Alphabet Inc. (NASDAQ:GOOGL) Shares Purchased by EdgeRock Capital LLC

EdgeRock Capital LLC grew its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 13.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,258 shares of the information services provider’s stock after buying an additional 859 shares during the period. Alphabet accounts for 0.9% of EdgeRock Capital LLC’s investment portfolio, making the stock its 19th biggest position. EdgeRock Capital LLC’s holdings in Alphabet were worth $1,374,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently made changes to their positions in the stock. Compass Planning Associates Inc purchased a new stake in Alphabet in the 4th quarter worth approximately $30,000. LMR Partners LLP acquired a new stake in shares of Alphabet during the third quarter worth $32,000. E Fund Management Hong Kong Co. Ltd. grew its position in shares of Alphabet by 518.8% in the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock valued at $37,000 after purchasing an additional 166 shares during the period. Fiduciary Advisors Inc. acquired a new position in Alphabet in the fourth quarter valued at $39,000. Finally, PayPay Securities Corp lifted its position in Alphabet by 36.1% during the fourth quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock worth $46,000 after buying an additional 65 shares during the period. 40.03% of the stock is owned by institutional investors and hedge funds.

Alphabet Trading Up 0.9 %

NASDAQ GOOGL opened at $173.86 on Monday. The company has a market capitalization of $2.12 trillion, a price-to-earnings ratio of 21.60, a price-to-earnings-growth ratio of 1.34 and a beta of 1.02. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. Alphabet Inc. has a 12 month low of $134.00 and a 12 month high of $207.05. The company’s fifty day moving average price is $188.21 and its two-hundred day moving average price is $176.54.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. As a group, research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.46%. Alphabet’s dividend payout ratio (DPR) is 9.94%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Bank of America restated a “buy” rating and issued a $210.00 price target on shares of Alphabet in a report on Monday, December 23rd. JPMorgan Chase & Co. lowered their target price on shares of Alphabet from $232.00 to $220.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. Wolfe Research increased their price target on shares of Alphabet from $220.00 to $230.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. KeyCorp boosted their price objective on shares of Alphabet from $215.00 to $225.00 and gave the company an “overweight” rating in a research note on Friday, January 10th. Finally, Citizens Jmp lowered Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. Ten analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $210.62.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 2,834 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $197.55, for a total value of $559,856.70. Following the sale, the chief accounting officer now owns 20,681 shares of the company’s stock, valued at approximately $4,085,531.55. This trade represents a 12.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Ruth Porat sold 17,690 shares of the company’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $183.48, for a total value of $3,245,761.20. Following the transaction, the insider now owns 1,449,286 shares of the company’s stock, valued at approximately $265,914,995.28. The trade was a 1.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 134,316 shares of company stock valued at $25,062,887. Corporate insiders own 11.55% 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.