Pinebridge Investments L.P. Buys 23,219 Shares of Alphabet Inc (NASDAQ:GOOG)

Pinebridge Investments L.P. boosted its stake in Alphabet Inc (NASDAQ:GOOG) by 60.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,398 shares of the information services provider’s stock after buying an additional 23,219 shares during the quarter. Alphabet makes up about 1.1% of Pinebridge Investments L.P.’s investment portfolio, making the stock its 10th largest position. Pinebridge Investments L.P.’s holdings in Alphabet were worth $66,366,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Oregon Public Employees Retirement Fund grew its holdings in shares of Alphabet by 102,010.9% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 56,224,303 shares of the information services provider’s stock worth $54,000 after purchasing an additional 56,169,241 shares during the last quarter. Lunia Capital LP grew its holdings in shares of Alphabet by 135,522.5% during the fourth quarter. Lunia Capital LP now owns 16,870,086 shares of the information services provider’s stock worth $16,870,000 after purchasing an additional 16,857,647 shares during the last quarter. Investec Asset Management LTD grew its holdings in shares of Alphabet by 2,660.9% during the second quarter. Investec Asset Management LTD now owns 648,507 shares of the information services provider’s stock worth $19,478,000 after purchasing an additional 625,018 shares during the last quarter. PenderFund Capital Management Ltd. grew its holdings in shares of Alphabet by 127,265.7% during the second quarter. PenderFund Capital Management Ltd. now owns 445,780 shares of the information services provider’s stock worth $4,906,000 after purchasing an additional 445,430 shares during the last quarter. Finally, Nordea Investment Management AB grew its holdings in shares of Alphabet by 129.3% during the fourth quarter. Nordea Investment Management AB now owns 723,309 shares of the information services provider’s stock worth $755,828,000 after purchasing an additional 407,812 shares during the last quarter. 33.97% of the stock is currently owned by institutional investors and hedge funds.

Alphabet stock traded up $14.08 during mid-day trading on Thursday, hitting $1,234.25. The stock had a trading volume of 1,560,845 shares, compared to its average volume of 1,473,200. The stock has a 50-day simple moving average of $1,189.93 and a two-hundred day simple moving average of $1,163.30. The stock has a market capitalization of $846.06 billion, a PE ratio of 25.98, a P/E/G ratio of 1.39 and a beta of 0.98. Alphabet Inc has a 12 month low of $970.11 and a 12 month high of $1,289.27. The company has a current ratio of 3.98, a quick ratio of 3.96 and a debt-to-equity ratio of 0.07.



Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Thursday, July 25th. The information services provider reported $14.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $11.49 by $2.72. The business had revenue of $38.94 billion for the quarter, compared to analysts’ expectations of $38.21 billion. Alphabet had a return on equity of 20.15% and a net margin of 23.43%. The firm’s quarterly revenue was up 19.3% compared to the same quarter last year. During the same quarter last year, the business earned $11.75 earnings per share. Sell-side analysts expect that Alphabet Inc will post 52.37 earnings per share for the current fiscal year.

In related news, major shareholder Capitalg Lp bought 140,000 shares of Alphabet stock in a transaction on Friday, June 14th. The shares were purchased at an average price of $34.00 per share, for a total transaction of $4,760,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John L. Hennessy sold 75 shares of the firm’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $1,200.00, for a total value of $90,000.00. Following the transaction, the director now owns 310 shares in the company, valued at approximately $372,000. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,744 shares of company stock worth $4,480,345. 12.99% of the stock is owned by company insiders.

Several brokerages have recently commented on GOOG. Zacks Investment Research upgraded Alphabet from a “hold” rating to a “buy” rating and set a $1,372.00 target price on the stock in a report on Wednesday, July 31st. Cowen increased their target price on Alphabet from $1,400.00 to $1,500.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Pivotal Research began coverage on Alphabet in a report on Wednesday, May 29th. They set a “hold” rating on the stock. Goldman Sachs Group restated a “buy” rating on shares of Alphabet in a report on Tuesday, July 23rd. Finally, Wedbush increased their target price on Alphabet from $1,350.00 to $1,500.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Four equities research analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $1,378.93.

Alphabet Profile

Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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