Edgemoor Investment Advisors Inc. Has $28.86 Million Position in Alphabet Inc. (NASDAQ:GOOGL)

Edgemoor Investment Advisors Inc. boosted its position in Alphabet Inc. (NASDAQ:GOOGL) by 0.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 158,436 shares of the information services provider’s stock after buying an additional 674 shares during the period. Alphabet makes up approximately 2.7% of Edgemoor Investment Advisors Inc.’s portfolio, making the stock its 11th biggest position. Edgemoor Investment Advisors Inc.’s holdings in Alphabet were worth $28,859,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in GOOGL. MorganRosel Wealth Management LLC boosted its position in Alphabet by 3.6% during the second quarter. MorganRosel Wealth Management LLC now owns 1,620 shares of the information services provider’s stock valued at $295,000 after buying an additional 57 shares during the period. Hengehold Capital Management LLC boosted its position in Alphabet by 0.8% during the second quarter. Hengehold Capital Management LLC now owns 7,224 shares of the information services provider’s stock valued at $1,316,000 after buying an additional 60 shares during the period. Christopher J. Hasenberg Inc boosted its position in Alphabet by 75.0% during the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after buying an additional 60 shares during the period. Joseph P. Lucia & Associates LLC boosted its position in Alphabet by 1.0% during the first quarter. Joseph P. Lucia & Associates LLC now owns 6,624 shares of the information services provider’s stock valued at $1,000,000 after buying an additional 64 shares during the period. Finally, Sunflower Bank N.A. boosted its position in Alphabet by 1.0% during the second quarter. Sunflower Bank N.A. now owns 6,309 shares of the information services provider’s stock valued at $1,149,000 after buying an additional 65 shares during the period. 40.03% of the stock is owned by institutional investors.

Alphabet Stock Performance

Shares of GOOGL opened at $161.85 on Tuesday. The company has a 50-day simple moving average of $164.23 and a 200-day simple moving average of $165.98. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $2.00 trillion, a PE ratio of 24.82, a P/E/G ratio of 1.13 and a beta of 1.04. Alphabet Inc. has a 52-week low of $120.21 and a 52-week high of $191.75.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The business had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $70.60 billion. During the same quarter last year, the firm posted $1.44 EPS. Equities research analysts predict that Alphabet Inc. will post 7.64 earnings per share for the current fiscal year.

Alphabet Announces Dividend

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

Analysts Set New Price Targets

GOOGL has been the subject of a number of analyst reports. Cantor Fitzgerald reiterated a “neutral” rating and set a $190.00 target price on shares of Alphabet in a report on Monday. DA Davidson initiated coverage on shares of Alphabet in a report on Tuesday, September 10th. They set a “neutral” rating and a $170.00 target price for the company. Wolfe Research initiated coverage on shares of Alphabet in a report on Tuesday, July 16th. They set an “outperform” rating and a $240.00 target price for the company. BMO Capital Markets reiterated an “outperform” rating and set a $222.00 target price on shares of Alphabet in a report on Monday, September 16th. Finally, Truist Financial reiterated a “buy” rating and set a $196.00 target price on shares of Alphabet in a report on Monday, September 16th. Eight equities research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $201.08.

Insiders Place Their Bets

In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $182.84, for a total value of $4,113,900.00. Following the sale, the chief executive officer now directly owns 2,204,885 shares of the company’s stock, valued at $403,141,173.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total transaction of $125,126.54. Following the sale, the chief accounting officer now owns 30,650 shares in the company, valued at $5,623,355.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $182.84, for a total transaction of $4,113,900.00. Following the sale, the chief executive officer now owns 2,204,885 shares in the company, valued at approximately $403,141,173.40. The disclosure for this sale can be found here. Insiders have sold 180,167 shares of company stock valued at $29,762,606 in the last ninety days. Insiders own 11.55% of the company’s stock.

About Alphabet

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.