Newbridge Financial Services Group Inc. Raises Holdings in Alphabet Inc. $GOOG

Newbridge Financial Services Group Inc. lifted its stake in Alphabet Inc. (NASDAQ:GOOG) by 4.5% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 41,068 shares of the information services provider’s stock after purchasing an additional 1,773 shares during the quarter. Alphabet comprises about 1.2% of Newbridge Financial Services Group Inc.’s portfolio, making the stock its 21st largest holding. Newbridge Financial Services Group Inc.’s holdings in Alphabet were worth $7,285,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. Kingstone Capital Partners Texas LLC lifted its stake in shares of Alphabet by 580,897.4% during the second quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider’s stock worth $23,963,208,000 after buying an additional 135,064,454 shares during the period. Norges Bank purchased a new position in Alphabet in the 2nd quarter worth $4,298,572,000. Vanguard Group Inc. raised its stake in Alphabet by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 416,753,033 shares of the information services provider’s stock worth $73,927,821,000 after acquiring an additional 5,182,111 shares during the last quarter. Laurel Wealth Advisors LLC lifted its position in Alphabet by 17,547.9% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 4,122,727 shares of the information services provider’s stock worth $731,331,000 after acquiring an additional 4,099,366 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its stake in Alphabet by 330.4% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 3,989,463 shares of the information services provider’s stock valued at $707,691,000 after purchasing an additional 3,062,590 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Transactions at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 954 shares of the stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $317.00, for a total transaction of $302,418.00. Following the completion of the transaction, the chief accounting officer owned 11,740 shares of the company’s stock, valued at $3,721,580. This represents a 7.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $319.50, for a total value of $10,383,750.00. Following the completion of the transaction, the chief executive officer owned 2,272,119 shares in the company, valued at approximately $725,942,020.50. This trade represents a 1.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 228,906 shares of company stock valued at $62,127,158. 12.99% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on GOOG shares. Bank of America increased their price target on shares of Alphabet from $280.00 to $335.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Hsbc Global Res upgraded shares of Alphabet to a “strong-buy” rating in a research note on Tuesday, October 7th. Cowen reissued a “buy” rating on shares of Alphabet in a report on Friday. Wolfe Research raised their target price on Alphabet from $290.00 to $350.00 and gave the stock an “outperform” rating in a report on Thursday, October 30th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $330.00 price objective on shares of Alphabet in a research note on Thursday, October 30th. Seven research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating, three have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $313.04.

Alphabet Price Performance

Alphabet stock opened at $310.52 on Friday. The stock has a market capitalization of $3.75 trillion, a P/E ratio of 30.62, a P/E/G ratio of 1.80 and a beta of 1.07. The company’s fifty day moving average price is $283.75 and its 200 day moving average price is $230.33. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.75 and a current ratio of 1.75. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $328.67.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Thursday, October 30th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 35.00%. The business had revenue of $102.35 billion for the quarter, compared to the consensus estimate of $99.90 billion. During the same period last year, the firm posted $2.12 earnings per share. The company’s revenue was up 15.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date is Monday, December 8th. Alphabet’s payout ratio is presently 8.28%.

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.