Alphabet Inc. (NASDAQ:GOOG) Stock Holdings Cut by Edgemoor Investment Advisors Inc.

Edgemoor Investment Advisors Inc. trimmed its position in Alphabet Inc. (NASDAQ:GOOG) by 3.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 232,395 shares of the information services provider’s stock after selling 7,312 shares during the period. Alphabet comprises 3.9% of Edgemoor Investment Advisors Inc.’s portfolio, making the stock its 6th biggest holding. Edgemoor Investment Advisors Inc.’s holdings in Alphabet were worth $44,257,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Fiduciary Advisors Inc. purchased a new position in shares of Alphabet during the 4th quarter valued at about $27,000. Weiss Asset Management LP purchased a new position in shares of Alphabet during the 3rd quarter valued at about $25,000. Safe Harbor Fiduciary LLC purchased a new position in shares of Alphabet during the 3rd quarter valued at about $33,000. Noble Wealth Management PBC purchased a new position in shares of Alphabet during the 4th quarter valued at about $43,000. Finally, FPC Investment Advisory Inc. raised its stake in Alphabet by 287.9% during the 4th quarter. FPC Investment Advisory Inc. now owns 225 shares of the information services provider’s stock valued at $46,000 after purchasing an additional 167 shares during the period. 27.26% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director John L. Hennessy sold 200 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $165.53, for a total value of $33,106.00. Following the completion of the sale, the director now owns 7,813 shares of the company’s stock, valued at approximately $1,293,285.89. This represents a 2.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider John Kent Walker sold 16,820 shares of the stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the transaction, the insider now owns 43,981 shares in the company, valued at approximately $8,471,620.22. This represents a 27.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 93,048 shares of company stock worth $17,374,274. 12.99% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on GOOG. Morgan Stanley reissued an “overweight” rating on shares of Alphabet in a research note on Wednesday, February 5th. Oppenheimer lifted their target price on Alphabet from $215.00 to $225.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Alphabet in a research note on Wednesday, February 5th. Citizens Jmp downgraded Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Finally, Needham & Company LLC reaffirmed a “buy” rating on shares of Alphabet in a research note on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and an average target price of $209.13.

Alphabet Price Performance

GOOG opened at $167.62 on Monday. The business has a fifty day moving average of $187.41 and a 200 day moving average of $178.10. Alphabet Inc. has a 52-week low of $141.13 and a 52-week high of $208.70. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The stock has a market cap of $2.04 trillion, a P/E ratio of 20.82, a PEG ratio of 1.34 and a beta of 1.03.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. As a group, sell-side analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date of this dividend is Monday, March 10th. Alphabet’s dividend payout ratio (DPR) is presently 9.94%.

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.