Newbridge Financial Services Group Inc. Reduces Stake in Alphabet Inc. (NASDAQ: GOOGL)

Newbridge Financial Services Group Inc. has reduced its holdings in Alphabet Inc. (NASDAQ: GOOGL) by 3.0% during the second quarter, according to the company’s latest 13F filing with the Securities and Exchange Commission (SEC). After selling 264 shares during the quarter, the institutional investor now owns 8,588 shares of Alphabet’s stock, valued at approximately $1,564,000.

In addition to Newbridge, several other institutional investors have also adjusted their stakes in Alphabet. MorganRosel Wealth Management LLC increased its position by 3.6% in the second quarter, acquiring an additional 57 shares to reach a total of 1,620 shares worth $295,000. Likewise, Hengehold Capital Management LLC raised its stake by 0.8% during the same period, now owning 7,224 shares valued at $1,316,000 after buying 60 more shares. Christopher J. Hasenberg Inc made a significant adjustment by increasing its holdings by 75.0%, resulting in ownership of 140 shares worth $26,000 after an additional purchase of 60 shares. Joseph P. Lucia & Associates LLC also boosted its position by 1.0%, bringing its total to 6,624 shares valued at $1,000,000 after buying an additional 64 shares. Finally, Sunflower Bank N.A. increased its stake by 1.0% in the second quarter to own 6,309 shares valued at $1,149,000 after adding 65 shares.

Insider Trading Activity

In related news, Amie Thuener O’toole, the Chief Accounting Officer, sold 1,367 shares of Alphabet on October 1 at an average price of $168.84, totaling $230,804.28. Currently, she owns 29,183 shares, valued at approximately $4,927,257.72. This sale marks no significant change in her holding percentage. Additionally, Senior Vice President Prabhakar Raghavan sold 34,257 shares on August 15 at an average price of $162.60, yielding a total of $5,570,188.20. Post-sale, he retains 312,210 shares valued at around $50,765,346, again reflecting a negligible change in ownership. Over the past ninety days, insiders have reportedly sold 216,092 shares worth $35,644,136, while 11.55% of the company's stock is retained by insiders.

Changes in Analyst Ratings

Recent analyst reports have offered varying perspectives on Alphabet's stock. Argus increased its target price from $200.00 to $215.00 and rated the stock as a “buy” in a report published on July 16. Similarly, Wolfe Research initiated coverage on Alphabet on the same date, issuing an “outperform” rating with a target price of $240.00. UBS Group adjusted its price target from $200.00 to $204.00, maintaining a “neutral” rating in a note circulated on July 24. Truist Financial reaffirmed its “buy” rating and set a target price of $196.00 on September 16. Citigroup also raised its target from $190.00 to $212.00 while giving it a “buy” rating. The current consensus rating for Alphabet from analysts indicates a “Moderate Buy” with an aggregate target price of $200.95. Overall, eight analysts suggest holding the stock, while twenty-eight endorse buying it, and three give it a strong buy rating.

Stock Performance and Financials

As of Friday, GOOGL stocks opened at $163.24, with the market capitalization standing at $2.01 trillion. The company's PE ratio is reported at 23.42, with a price-to-earnings-growth ratio of 1.21, and a beta of 1.04. Alphabet’s debt-to-equity ratio is low at 0.04, alongside a quick and current ratio of 2.08. Over the past year, Alphabet's stock has fluctuated between a low of $120.21 and a high of $191.75, with its fifty-day moving average standing at $161.37 and its two-hundred-day moving average at $167.63.

On July 23, Alphabet announced its most recent earnings results, revealing earnings per share (EPS) of $1.89 for the quarter, 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%. For the quarter, Alphabet earned a revenue of $84.74 billion, significantly higher than analyst projections of $70.60 billion. This performance marked an improvement from the previous year's quarter when the firm posted an EPS of $1.44. Research analysts forecast Alphabet Inc. to achieve an EPS of 7.64 for the current year.

Latest Dividend Announcement

Recently, Alphabet declared a quarterly dividend, which was paid on September 16, with dividends reaching $0.20 per share for investors of record as of September 9. The ex-dividend date was also September 9, resulting in an annualized dividend of $0.80 and a yield of 0.49%. The company's payout ratio is at 11.48%.

About Alphabet Inc.

Alphabet Inc. provides a wide range of products and platforms globally, operating through various segments such as Google Services, Google Cloud, and Other Bets. The Google Services division is responsible for a variety of services and products that include ads, Android operating systems, Chrome browser, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

Alphabet, Stocks, Investors