Park Edge Advisors LLC Acquires 670 Shares of Alphabet Inc. (NASDAQ:GOOG)

Park Edge Advisors LLC increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 10.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,973 shares of the information services provider’s stock after acquiring an additional 670 shares during the period. Park Edge Advisors LLC’s holdings in Alphabet were worth $1,328,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Weiss Asset Management LP purchased a new position in shares of Alphabet in the 3rd quarter worth about $25,000. Safe Harbor Fiduciary LLC bought a new stake in Alphabet during the 3rd quarter valued at about $33,000. Sanctuary Wealth Management L.L.C. raised its holdings in Alphabet by 87.3% in the third quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock worth $42,000 after buying an additional 117 shares during the last quarter. Iron Horse Wealth Management LLC lifted its stake in shares of Alphabet by 32.3% in the third quarter. Iron Horse Wealth Management LLC now owns 344 shares of the information services provider’s stock worth $57,000 after buying an additional 84 shares in the last quarter. Finally, Kieckhefer Group LLC purchased a new stake in shares of Alphabet during the fourth quarter valued at approximately $76,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Buying and Selling at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $177.36, for a total value of $3,990,600.00. Following the transaction, the chief executive officer now directly owns 2,084,306 shares in the company, valued at $369,672,512.16. The trade was a 1.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 1,367 shares of the company’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $171.42, for a total value of $234,331.14. Following the completion of the transaction, the chief accounting officer now directly owns 26,349 shares of the company’s stock, valued at approximately $4,516,745.58. This trade represents a 4.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 122,887 shares of company stock valued at $22,470,464 over the last 90 days. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Stock Performance

NASDAQ:GOOG opened at $197.07 on Wednesday. The stock has a 50-day simple moving average of $188.29 and a two-hundred day simple moving average of $175.13. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. Alphabet Inc. has a 52-week low of $131.55 and a 52-week high of $203.84. The firm has a market capitalization of $2.41 trillion, a PE ratio of 26.14, a P/E/G ratio of 1.27 and a beta of 0.99.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The company had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $86.39 billion. During the same period in the previous year, the company posted $1.55 EPS. The firm’s revenue was up 15.1% on a year-over-year basis. Analysts forecast that Alphabet Inc. will post 8.02 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on GOOG. Barclays boosted their price objective on shares of Alphabet from $200.00 to $220.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Oppenheimer boosted their price target on Alphabet from $185.00 to $215.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. UBS Group increased their price objective on Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Wells Fargo & Company boosted their target price on Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Finally, Citigroup raised their price target on shares of Alphabet from $212.00 to $216.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Six equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $205.13.

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.