EdgeRock Capital LLC Boosts Position in Alphabet Inc. (NASDAQ:GOOG)

EdgeRock Capital LLC raised its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 16.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,550 shares of the information services provider’s stock after acquiring an additional 503 shares during the period. Alphabet makes up about 0.4% of EdgeRock Capital LLC’s portfolio, making the stock its 29th biggest position. EdgeRock Capital LLC’s holdings in Alphabet were worth $510,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Cranbrook Wealth Management LLC lifted its position in Alphabet by 14.0% during the 4th quarter. Cranbrook Wealth Management LLC now owns 570 shares of the information services provider’s stock worth $80,000 after buying an additional 70 shares in the last quarter. Manchester Financial Inc. boosted its holdings in Alphabet by 3.6% during the fourth quarter. Manchester Financial Inc. now owns 2,124 shares of the information services provider’s stock worth $299,000 after buying an additional 74 shares during the last quarter. Atticus Wealth Management LLC increased its stake in shares of Alphabet by 1.4% in the 3rd quarter. Atticus Wealth Management LLC now owns 5,262 shares of the information services provider’s stock valued at $694,000 after acquiring an additional 75 shares during the last quarter. Congress Park Capital LLC boosted its stake in Alphabet by 0.3% during the 4th quarter. Congress Park Capital LLC now owns 22,542 shares of the information services provider’s stock worth $3,177,000 after acquiring an additional 76 shares during the last quarter. Finally, Emerald Advisors LLC increased its stake in Alphabet by 0.6% in the fourth quarter. Emerald Advisors LLC now owns 13,565 shares of the information services provider’s stock valued at $1,912,000 after purchasing an additional 76 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Activity at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $146.29, for a total value of $3,291,525.00. Following the sale, the chief executive officer now directly owns 2,377,691 shares of the company’s stock, valued at approximately $347,832,416.39. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $146.29, for a total value of $3,291,525.00. Following the transaction, the chief executive officer now directly owns 2,377,691 shares of the company’s stock, valued at approximately $347,832,416.39. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $136.49, for a total value of $93,086.18. Following the completion of the sale, the chief accounting officer now owns 28,602 shares of the company’s stock, valued at $3,903,886.98. The disclosure for this sale can be found here. Insiders have sold 275,129 shares of company stock worth $40,382,765 over the last ninety days. Insiders own 12.99% of the company’s stock.

Alphabet Price Performance

Alphabet stock traded up $3.15 during midday trading on Tuesday, reaching $172.98. The company’s stock had a trading volume of 21,087,028 shares, compared to its average volume of 22,735,842. The business has a 50-day moving average price of $152.74 and a 200-day moving average price of $144.21. Alphabet Inc. has a 52 week low of $105.79 and a 52 week high of $176.42. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05. The stock has a market cap of $2.14 trillion, a PE ratio of 26.53, a price-to-earnings-growth ratio of 1.26 and a beta of 1.02.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.38. The company had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $78.75 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The company’s revenue for the quarter was up 15.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.17 earnings per share. On average, sell-side analysts predict that Alphabet Inc. will post 7.66 EPS for the current year.

Alphabet Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on GOOG shares. Raymond James boosted their price objective on Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a research report on Wednesday, January 24th. Susquehanna raised their price target on Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a research note on Wednesday, January 31st. Oppenheimer increased their price objective on Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a report on Monday, April 8th. Morgan Stanley reaffirmed an “overweight” rating and set a $165.00 price target on shares of Alphabet in a research report on Thursday, April 11th. Finally, Stifel Nicolaus boosted their price objective on shares of Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $165.67.

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.