Newbridge Financial Services Group Inc. Acquires 257 Shares of Alphabet Inc. (NASDAQ:GOOG)

Newbridge Financial Services Group Inc. boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,962 shares of the information services provider’s stock after acquiring an additional 257 shares during the quarter. Alphabet accounts for about 1.0% of Newbridge Financial Services Group Inc.’s portfolio, making the stock its 10th largest position. Newbridge Financial Services Group Inc.’s holdings in Alphabet were worth $2,109,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. HighPoint Advisor Group LLC acquired a new stake in Alphabet in the fourth quarter valued at $17,854,000. Fairman Group LLC acquired a new stake in shares of Alphabet in the fourth quarter valued at about $72,000. Napatree Capital LLC bought a new position in shares of Alphabet during the fourth quarter worth about $848,000. Grayhawk Investment Strategies Inc. acquired a new position in shares of Alphabet in the fourth quarter worth approximately $3,862,000. Finally, Ariston Services Group bought a new stake in Alphabet in the fourth quarter valued at approximately $574,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Alphabet news, Director John L. Hennessy sold 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $177.92, for a total transaction of $266,880.00. Following the completion of the sale, the director now directly owns 3,727 shares of the company’s stock, valued at approximately $663,107.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $155.67, for a total value of $3,502,575.00. Following the completion of the sale, the chief executive officer now owns 2,325,513 shares in the company, valued at $362,012,608.71. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director John L. Hennessy sold 1,500 shares of the business’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $177.92, for a total transaction of $266,880.00. Following the transaction, the director now owns 3,727 shares in the company, valued at $663,107.84. The disclosure for this sale can be found here. Insiders have sold 135,958 shares of company stock worth $22,383,553 in the last quarter. Insiders own 12.99% of the company’s stock.

Alphabet Stock Down 1.3 %

Shares of NASDAQ:GOOG opened at $176.45 on Wednesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15. Alphabet Inc. has a 52-week low of $115.83 and a 52-week high of $182.08. The business’s 50 day simple moving average is $170.48 and its two-hundred day simple moving average is $153.13. The firm has a market cap of $2.18 trillion, a P/E ratio of 27.06, a PEG ratio of 1.33 and a beta of 1.01.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.38. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The business had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $78.75 billion. During the same quarter last year, the firm posted $1.17 EPS. Alphabet’s revenue was up 15.4% compared to the same quarter last year. As a group, research analysts forecast that Alphabet Inc. will post 7.69 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a — dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 10th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, June 10th. Alphabet’s payout ratio is presently 12.27%.

Analysts Set New Price Targets

Several research firms have recently weighed in on GOOG. Morgan Stanley reissued an “overweight” rating and issued a $165.00 price objective on shares of Alphabet in a research report on Thursday, April 11th. Stifel Nicolaus lifted their target price on Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Finally, Oppenheimer increased their price target on Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a report on Monday, April 8th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $165.67.

About Alphabet

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.