Alphabet Inc. (NASDAQ:GOOGL) is Newbridge Financial Services Group Inc.’s 7th Largest Position

Newbridge Financial Services Group Inc. trimmed its stake in Alphabet Inc. (NASDAQ:GOOGLFree Report) by 20.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,550 shares of the information services provider’s stock after selling 4,810 shares during the period. Alphabet accounts for approximately 1.3% of Newbridge Financial Services Group Inc.’s holdings, making the stock its 7th largest position. Newbridge Financial Services Group Inc.’s holdings in Alphabet were worth $2,591,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vermillion & White Wealth Management Group LLC purchased a new stake in Alphabet in the 4th quarter worth $30,000. DiNuzzo Private Wealth Inc. purchased a new stake in Alphabet in the 4th quarter worth $38,000. Meritage Group LP increased its stake in Alphabet by 1,061.5% in the 3rd quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock worth $40,000 after buying an additional 276 shares in the last quarter. Armor Investment Advisors LLC increased its stake in Alphabet by 31.0% in the 4th quarter. Armor Investment Advisors LLC now owns 338 shares of the information services provider’s stock worth $47,000 after buying an additional 80 shares in the last quarter. Finally, IAG Wealth Partners LLC increased its stake in Alphabet by 55.9% in the 4th quarter. IAG Wealth Partners LLC now owns 343 shares of the information services provider’s stock worth $48,000 after buying an additional 123 shares in the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $154.79, for a total value of $105,566.78. Following the completion of the sale, the chief accounting officer now directly owns 29,284 shares in the company, valued at $4,532,870.36. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $154.79, for a total value of $105,566.78. Following the completion of the sale, the chief accounting officer now directly owns 29,284 shares in the company, valued at $4,532,870.36. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $148.78, for a total transaction of $3,347,550.00. Following the completion of the sale, the chief executive officer now owns 2,310,191 shares of the company’s stock, valued at $343,710,216.98. The disclosure for this sale can be found here. Insiders have sold a total of 158,458 shares of company stock valued at $25,731,103 over the last ninety days. 11.55% of the stock is owned by company insiders.

Alphabet Stock Down 0.7 %

GOOGL stock traded down $1.23 during trading on Tuesday, hitting $176.01. 2,667,185 shares of the company’s stock traded hands, compared to its average volume of 28,702,143. The firm has a market capitalization of $2.18 trillion, a P/E ratio of 27.18, a PEG ratio of 1.33 and a beta of 1.01. The business has a fifty day simple moving average of $168.53 and a two-hundred day simple moving average of $151.42. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 1 year low of $115.35 and a 1 year high of $180.41.

Alphabet (NASDAQ:GOOGLGet Free Report) last issued its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.40. The company had revenue of $80.54 billion for the quarter, compared to analyst estimates of $66.04 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. During the same period last year, the company posted $1.17 earnings per share. Sell-side analysts anticipate that Alphabet Inc. will post 7.6 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 10th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.45%. The ex-dividend date was Monday, June 10th. Alphabet’s payout ratio is 12.27%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on GOOGL shares. Robert W. Baird increased their price target on Alphabet from $160.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Piper Sandler reissued an “overweight” rating and set a $200.00 price objective (up previously from $160.00) on shares of Alphabet in a report on Friday, April 26th. Mizuho increased their price objective on shares of Alphabet from $170.00 to $190.00 and gave the company a “buy” rating in a report on Friday, April 26th. Loop Capital increased their price objective on shares of Alphabet from $155.00 to $170.00 and gave the company a “hold” rating in a report on Wednesday, May 1st. Finally, Evercore ISI increased their price target on shares of Alphabet from $220.00 to $225.00 and gave the company an “outperform” rating in a report on Tuesday, June 11th. Five research analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $193.26.

Check Out Our Latest Stock Report on Alphabet

Alphabet Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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