Newbridge Financial Services Group Inc. Decreases Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Newbridge Financial Services Group Inc. cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 11.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 12,721 shares of the information services provider’s stock after selling 1,621 shares during the quarter. Newbridge Financial Services Group Inc.’s holdings in Alphabet were worth $2,408,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. LMR Partners LLP purchased a new position in shares of Alphabet during the third quarter worth approximately $32,000. E Fund Management Hong Kong Co. Ltd. grew its holdings in shares of Alphabet by 518.8% in the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock worth $37,000 after purchasing an additional 166 shares during the last quarter. Fiduciary Advisors Inc. bought a new position in shares of Alphabet in the fourth quarter worth approximately $39,000. Denver PWM LLC grew its holdings in shares of Alphabet by 25.4% in the third quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock worth $47,000 after purchasing an additional 57 shares during the last quarter. Finally, Teachers Insurance & Annuity Association of America bought a new position in shares of Alphabet in the third quarter worth approximately $66,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Up 0.8 %

GOOGL stock opened at $185.19 on Thursday. The business’s 50-day moving average price is $192.81 and its 200-day moving average price is $175.49. The stock has a market cap of $2.26 trillion, a P/E ratio of 23.01, a PEG ratio of 1.35 and a beta of 0.99. Alphabet Inc. has a twelve month low of $130.66 and a twelve month high of $207.05. 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:GOOGL) last released its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (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%. On average, equities research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.43%. The ex-dividend date is Monday, March 10th. Alphabet’s payout ratio is currently 9.94%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Evercore ISI raised their target price on shares of Alphabet from $200.00 to $205.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. BMO Capital Markets restated an “outperform” rating and issued a $217.00 target price (up previously from $215.00) on shares of Alphabet in a report on Wednesday, October 30th. Roth Mkm raised their target price on shares of Alphabet from $206.00 to $212.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Sanford C. Bernstein raised their target price on shares of Alphabet from $180.00 to $185.00 and gave the stock a “market perform” rating in a report on Wednesday, October 30th. Finally, Morgan Stanley cut their price target on shares of Alphabet from $215.00 to $210.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and an average target price of $210.62.

Insider Activity

In other Alphabet news, CAO Amie Thuener O’toole sold 1,367 shares of Alphabet stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $170.41, for a total transaction of $232,950.47. Following the completion of the transaction, the chief accounting officer now directly owns 23,515 shares of the company’s stock, valued at $4,007,191.15. The trade was a 5.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kavitark Ram Shriram sold 37,134 shares of Alphabet stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total transaction of $6,870,532.68. Following the transaction, the director now directly owns 282,832 shares of the company’s stock, valued at $52,329,576.64. The trade was a 11.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 98,919 shares of company stock worth $18,528,318 over the last quarter. Insiders own 11.55% of the company’s stock.

Alphabet 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.