Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Edge Capital Group LLC

Edge Capital Group LLC lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 49,174 shares of the information services provider’s stock after selling 155 shares during the quarter. Edge Capital Group LLC’s holdings in Alphabet were worth $9,019,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Gilbert & Cook Inc. grew its holdings in Alphabet by 15.5% in the 4th quarter. Gilbert & Cook Inc. now owns 29,159 shares of the information services provider’s stock valued at $4,109,000 after buying an additional 3,924 shares in the last quarter. Concentrum Wealth Management increased its position in Alphabet by 25.0% during the fourth quarter. Concentrum Wealth Management now owns 16,440 shares of the information services provider’s stock worth $2,317,000 after purchasing an additional 3,283 shares during the last quarter. Aveo Capital Partners LLC raised its stake in Alphabet by 2.4% during the fourth quarter. Aveo Capital Partners LLC now owns 6,647 shares of the information services provider’s stock worth $937,000 after purchasing an additional 154 shares during the period. Congress Wealth Management LLC DE boosted its holdings in Alphabet by 87.0% in the 4th quarter. Congress Wealth Management LLC DE now owns 91,126 shares of the information services provider’s stock valued at $12,842,000 after purchasing an additional 42,402 shares during the last quarter. Finally, Glassman Wealth Services boosted its holdings in Alphabet by 1.0% in the 4th quarter. Glassman Wealth Services now owns 25,719 shares of the information services provider’s stock valued at $3,625,000 after purchasing an additional 264 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $160.63, for a total transaction of $3,614,175.00. Following the sale, the chief executive officer now owns 2,114,885 shares of the company’s stock, valued at $339,713,977.55. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $160.63, for a total transaction of $3,614,175.00. Following the sale, the chief executive officer now owns 2,114,885 shares of the company’s stock, valued at approximately $339,713,977.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Prabhakar Raghavan sold 34,257 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total value of $5,570,188.20. Following the completion of the sale, the senior vice president now owns 312,210 shares in the company, valued at approximately $50,765,346. The disclosure for this sale can be found here. Insiders have sold a total of 202,667 shares of company stock valued at $33,964,256 in the last ninety days. 12.99% of the stock is currently owned by company insiders.

Alphabet Trading Up 0.9 %

NASDAQ:GOOG opened at $164.64 on Friday. The company has a market capitalization of $2.03 trillion, a PE ratio of 25.25, a P/E/G 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. The stock’s 50 day moving average price is $166.26 and its 200 day moving average price is $167.02. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. The company had revenue of $84.74 billion for the quarter, compared to analyst estimates of $84.22 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The firm’s revenue for the quarter was up 13.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.44 EPS. On average, research analysts anticipate that Alphabet Inc. will post 7.63 EPS for the current year.

Alphabet Announces Dividend

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

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Oppenheimer increased their price target on Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. DA Davidson raised shares of Alphabet to a “hold” rating in a research note on Tuesday, September 10th. Rosenblatt Securities cut shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target for the company. in a research report on Friday, June 28th. Wolfe Research upgraded 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 stock a “buy” rating in a research note on Wednesday, July 10th. Three equities research 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 data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $182.86.

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.