Bridgewealth Advisory Group LLC Purchases New Position in Alphabet Inc. (NASDAQ:GOOG)

Bridgewealth Advisory Group LLC acquired a new stake in Alphabet Inc. (NASDAQ:GOOG) in the first quarter, according to its most recent filing with the SEC. The fund acquired 1,646 shares of the information services provider’s stock, valued at approximately $251,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Fiduciary Alliance LLC lifted its holdings in shares of Alphabet by 1.4% in the first quarter. Fiduciary Alliance LLC now owns 4,867 shares of the information services provider’s stock worth $762,000 after buying an additional 67 shares in the last quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO boosted its holdings in shares of Alphabet by 0.8% during the 1st quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 8,588 shares of the information services provider’s stock valued at $1,308,000 after purchasing an additional 68 shares during the last quarter. Cranbrook Wealth Management LLC boosted its holdings in shares of Alphabet by 14.0% during the 4th quarter. Cranbrook Wealth Management LLC now owns 570 shares of the information services provider’s stock valued at $80,000 after purchasing an additional 70 shares during the last quarter. Saratoga Research & Investment Management increased its holdings in shares of Alphabet by 0.5% in the first quarter. Saratoga Research & Investment Management now owns 14,706 shares of the information services provider’s stock worth $2,239,000 after purchasing an additional 72 shares during the last quarter. Finally, Manchester Financial Inc. lifted its position in shares of Alphabet by 3.6% in the fourth quarter. Manchester Financial Inc. now owns 2,124 shares of the information services provider’s stock worth $299,000 after buying an additional 74 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $166.67, for a total transaction of $113,668.94. Following the completion of the sale, the chief accounting officer now directly owns 29,284 shares of the company’s stock, valued at $4,880,764.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $155.67, for a total value of $3,502,575.00. Following the completion of the sale, the chief executive officer now directly owns 2,325,513 shares in the company, valued at approximately $362,012,608.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $166.67, for a total value of $113,668.94. Following the transaction, the chief accounting officer now owns 29,284 shares in the company, valued at approximately $4,880,764.28. The disclosure for this sale can be found here. Insiders have sold 142,344 shares of company stock valued at $23,920,676 in the last quarter. 12.99% of the stock is owned by insiders.

Alphabet Stock Performance

NASDAQ:GOOG opened at $183.96 on Tuesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15. The stock’s fifty day moving average is $174.40 and its 200 day moving average is $155.84. The firm has a market capitalization of $2.27 trillion, a PE ratio of 28.30, a PEG ratio of 1.38 and a beta of 1.05. Alphabet Inc. has a fifty-two week low of $115.83 and a fifty-two week high of $187.50.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.51 by $0.38. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The firm had revenue of $80.54 billion during the quarter, compared to analysts’ expectations of $78.75 billion. During the same period in the previous year, the company earned $1.17 EPS. The firm’s revenue for the quarter was up 15.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Alphabet Inc. will post 7.6 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently disclosed a — dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 10th were issued a dividend of $0.20 per share. The ex-dividend date was Monday, June 10th. Alphabet’s payout ratio is currently 12.27%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on GOOG. Stifel Nicolaus raised their price target on Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Morgan Stanley reissued an “overweight” rating and issued a $165.00 target price on shares of Alphabet in a report on Thursday, April 11th. Rosenblatt Securities downgraded shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target on the stock. in a research note on Friday. Finally, Oppenheimer lifted their price objective on shares of Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research note on Monday, April 8th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and an average price target of $167.86.

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.