Edgestream Partners L.P. Has $3.19 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Edgestream Partners L.P. raised its holdings in Alphabet Inc. (NASDAQ:GOOG) by 13.2% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 17,407 shares of the information services provider’s stock after acquiring an additional 2,031 shares during the quarter. Edgestream Partners L.P.’s holdings in Alphabet were worth $3,193,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of GOOG. 1620 Investment Advisors Inc. acquired a new position in Alphabet during the 2nd quarter worth about $37,000. Richardson Financial Services Inc. acquired a new position in shares of Alphabet in the fourth quarter worth approximately $34,000. Slocum Gordon & Co LLP bought a new stake in Alphabet in the second quarter valued at approximately $44,000. Hoese & Co LLP increased its position in Alphabet by 62.5% during the 2nd quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock valued at $45,000 after purchasing an additional 100 shares during the period. Finally, Iron Horse Wealth Management LLC bought a new position in Alphabet during the 2nd quarter worth approximately $48,000. Institutional investors own 27.26% of the company’s stock.

Alphabet Price Performance

GOOG stock opened at $160.81 on Thursday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. The business has a 50-day simple moving average of $167.19 and a two-hundred day simple moving average of $166.60. The company has a market capitalization of $1.99 trillion, a P/E ratio of 24.66, a price-to-earnings-growth ratio of 1.13 and a beta of 1.04. Alphabet Inc. has a 52-week low of $121.46 and a 52-week high of $193.31.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The business had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $84.22 billion. During the same period last year, the business earned $1.44 EPS. The business’s revenue was up 13.6% on a year-over-year basis. Research analysts expect that Alphabet Inc. will post 7.63 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date was Monday, September 9th. Alphabet’s payout ratio is 12.27%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on GOOG shares. Wolfe Research upgraded shares of Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. Rosenblatt Securities downgraded Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target for the company. in a report on Friday, June 28th. Oppenheimer boosted their price objective on Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Cantor Fitzgerald raised Alphabet to a “hold” rating in a research note on Thursday, September 5th. Finally, DA Davidson raised shares of Alphabet to a “hold” rating in a research report on Tuesday, September 10th. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $182.86.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total value of $125,126.54. Following the completion of the transaction, the chief accounting officer now owns 30,650 shares in the company, valued at approximately $5,623,355.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total value of $125,126.54. Following the transaction, the chief accounting officer now directly owns 30,650 shares in the company, valued at $5,623,355.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $186.74, for a total transaction of $4,201,650.00. Following the sale, the chief executive officer now owns 2,227,385 shares of the company’s stock, valued at approximately $415,941,874.90. The disclosure for this sale can be found here. Over the last three months, insiders have sold 202,667 shares of company stock worth $33,964,256. 12.99% of the stock is owned by company insiders.

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.