Bridgewealth Advisory Group LLC Has $400,000 Stake in Alphabet Inc. (NASDAQ:GOOG)

Bridgewealth Advisory Group LLC grew its stake in Alphabet Inc. (NASDAQ:GOOG) by 20.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,127 shares of the information services provider’s stock after purchasing an additional 358 shares during the period. Bridgewealth Advisory Group LLC’s holdings in Alphabet were worth $400,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in GOOG. Fiduciary Advisors Inc. acquired a new stake in shares of Alphabet during the 4th quarter valued at $27,000. LSV Asset Management acquired a new stake in shares of Alphabet during the fourth quarter valued at about $27,000. WealthTrak Capital Management LLC bought a new stake in shares of Alphabet during the fourth quarter worth about $38,000. Mountain Hill Investment Partners Corp. acquired a new position in shares of Alphabet in the fourth quarter valued at approximately $39,000. Finally, Noble Wealth Management PBC bought a new position in Alphabet in the 4th quarter valued at approximately $43,000. 27.26% of the stock is owned by institutional investors.

Alphabet Stock Down 0.2 %

Alphabet stock opened at $162.06 on Wednesday. The firm has a market capitalization of $1.98 trillion, a price-to-earnings ratio of 20.13, a price-to-earnings-growth ratio of 1.34 and a beta of 1.04. The firm’s fifty day moving average price is $163.26 and its two-hundred day moving average price is $177.23. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $208.70. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.79. The business had revenue of $90.23 billion for the quarter, compared to analysts’ expectations of $89.30 billion. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. The firm’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.89 EPS. On average, equities research analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be given a $0.21 dividend. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date is Monday, June 9th. Alphabet’s dividend payout ratio is presently 9.36%.

Insider Activity at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 1,340 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $202.08, for a total value of $270,787.20. Following the completion of the sale, the chief accounting officer now owns 17,848 shares in the company, valued at approximately $3,606,723.84. This trade represents a 6.98 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total value of $5,153,200.00. Following the completion of the transaction, the chief executive officer now directly owns 2,717,696 shares of the company’s stock, valued at approximately $430,917,877.76. This represents a 1.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 148,163 shares of company stock valued at $25,361,647. 12.99% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

GOOG has been the topic of a number of research reports. The Goldman Sachs Group reissued a “buy” rating on shares of Alphabet in a report on Wednesday, February 5th. Needham & Company LLC reaffirmed a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. Wedbush reiterated an “outperform” rating and issued a $220.00 price target on shares of Alphabet in a research report on Thursday, January 30th. UBS Group lowered their price objective on Alphabet from $209.00 to $173.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. Finally, Citigroup reiterated a “sell” rating on shares of Alphabet in a report on Wednesday, April 23rd. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $203.94.

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.