Bridge Creek Capital Management LLC Sells 154 Shares of Alphabet Inc (NASDAQ:GOOG)

Bridge Creek Capital Management LLC decreased its stake in shares of Alphabet Inc (NASDAQ:GOOG) by 4.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,405 shares of the information services provider’s stock after selling 154 shares during the period. Alphabet accounts for approximately 1.8% of Bridge Creek Capital Management LLC’s holdings, making the stock its 22nd biggest holding. Bridge Creek Capital Management LLC’s holdings in Alphabet were worth $3,562,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Janus Henderson Group PLC increased its stake in shares of Alphabet by 759.0% in the 2nd quarter. Janus Henderson Group PLC now owns 3,204,087 shares of the information services provider’s stock valued at $2,911,734,000 after acquiring an additional 2,831,099 shares during the last quarter. Koch Industries Inc. increased its stake in shares of Alphabet by 214,636.6% in the 2nd quarter. Koch Industries Inc. now owns 1,161,725 shares of the information services provider’s stock valued at $1,160,000 after acquiring an additional 1,161,184 shares during the last quarter. BlackRock Inc. increased its stake in shares of Alphabet by 4.8% in the 2nd quarter. BlackRock Inc. now owns 18,058,006 shares of the information services provider’s stock valued at $16,409,850,000 after acquiring an additional 826,480 shares during the last quarter. Capital World Investors increased its stake in shares of Alphabet by 13.9% in the 2nd quarter. Capital World Investors now owns 6,371,356 shares of the information services provider’s stock valued at $5,789,842,000 after acquiring an additional 776,853 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Alphabet by 3.0% in the 2nd quarter. Vanguard Group Inc. now owns 20,440,038 shares of the information services provider’s stock valued at $18,574,476,000 after acquiring an additional 589,654 shares during the last quarter. Institutional investors own 34.85% of the company’s stock.

GOOG has been the subject of a number of recent analyst reports. UBS reaffirmed a “buy” rating on shares of Alphabet in a research note on Thursday, January 11th. Morningstar reaffirmed a “neutral” rating on shares of Alphabet in a research note on Friday, January 19th. Morgan Stanley reaffirmed a “buy” rating on shares of Alphabet in a research note on Friday, January 12th. Piper Jaffray upped their price target on Alphabet from $1,150.00 to $1,300.00 and gave the company an “overweight” rating in a research note on Thursday, January 11th. Finally, Vetr raised Alphabet from a “strong sell” rating to a “sell” rating and set a $1,040.56 price target for the company in a research note on Tuesday, January 30th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirty-three have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $1,089.34.

Shares of GOOG traded down $20.77 during mid-day trading on Friday, hitting $1,007.04. 1,746,430 shares of the company’s stock were exchanged, compared to its average volume of 2,203,148. The stock has a market capitalization of $699,674.25, a P/E ratio of 31.42 and a beta of 1.08. Alphabet Inc has a 52 week low of $817.02 and a 52 week high of $1,186.89. The company has a quick ratio of 5.11, a current ratio of 5.14 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Thursday, February 1st. The information services provider reported $9.70 earnings per share for the quarter, missing the consensus estimate of $10.07 by ($0.37). The business had revenue of $32.32 billion for the quarter, compared to the consensus estimate of $31.88 billion. Alphabet had a return on equity of 14.94% and a net margin of 11.42%. Alphabet’s revenue was up 24.0% compared to the same quarter last year. During the same period in the prior year, the business earned $9.36 earnings per share.

Alphabet announced that its board has approved a stock repurchase plan on Thursday, February 1st that authorizes the company to repurchase $8.59 billion in shares. This repurchase authorization authorizes the information services provider to reacquire shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

In other news, Director Ann Mather sold 37 shares of the stock in a transaction that occurred on Thursday, March 1st. The stock was sold at an average price of $1,107.87, for a total value of $40,991.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 4,000 shares of the stock in a transaction that occurred on Wednesday, January 17th. The shares were sold at an average price of $1,127.17, for a total value of $4,508,680.00. Following the completion of the sale, the chief executive officer now directly owns 656 shares of the company’s stock, valued at approximately $739,423.52. The disclosure for this sale can be found here. Insiders have sold a total of 48,720 shares of company stock valued at $52,755,337 over the last ninety days. Company insiders own 13.92% of the company’s stock.

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Alphabet Company Profile

Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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