Edge Capital Group LLC Boosts Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Edge Capital Group LLC grew its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 50,991 shares of the information services provider’s stock after acquiring an additional 170 shares during the quarter. Edge Capital Group LLC’s holdings in Alphabet were worth $7,186,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of GOOG. Veracity Capital LLC boosted its holdings in shares of Alphabet by 12.4% in the 4th quarter. Veracity Capital LLC now owns 10,597 shares of the information services provider’s stock worth $1,493,000 after buying an additional 1,173 shares during the last quarter. Independence Bank of Kentucky boosted its holdings in shares of Alphabet by 25.3% in the 4th quarter. Independence Bank of Kentucky now owns 6,093 shares of the information services provider’s stock worth $859,000 after buying an additional 1,230 shares during the last quarter. Strategic Blueprint LLC boosted its holdings in shares of Alphabet by 36.7% in the 4th quarter. Strategic Blueprint LLC now owns 15,068 shares of the information services provider’s stock worth $2,123,000 after buying an additional 4,044 shares during the last quarter. Investment Partners LTD. raised its stake in Alphabet by 5.8% in the 4th quarter. Investment Partners LTD. now owns 7,446 shares of the information services provider’s stock valued at $1,049,000 after acquiring an additional 410 shares during the period. Finally, Global Trust Asset Management LLC lifted its holdings in Alphabet by 4.5% during the fourth quarter. Global Trust Asset Management LLC now owns 14,916 shares of the information services provider’s stock valued at $2,102,000 after purchasing an additional 648 shares during the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total transaction of $2,985,750.00. Following the sale, the chief executive officer now owns 2,332,691 shares in the company, valued at $309,548,095.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $173.86, for a total transaction of $118,572.52. Following the transaction, the chief accounting officer now directly owns 29,966 shares of the company’s stock, valued at $5,209,888.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $132.70, for a total value of $2,985,750.00. Following the completion of the sale, the chief executive officer now directly owns 2,332,691 shares of the company’s stock, valued at approximately $309,548,095.70. The disclosure for this sale can be found here. Insiders have sold 205,835 shares of company stock valued at $31,190,652 in the last quarter. Insiders own 12.99% of the company’s stock.

Alphabet Price Performance

NASDAQ GOOG traded up $0.46 on Monday, hitting $174.42. The stock had a trading volume of 18,376,370 shares, compared to its average volume of 21,804,484. The firm has a 50-day moving average of $165.39 and a 200-day moving average of $150.04. The company has a market capitalization of $2.16 trillion, a price-to-earnings ratio of 26.75, a price-to-earnings-growth ratio of 1.29 and a beta of 1.01. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15. Alphabet Inc. has a 52-week low of $115.83 and a 52-week high of $179.95.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.51 by $0.38. 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 the consensus estimate of $78.75 billion. During the same quarter last year, the business posted $1.17 earnings per share. The firm’s revenue was up 15.4% compared to the same quarter last year. Equities analysts expect that Alphabet Inc. will post 7.69 EPS for the current year.

Alphabet Dividend Announcement

The business also recently declared a — dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 10th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Monday, June 10th.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Oppenheimer lifted their target price on shares of Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research note on Monday, April 8th. Stifel Nicolaus boosted their target price on shares of Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $165.00 price target on shares of Alphabet in a report on Thursday, April 11th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $165.67.

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.