Edge Capital Group LLC Has $5.12 Million Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Edge Capital Group LLC grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOGLFree Report) by 4.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 36,679 shares of the information services provider’s stock after acquiring an additional 1,474 shares during the quarter. Edge Capital Group LLC’s holdings in Alphabet were worth $5,124,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. RWQ Financial Management Services Inc. raised its position in Alphabet by 8.2% in the fourth quarter. RWQ Financial Management Services Inc. now owns 61,499 shares of the information services provider’s stock valued at $8,591,000 after purchasing an additional 4,664 shares during the last quarter. Picton Mahoney Asset Management increased its stake in shares of Alphabet by 55.4% in the fourth quarter. Picton Mahoney Asset Management now owns 214,443 shares of the information services provider’s stock valued at $29,956,000 after buying an additional 76,410 shares during the period. Robbins Farley raised its holdings in Alphabet by 0.8% in the 4th quarter. Robbins Farley now owns 15,006 shares of the information services provider’s stock valued at $2,096,000 after buying an additional 118 shares during the last quarter. Quantum Financial Advisors LLC boosted its position in Alphabet by 8.0% during the 3rd quarter. Quantum Financial Advisors LLC now owns 7,623 shares of the information services provider’s stock worth $998,000 after buying an additional 564 shares during the period. Finally, Colton Groome Financial Advisors LLC grew its holdings in Alphabet by 3.8% during the 4th quarter. Colton Groome Financial Advisors LLC now owns 2,700 shares of the information services provider’s stock worth $377,000 after acquiring an additional 100 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $154.79, for a total value of $105,566.78. Following the sale, the chief accounting officer now directly owns 29,284 shares in the company, valued at approximately $4,532,870.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $176.58, for a total value of $3,973,050.00. Following the completion of the transaction, the chief executive officer now owns 2,235,511 shares in the company, valued at $394,746,532.38. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $154.79, for a total value of $105,566.78. Following the transaction, the chief accounting officer now owns 29,284 shares in the company, valued at approximately $4,532,870.36. The disclosure for this sale can be found here. Insiders sold 205,835 shares of company stock valued at $32,177,952 over the last 90 days. Corporate insiders own 11.55% of the company’s stock.

Alphabet Stock Up 0.9 %

Shares of Alphabet stock opened at $175.41 on Thursday. Alphabet Inc. has a twelve month low of $115.35 and a twelve month high of $178.77. The company has a market cap of $2.17 trillion, a price-to-earnings ratio of 26.90, a price-to-earnings-growth ratio of 1.31 and a beta of 1.01. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. The company’s 50 day moving average is $164.82 and its 200 day moving average is $149.09.

Alphabet (NASDAQ:GOOGLGet Free Report) last posted its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.40. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The company had revenue of $80.54 billion for the quarter, compared to analysts’ expectations of $66.04 billion. During the same period in the previous year, the firm earned $1.17 EPS. Research analysts anticipate that Alphabet Inc. will post 7.6 EPS for the current year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 10th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.46%. The ex-dividend date is Monday, June 10th.

Analysts Set New Price Targets

A number of equities analysts have recently commented on GOOGL shares. Royal Bank of Canada lifted their price target on shares of Alphabet from $155.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Evercore ISI lifted their target price on Alphabet from $160.00 to $220.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Wolfe Research increased their price target on Alphabet from $180.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Morgan Stanley reaffirmed an “overweight” rating and issued a $195.00 price objective on shares of Alphabet in a research note on Wednesday, May 15th. Finally, Susquehanna boosted their price target on shares of Alphabet from $170.00 to $225.00 and gave the stock a “positive” rating in a research report on Monday, April 29th. Five analysts have rated the stock with a hold rating, thirty have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $191.57.

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Alphabet Profile

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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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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