Bradley & Co. Private Wealth Management LLC Buys New Stake in Alphabet Inc. (NASDAQ:GOOG)

Bradley & Co. Private Wealth Management LLC purchased a new position in Alphabet Inc. (NASDAQ:GOOG) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 60,241 shares of the information services provider’s stock, valued at approximately $11,472,000. Alphabet makes up approximately 7.2% of Bradley & Co. Private Wealth Management LLC’s investment portfolio, making the stock its 4th biggest holding.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Swedbank AB boosted its stake in Alphabet by 0.6% during the third quarter. Swedbank AB now owns 8,338,900 shares of the information services provider’s stock worth $1,394,181,000 after buying an additional 51,226 shares during the period. Hudson Valley Investment Advisors Inc. ADV grew its holdings in shares of Alphabet by 0.6% in the third quarter. Hudson Valley Investment Advisors Inc. ADV now owns 113,127 shares of the information services provider’s stock worth $18,914,000 after purchasing an additional 623 shares during the last quarter. Cornerstone Wealth Group LLC grew its holdings in shares of Alphabet by 3.7% in the third quarter. Cornerstone Wealth Group LLC now owns 16,076 shares of the information services provider’s stock worth $2,688,000 after purchasing an additional 570 shares during the last quarter. S.A. Mason LLC increased its stake in Alphabet by 1.5% in the 3rd quarter. S.A. Mason LLC now owns 5,325 shares of the information services provider’s stock worth $890,000 after buying an additional 80 shares during the period. Finally, Goldstone Financial Group LLC bought a new stake in Alphabet during the 3rd quarter valued at about $461,000. Institutional investors own 27.26% of the company’s stock.

Analysts Set New Price Targets

GOOG has been the topic of a number of research analyst reports. Oppenheimer raised their target price on shares of Alphabet from $215.00 to $225.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Wedbush restated an “outperform” rating and set a $220.00 price objective on shares of Alphabet in a report on Thursday, January 30th. Benchmark reaffirmed a “negative” rating on shares of Alphabet in a research report on Wednesday, February 5th. Needham & Company LLC reissued a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. Finally, Citizens Jmp downgraded Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. One analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus target price of $209.13.

Insider Activity at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 1,367 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $170.41, for a total value of $232,950.47. Following the completion of the transaction, the chief accounting officer now owns 23,515 shares of the company’s stock, valued at approximately $4,007,191.15. This trade represents a 5.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Kavitark Ram Shriram sold 37,134 shares of the business’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $185.02, for a total transaction of $6,870,532.68. Following the sale, the director now directly owns 282,832 shares in the company, valued at $52,329,576.64. This trade represents a 11.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 134,309 shares of company stock valued at $25,057,490 in the last three months. 12.99% of the stock is owned by insiders.

Alphabet Price Performance

NASDAQ GOOG opened at $172.22 on Friday. The firm’s fifty day simple moving average is $192.17 and its two-hundred day simple moving average is $177.65. The firm has a market capitalization of $2.10 trillion, a P/E ratio of 21.39, a P/E/G ratio of 1.34 and a beta of 1.00. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 12-month low of $131.55 and a 12-month high of $208.70.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Analysts forecast that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.46%. Alphabet’s dividend payout ratio (DPR) is currently 9.94%.

Alphabet Company Profile

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.