Edgestream Partners L.P. Purchases Shares of 21,535 Alphabet Inc. $GOOGL

Edgestream Partners L.P. acquired a new position in shares of Alphabet Inc. (NASDAQ:GOOGL) in the 2nd quarter, HoldingsChannel reports. The firm acquired 21,535 shares of the information services provider’s stock, valued at approximately $3,795,000.

A number of other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its position in Alphabet by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 516,559,609 shares of the information services provider’s stock valued at $91,033,300,000 after purchasing an additional 6,733,278 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Alphabet by 3.1% in the second quarter. Geode Capital Management LLC now owns 141,615,284 shares of the information services provider’s stock valued at $24,857,017,000 after buying an additional 4,224,497 shares in the last quarter. Norges Bank bought a new position in shares of Alphabet in the second quarter valued at about $21,944,208,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Alphabet by 11.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 43,865,520 shares of the information services provider’s stock valued at $6,783,364,000 after buying an additional 4,473,901 shares during the last quarter. Finally, Invesco Ltd. lifted its position in Alphabet by 1.4% during the 1st quarter. Invesco Ltd. now owns 43,648,514 shares of the information services provider’s stock worth $6,749,806,000 after buying an additional 593,345 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 954 shares of the firm’s stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $317.00, for a total transaction of $302,418.00. Following the sale, the chief accounting officer directly owned 11,740 shares in the company, valued at $3,721,580. This trade represents a 7.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director John L. Hennessy sold 600 shares of the business’s stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $280.06, for a total transaction of $168,036.00. Following the completion of the sale, the director directly owned 4,516 shares in the company, valued at $1,264,750.96. This represents a 11.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 226,128 shares of company stock valued at $61,326,372. Corporate insiders own 11.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on GOOGL shares. Melius Research raised their price objective on shares of Alphabet from $220.00 to $255.00 in a research report on Thursday, September 25th. JMP Securities reissued a “market outperform” rating and issued a $290.00 price target on shares of Alphabet in a report on Wednesday, October 22nd. President Capital boosted their price objective on shares of Alphabet from $258.00 to $323.00 and gave the stock a “buy” rating in a research report on Thursday, November 6th. China Renaissance increased their price objective on Alphabet from $207.00 to $330.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Finally, DA Davidson reissued a “neutral” rating and issued a $300.00 target price on shares of Alphabet in a research note on Tuesday, November 25th. Four analysts have rated the stock with a Strong Buy rating, forty-one have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and an average price target of $312.65.

Alphabet Stock Performance

Shares of Alphabet stock opened at $317.08 on Wednesday. The stock’s fifty day simple moving average is $279.02 and its 200 day simple moving average is $226.96. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $3.83 trillion, a PE ratio of 31.27, a PEG ratio of 1.82 and a beta of 1.07. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $328.83.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. The firm had revenue of $102.35 billion during the quarter, compared to analysts’ expectations of $99.90 billion. Alphabet had a return on equity of 35.00% and a net margin of 32.23%. On average, research analysts predict that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Monday, December 8th. Alphabet’s dividend payout ratio is presently 8.28%.

Alphabet Company 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.