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

EdgeRock Capital LLC raised its holdings in Alphabet Inc. (NASDAQ:GOOGLFree Report) by 16.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,476 shares of the information services provider’s stock after purchasing an additional 616 shares during the period. Alphabet comprises approximately 0.5% of EdgeRock Capital LLC’s holdings, making the stock its 25th largest holding. EdgeRock Capital LLC’s holdings in Alphabet were worth $637,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in GOOGL. FMR LLC lifted its holdings in Alphabet by 5.6% during the 3rd quarter. FMR LLC now owns 227,317,469 shares of the information services provider’s stock worth $29,746,764,000 after buying an additional 12,070,681 shares during the last quarter. Northern Trust Corp raised its position in shares of Alphabet by 3.7% during the 3rd quarter. Northern Trust Corp now owns 67,684,197 shares of the information services provider’s stock valued at $8,857,154,000 after acquiring an additional 2,416,328 shares in the last quarter. Fisher Asset Management LLC lifted its stake in Alphabet by 3.4% during the fourth quarter. Fisher Asset Management LLC now owns 45,220,857 shares of the information services provider’s stock worth $6,316,902,000 after purchasing an additional 1,472,043 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Alphabet by 2.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 34,910,194 shares of the information services provider’s stock worth $4,876,605,000 after purchasing an additional 874,919 shares during the period. Finally, American Century Companies Inc. increased its stake in Alphabet by 7.8% during the third quarter. American Century Companies Inc. now owns 25,064,614 shares of the information services provider’s stock valued at $3,279,955,000 after purchasing an additional 1,809,910 shares during the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Alphabet news, Director John L. Hennessy sold 300 shares of Alphabet stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $139.51, for a total transaction of $41,853.00. Following the transaction, the director now owns 9,291 shares of the company’s stock, valued at approximately $1,296,187.41. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Alphabet news, insider John Kent Walker sold 48,076 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $142.20, for a total value of $6,836,407.20. Following the transaction, the insider now owns 12,725 shares in the company, valued at $1,809,495. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John L. Hennessy sold 300 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $139.51, for a total value of $41,853.00. Following the sale, the director now directly owns 9,291 shares of the company’s stock, valued at $1,296,187.41. The disclosure for this sale can be found here. In the last ninety days, insiders sold 254,011 shares of company stock valued at $37,337,245. Corporate insiders own 0.88% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Argus boosted their price objective on shares of Alphabet from $170.00 to $200.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Barclays increased their price target on Alphabet from $173.00 to $200.00 and gave the stock an “overweight” rating in a research report on Friday, April 26th. Loop Capital boosted their price objective on Alphabet from $155.00 to $170.00 and gave the company a “hold” rating in a research report on Wednesday, May 1st. Wolfe Research upped their price objective on Alphabet from $180.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Finally, BMO Capital Markets raised their target price on Alphabet from $185.00 to $215.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Five equities research analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $190.60.

Read Our Latest Stock Analysis on Alphabet

Alphabet Price Performance

GOOGL stock opened at $170.34 on Wednesday. The firm has a 50-day moving average of $154.03 and a two-hundred day moving average of $143.91. The firm has a market capitalization of $2.11 trillion, a PE ratio of 26.13, a P/E/G ratio of 1.30 and a beta of 1.02. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a one year low of $115.35 and a one year high of $174.71.

Alphabet (NASDAQ:GOOGLGet Free Report) last posted its quarterly earnings data 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 net margin of 25.90% and a return on equity of 29.52%. The firm had revenue of $80.54 billion during the quarter, compared to analyst estimates of $66.04 billion. During the same quarter last year, the business posted $1.17 EPS. On average, analysts forecast that Alphabet Inc. will post 7.57 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 10th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.47%. The ex-dividend date is Monday, June 10th.

Alphabet Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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