Newbridge Financial Services Group Inc. Reduces Stake in Alphabet Inc. Shares

Newbridge Financial Services Group Inc. has made a strategic decision to reduce its shareholding in Alphabet Inc. (NASDAQ:GOOGL) by 3.0% during the second quarter of the year. According to the recent 13F filing submitted to the Securities and Exchange Commission (SEC), the institutional investor now holds 8,588 shares of Alphabet, following the sale of 264 shares in the last quarter. The value of Newbridge Financial Services’ holdings in Alphabet has been reported at approximately $1,564,000 as of the latest filing.

In addition to Newbridge, other institutional investors have also been actively adjusting their positions in Alphabet. For instance, MorganRosel Wealth Management LLC increased its investment in Alphabet by 3.6% during the second quarter, acquiring an additional 57 shares for a total holding of 1,620 shares, valued at about $295,000. Similarly, Hengehold Capital Management LLC raised its stake in Alphabet by 0.8% during the same period, now owning 7,224 shares worth approximately $1,316,000 after buying another 60 shares.

Another notable increase in investment came from Christopher J. Hasenberg Inc., which saw a significant rise of 75.0% in its Alphabet stake, now totaling 140 shares valued at $26,000. Furthermore, Joseph P. Lucia & Associates LLC also lifted its investment by 1.0% in the previous quarter, owning 6,624 shares worth about $1,000,000 after acquiring 64 additional shares. Sunflower Bank N.A. made a similar adjustment, increasing its position in Alphabet by 1.0% to own 6,309 shares valued at $1,149,000 after purchasing an additional 65 shares.

Insider Transactions at Alphabet Inc.

In related news, several insiders have made stock transactions in recent months. On October 1st, the Chief Accounting Officer, Amie Thuener O’toole, sold 1,367 shares at an average price of $168.84, totaling approximately $230,804.28. After this transaction, O'Toole retains ownership of 29,183 shares, which are valued at around $4,927,257.72, representing no change in her overall position.

Additionally, on August 15th, Senior Vice President Prabhakar Raghavan sold 34,257 shares of Alphabet at an average price of $162.60, amounting to about $5,570,188.20. Post-sale, Raghavan's direct holdings stood at 312,210 shares, valued at approximately $50,765,346, also marking no change in ownership. Over the past three months, insiders have sold a total of 216,092 shares worth approximately $35,644,136, and insider ownership currently accounts for 11.55% of Alphabet's total stock.

Analyst Ratings for Alphabet Inc.

On the research front, several analysts have recently provided updates on Alphabet's stock. Argus raised its target price from $200.00 to $215.00 and assigned a "buy" rating in a report published on July 16th. Wolfe Research began covering the company, giving it an "outperform" rating with a target price of $240.00. Similarly, UBS Group adjusted its target price from $200.00 to $204.00, maintaining a "neutral" rating on July 24th. On September 16th, Truist Financial reiterated a "buy" rating with a price target of $196.00. Citigroup has also increased its target price from $190.00 to $212.00, tagging it with a "buy" rating. Overall, eight analysts have issued hold ratings, twenty-eight have recommended buying, and three have rated it as a strong buy. As a result, the stock holds a consensus rating of "Moderate Buy" with a target price averaging $200.95, according to MarketBeat.com.

Current Market Performance of Alphabet Inc.

As of Friday, GOOGL shares opened at $163.24, with a market capitalization of $2.01 trillion. The company’s price-to-earnings (P/E) ratio stands at 23.42, while the price-to-earnings-growth (PEG) ratio is recorded at 1.21. Additionally, Alphabet possesses a debt-to-equity ratio of 0.04, a quick ratio of 2.08, and a current ratio also at 2.08. Throughout the past year, the stock has been on a rollercoaster, achieving a low of $120.21 and a high of $191.75, with its fifty-day moving average now at $161.37 and a two-hundred-day moving average at $167.63.

Financial Performance and Dividend Announcement

Alphabet recently reported its earnings for the quarter on July 23rd, with earnings per share (EPS) coming in at $1.89, surpassing the estimated EPS of $1.85 by $0.04. The company also achieved a net margin of 26.70% and a return on equity of 30.49%, with total revenue reaching $84.74 billion, significantly higher than the projected $70.60 billion. Analysts expect Alphabet Inc. to post an EPS of 7.64 for the ongoing year.

In financial developments, Alphabet announced a quarterly dividend, which was paid on September 16th. Shareholders of record as of September 9th received a dividend of $0.20 per share, making for an annualized dividend of $0.80 and yielding 0.49%. The company’s payout ratio is reported at 11.48%.

Overview of Alphabet Inc.

Alphabet Inc. operates a diverse range of products and platforms across different global markets. The company is structured into several segments, including Google Services, Google Cloud, and Other Bets. The Google Services segment encompasses a variety of offerings, such as advertisements, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

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