Corebridge Financial Inc. Has $251.26 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Corebridge Financial Inc. cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 3.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 1,319,346 shares of the information services provider’s stock after selling 52,897 shares during the quarter. Alphabet makes up 1.4% of Corebridge Financial Inc.’s portfolio, making the stock its 9th biggest position. Corebridge Financial Inc.’s holdings in Alphabet were worth $251,256,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Raymond James Financial Inc. acquired a new position in Alphabet in the fourth quarter valued at about $1,551,533,000. FMR LLC grew its position in shares of Alphabet by 5.2% during the 3rd quarter. FMR LLC now owns 114,802,133 shares of the information services provider’s stock worth $19,193,768,000 after buying an additional 5,655,022 shares during the period. Proficio Capital Partners LLC raised its position in shares of Alphabet by 5,712.8% in the 4th quarter. Proficio Capital Partners LLC now owns 4,367,831 shares of the information services provider’s stock valued at $831,810,000 after acquiring an additional 4,292,689 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Alphabet by 10.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,334,082 shares of the information services provider’s stock valued at $5,573,125,000 after acquiring an additional 3,113,395 shares during the period. Finally, KLP Kapitalforvaltning AS bought a new position in Alphabet during the 4th quarter worth approximately $328,018,000. Institutional investors own 27.26% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Cantor Fitzgerald reiterated a “neutral” rating on shares of Alphabet in a report on Wednesday. Rosenblatt Securities reaffirmed a “neutral” rating on shares of Alphabet in a research note on Wednesday. The Goldman Sachs Group reissued a “buy” rating on shares of Alphabet in a research note on Wednesday, February 5th. Citizens Jmp lowered Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. Finally, Wedbush reiterated an “outperform” rating and set a $220.00 price objective on shares of Alphabet in a report on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $209.13.

Alphabet Stock Performance

Shares of GOOG stock opened at $166.25 on Monday. Alphabet Inc. has a 12 month low of $148.20 and a 12 month high of $208.70. The company’s fifty day simple moving average is $184.37 and its 200-day simple moving average is $178.22. The firm has a market cap of $2.03 trillion, a PE ratio of 20.65, a P/E/G ratio of 1.34 and a beta of 1.03. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. Equities research analysts expect that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.80 annualized dividend and a yield of 0.48%. Alphabet’s payout ratio is presently 9.94%.

Insider Activity at Alphabet

In other Alphabet news, insider John Kent Walker sold 16,820 shares of the company’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the sale, the insider now directly owns 43,981 shares of the company’s stock, valued at approximately $8,471,620.22. This represents a 27.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director John L. Hennessy sold 200 shares of the stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $165.53, for a total transaction of $33,106.00. Following the completion of the sale, the director now owns 7,813 shares of the company’s stock, valued at approximately $1,293,285.89. This represents a 2.50 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 93,048 shares of company stock valued at $17,374,274. Insiders own 12.99% of the company’s stock.

Alphabet Company Profile

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.