Bridgewealth Advisory Group LLC Buys 358 Shares of Alphabet Inc. (NASDAQ:GOOG)

Bridgewealth Advisory Group LLC raised its position in Alphabet Inc. (NASDAQ:GOOG) by 20.2% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 2,127 shares of the information services provider’s stock after acquiring an additional 358 shares during the period. Bridgewealth Advisory Group LLC’s holdings in Alphabet were worth $400,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in GOOG. Fiduciary Advisors Inc. bought a new stake in shares of Alphabet in the fourth quarter valued at approximately $27,000. LSV Asset Management purchased a new position in Alphabet in the 4th quarter valued at approximately $27,000. WealthTrak Capital Management LLC bought a new stake in Alphabet during the 4th quarter valued at $38,000. Mountain Hill Investment Partners Corp. purchased a new stake in shares of Alphabet during the fourth quarter worth $39,000. Finally, Noble Wealth Management PBC bought a new position in shares of Alphabet in the fourth quarter worth $43,000. Institutional investors own 27.26% of the company’s stock.

Insider Activity

In other Alphabet news, insider John Kent Walker sold 17,690 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $185.51, for a total value of $3,281,671.90. Following the completion of the transaction, the insider now owns 43,111 shares in the company, valued at approximately $7,997,521.61. This represents a 29.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 1,340 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $202.08, for a total transaction of $270,787.20. Following the sale, the chief accounting officer now owns 17,848 shares in the company, valued at approximately $3,606,723.84. This trade represents a 6.98 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 148,163 shares of company stock valued at $25,361,647. Company insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

Alphabet stock opened at $162.06 on Wednesday. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The firm has a fifty day simple moving average of $163.26 and a two-hundred day simple moving average of $177.23. The company has a market capitalization of $1.98 trillion, a PE ratio of 20.13, a P/E/G ratio of 1.34 and a beta of 1.04. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $208.70.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping the consensus estimate of $2.02 by $0.79. The company had revenue of $90.23 billion for the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. The firm’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.89 earnings per share. Research analysts expect that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be given a dividend of $0.21 per share. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date is Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a yield of 0.52%. Alphabet’s dividend payout ratio is presently 9.36%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Cantor Fitzgerald reissued a “neutral” rating and set a $171.00 price objective on shares of Alphabet in a report on Friday. UBS Group cut their price objective on shares of Alphabet from $209.00 to $173.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. Wedbush reaffirmed an “outperform” rating and set a $220.00 target price on shares of Alphabet in a report on Thursday, January 30th. KeyCorp cut their price target on shares of Alphabet from $202.00 to $185.00 and set an “overweight” rating for the company in a report on Wednesday, April 9th. Finally, Rosenblatt Securities upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 25th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have issued a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $203.94.

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.