Newbridge Financial Services Group Inc. decreased its holdings in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 12.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,171 shares of the information services provider’s stock after selling 2,220 shares during the quarter. Alphabet makes up approximately 0.8% of Newbridge Financial Services Group Inc.’s holdings, making the stock its 13th largest holding. Newbridge Financial Services Group Inc.’s holdings in Alphabet were worth $1,578,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also modified their holdings of the company. DC Investments Management LLC purchased a new stake in shares of Alphabet during the 1st quarter worth about $115,000. Guardian Wealth Management Inc. purchased a new position in Alphabet in the 1st quarter worth approximately $184,000. Turim 21 Investimentos Ltda. boosted its holdings in Alphabet by 10.8% in the 1st quarter. Turim 21 Investimentos Ltda. now owns 82 shares of the information services provider’s stock worth $229,000 after acquiring an additional 8 shares during the period. qPULA Trading Management LP purchased a new position in Alphabet in the 1st quarter worth approximately $279,000. Finally, Wayfinding Financial LLC purchased a new position in Alphabet in the 4th quarter worth approximately $294,000. Hedge funds and other institutional investors own 27.17% of the company’s stock.
Insider Transactions at Alphabet
In other news, Director Frances Arnold sold 240 shares of the stock in a transaction on Thursday, June 29th. The stock was sold at an average price of $120.02, for a total value of $28,804.80. Following the completion of the transaction, the director now owns 13,040 shares of the company’s stock, valued at $1,565,060.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, major shareholder 2019 Gp L.L.C. Gv sold 100,772 shares of the firm’s stock in a transaction dated Monday, May 8th. The stock was sold at an average price of $14.13, for a total transaction of $1,423,908.36. Following the completion of the transaction, the insider now owns 11,421,476 shares of the company’s stock, valued at $161,385,455.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Frances Arnold sold 240 shares of the firm’s stock in a transaction dated Thursday, June 29th. The shares were sold at an average price of $120.02, for a total value of $28,804.80. Following the transaction, the director now directly owns 13,040 shares of the company’s stock, valued at approximately $1,565,060.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 848,978 shares of company stock valued at $27,492,109. 12.99% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
Alphabet Price Performance
Shares of GOOG opened at $120.97 on Friday. The company has a market cap of $1.54 trillion, a P/E ratio of 26.94, a PEG ratio of 1.55 and a beta of 1.09. The stock has a fifty day moving average price of $118.76 and a 200 day moving average price of $104.58. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.35 and a quick ratio of 2.32. Alphabet Inc. has a 12 month low of $83.45 and a 12 month high of $129.55.
Alphabet (NASDAQ:GOOG – Free Report) last released its quarterly earnings results on Tuesday, April 25th. The information services provider reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.11. Alphabet had a return on equity of 22.84% and a net margin of 20.58%. The company had revenue of $69.79 billion during the quarter, compared to analysts’ expectations of $68.80 billion. During the same quarter in the prior year, the business posted $1.23 earnings per share. The company’s revenue for the quarter was up 2.6% compared to the same quarter last year. On average, research analysts forecast that Alphabet Inc. will post 5.39 earnings per share for the current year.
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, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
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