Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Newbridge Financial Services Group Inc.

Newbridge Financial Services Group Inc. decreased its position in Alphabet Inc. (NASDAQ:GOOGL) by 20.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,550 shares of the information services provider’s stock after selling 4,810 shares during the quarter. Alphabet comprises 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 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Norges Bank purchased a new stake in shares of Alphabet during the fourth quarter valued at $15,441,917,000. FMR LLC raised its position in Alphabet by 5.6% during the third quarter. FMR LLC now owns 227,317,469 shares of the information services provider’s stock valued at $29,746,764,000 after buying an additional 12,070,681 shares during the period. Vanguard Group Inc. raised its position in Alphabet by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 493,810,251 shares of the information services provider’s stock valued at $68,980,354,000 after buying an additional 6,374,756 shares during the period. Public Employees Retirement Association of Colorado raised its position in Alphabet by 39,754.9% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 6,025,667 shares of the information services provider’s stock valued at $841,725,000 after buying an additional 6,010,548 shares during the period. Finally, International Assets Investment Management LLC raised its position in Alphabet by 4,894.1% during the fourth quarter. International Assets Investment Management LLC now owns 5,445,396 shares of the information services provider’s stock valued at $7,606,670,000 after buying an additional 5,336,359 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Trading Down 0.7 %

GOOGL stock traded down $1.23 during midday trading on Tuesday, hitting $176.01. 2,667,185 shares of the company’s stock were exchanged, compared to its average volume of 28,702,143. The stock’s fifty day moving average price is $168.53 and its 200-day moving average price is $151.42. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15. The company has a market cap of $2.18 trillion, a PE ratio of 27.18, a price-to-earnings-growth ratio of 1.33 and a beta of 1.01. Alphabet Inc. has a one year low of $115.35 and a one year high of $180.41.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, beating analysts’ consensus estimates 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 return on equity of 29.52% and a net margin of 25.90%. During the same period in the previous year, the company posted $1.17 earnings per share. Research analysts predict that Alphabet Inc. will post 7.6 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 10th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date of this dividend was Monday, June 10th. Alphabet’s dividend payout ratio is currently 12.27%.

Insider Activity at Alphabet

In related news, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $177.92, for a total value of $266,880.00. Following the sale, the director now owns 3,727 shares of the company’s stock, valued at $663,107.84. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director John L. Hennessy sold 1,500 shares of the company’s stock in a transaction 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 in the company, valued at approximately $663,107.84. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $148.78, for a total value of $3,347,550.00. Following 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. Over the last quarter, insiders have sold 158,458 shares of company stock valued at $25,731,103. 11.55% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on GOOGL shares. KeyCorp upped their target price on Alphabet from $165.00 to $175.00 and gave the stock an “overweight” rating in a research report on Monday, April 22nd. Wedbush upped their target price on Alphabet from $175.00 to $205.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Robert W. Baird upped their target price on Alphabet from $160.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Citigroup upped their target price on Alphabet from $168.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Finally, Needham & Company LLC increased their price objective on Alphabet from $160.00 to $210.00 and gave the company a “buy” rating in a report on Friday, April 26th. Five analysts have rated the stock with a hold rating, thirty have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $193.26.

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.