Newbridge Financial Services Group Inc. Reduces Alphabet Inc. Holdings

Newbridge Financial Services Group Inc. has decided to reduce its investment in Alphabet Inc. (NASDAQ:GOOGL). According to its most recent 13F filing with the Securities and Exchange Commission, the firm lowered its stake by 3.0% during the second quarter of the year. After selling 264 shares, Newbridge Financial now holds a total of 8,588 shares in Alphabet, which is valued at approximately $1,564,000.

Institutional Investors' Activity

Other institutional investors have also been active in adjusting their positions in Alphabet. For instance, MorganRosel Wealth Management LLC increased its holdings by 3.6% in the second quarter, acquiring an additional 57 shares to own a total of 1,620 shares worth $295,000. Similarly, Hengehold Capital Management LLC has slightly increased its stake by 0.8%, adding 60 shares to reach 7,224 shares valued at $1,316,000. Furthermore, Christopher J. Hasenberg Inc. boosted its investment significantly by 75%, owning 140 shares now valued at $26,000 after adding 60 shares. Likewise, Joseph P. Lucia & Associates LLC enhanced its stake by 1.0%, now owning 6,624 shares worth $1,000,000 after purchasing 64 shares. Lastly, Sunflower Bank N.A. also increased its investment by 1.0%, obtaining 6,309 shares valued at $1,149,000 after adding 65 shares.

Insider Trading Activities

There have also been notable transactions among Alphabet’s insiders. On October 1st, CAO Amie Thuener O’toole sold 1,367 shares at an average price of $168.84, totaling approximately $230,804.28. After this sale, she directly owns 29,183 shares, valued around $4,927,258, effectively representing a negligible change in her position. Another insider, SVP Prabhakar Raghavan, sold 34,257 shares on August 15th at an average price of $162.60, generating $5,570,188.20 from the transaction. Post-sale, Raghavan possesses 312,210 shares valued at about $50,765,346. Over the last three months, insiders have offloaded 216,092 shares worth roughly $35,644,136. Overall, company insiders hold about 11.55% of Alphabet’s shares.

Analyst Recommendations

Several analysts recently revised their ratings for Alphabet. Argus raised its target price from $200.00 to $215.00, assigning a “buy” rating on July 16th. Wolfe Research began covering Alphabet with an “outperform” rating and set a price target of $240.00 on the same date. UBS Group also raised its target price from $200.00 to $204.00 while maintaining a “neutral” rating as of July 24th. Truist Financial reiterated a “buy” rating and set a target of $196.00 on September 16th. Additionally, Citigroup increased its price target from $190.00 to $212.00, also rating it as “buy.” Currently, the stock has a consensus rating of “Moderate Buy,” with 28 analysts recommending buy and three suggesting strong buy, while eight rated it as a hold. The consensus target price stands at $200.95 according to MarketBeat.com.

Current Market Performance

The trading performance of Alphabet stock has shown slight upward movement recently, with shares opening at $163.24. The company enjoys a market capitalization of $2.01 trillion and has a price-to-earnings ratio of 23.42. Alphabet's stock has recorded a 52-week range with a low of $120.21 and a high of $191.75. The fifty-day moving average is $161.37, whereas the two-hundred-day moving average is noted at $167.63.

Recent Earnings Results and Dividend Announcement

Alphabet last reported its earnings on July 23rd, revealing earnings per share (EPS) of $1.89, slightly surpassing analysts’ expectations of $1.85 by $0.04. The company reported a net margin of 26.70% and a return on equity of 30.49%, with a revenue of $84.74 billion against the predicted $70.60 billion. Analysts expect the company to achieve an EPS of 7.64 for the current year. In addition, Alphabet announced a quarterly dividend of $0.20 per share, which was paid on September 16th to shareholders recorded by September 9th. This results in an annualized dividend yield of 0.49% and a payout ratio of 11.48%.

About Alphabet Inc.

Alphabet Inc. is involved in offering various products and services globally across regions including the United States, Europe, the Middle East, Africa, Asia-Pacific, Canada, and Latin America. The company operates through segments such as Google Services, Google Cloud, and Other Bets, providing diverse offerings including advertising, Android, Chrome, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

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