Bright Financial Advisors Inc. Invests $234,000 in Alphabet Inc. (NASDAQ:GOOG)

Bright Financial Advisors Inc. bought a new position in shares of Alphabet Inc. (NASDAQ:GOOG) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,400 shares of the information services provider’s stock, valued at approximately $234,000.

Other institutional investors also recently bought and sold shares of the company. Park Avenue Securities LLC lifted its position in shares of Alphabet by 11.9% in the first quarter. Park Avenue Securities LLC now owns 109,878 shares of the information services provider’s stock worth $16,730,000 after buying an additional 11,646 shares in the last quarter. Colonial River Wealth Management LLC raised its holdings in shares of Alphabet by 5.3% during the 2nd quarter. Colonial River Wealth Management LLC now owns 2,126 shares of the information services provider’s stock worth $390,000 after acquiring an additional 107 shares in the last quarter. Oak Ridge Investments LLC boosted its position in shares of Alphabet by 4.6% during the 1st quarter. Oak Ridge Investments LLC now owns 187,229 shares of the information services provider’s stock valued at $28,508,000 after acquiring an additional 8,201 shares during the last quarter. Rosenberg Matthew Hamilton grew its holdings in shares of Alphabet by 4.6% in the second quarter. Rosenberg Matthew Hamilton now owns 11,366 shares of the information services provider’s stock valued at $2,097,000 after purchasing an additional 498 shares in the last quarter. Finally, Alliance Wealth Management Group increased its position in Alphabet by 93.6% in the first quarter. Alliance Wealth Management Group now owns 3,910 shares of the information services provider’s stock worth $595,000 after purchasing an additional 1,890 shares during the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Pivotal Research assumed coverage on shares of Alphabet in a research note on Tuesday, October 1st. They issued a “buy” rating and a $215.00 price objective for the company. UBS Group dropped their price target on Alphabet from $204.00 to $187.00 and set a “neutral” rating for the company in a research report on Monday, October 7th. Cantor Fitzgerald upgraded Alphabet to a “hold” rating in a research report on Thursday, September 5th. Wolfe Research raised Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. Finally, TD Cowen boosted their target price on Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and a consensus target price of $186.90.

Alphabet Trading Up 0.8 %

Alphabet stock traded up $1.34 during mid-day trading on Friday, hitting $164.52. The company’s stock had a trading volume of 10,945,971 shares, compared to its average volume of 19,793,420. Alphabet Inc. has a one year low of $121.46 and a one year high of $193.31. The stock has a market cap of $2.03 trillion, a PE ratio of 25.23, a P/E/G ratio of 1.21 and a beta of 1.04. The company has a 50 day moving average of $162.81 and a 200-day moving average of $169.25. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. The firm had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $84.22 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The business’s revenue for the quarter was up 13.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.44 earnings per share. On average, research analysts anticipate that Alphabet Inc. will post 7.64 EPS for the current year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend was Monday, September 9th. Alphabet’s dividend payout ratio is presently 12.27%.

Insider Activity at Alphabet

In other news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total transaction of $114,576.00. Following the transaction, the chief accounting officer now owns 31,334 shares of the company’s stock, valued at approximately $5,264,112. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total value of $3,652,875.00. Following the transaction, the chief executive officer now owns 2,182,385 shares in the company, valued at $354,310,204.75. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $168.00, for a total transaction of $114,576.00. Following the sale, the chief accounting officer now directly owns 31,334 shares of the company’s stock, valued at approximately $5,264,112. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 216,092 shares of company stock worth $35,644,136. Company insiders own 12.99% of the company’s stock.

Alphabet 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.