EdgeRock Capital LLC Purchases 417 Shares of Alphabet Inc. (NASDAQ:GOOG)

EdgeRock Capital LLC increased its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 12.8% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 3,668 shares of the information services provider’s stock after acquiring an additional 417 shares during the quarter. EdgeRock Capital LLC’s holdings in Alphabet were worth $699,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of GOOG. Swedbank AB grew its holdings in Alphabet by 0.6% during the third quarter. Swedbank AB now owns 8,338,900 shares of the information services provider’s stock worth $1,394,181,000 after buying an additional 51,226 shares in the last quarter. Hudson Valley Investment Advisors Inc. ADV grew its holdings in Alphabet by 0.6% during the third quarter. Hudson Valley Investment Advisors Inc. ADV now owns 113,127 shares of the information services provider’s stock worth $18,914,000 after buying an additional 623 shares in the last quarter. Cornerstone Wealth Group LLC grew its holdings in Alphabet by 3.7% during the third quarter. Cornerstone Wealth Group LLC now owns 16,076 shares of the information services provider’s stock worth $2,688,000 after buying an additional 570 shares in the last quarter. S.A. Mason LLC grew its holdings in Alphabet by 1.5% during the third quarter. S.A. Mason LLC now owns 5,325 shares of the information services provider’s stock worth $890,000 after buying an additional 80 shares in the last quarter. Finally, Goldstone Financial Group LLC bought a new stake in Alphabet during the third quarter worth $461,000. Institutional investors own 27.26% of the company’s stock.

Analysts Set New Price Targets

GOOG has been the subject of several recent research reports. Citizens Jmp downgraded Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Morgan Stanley reissued an “overweight” rating on shares of Alphabet in a research report on Wednesday, February 5th. Scotiabank boosted their price objective on Alphabet from $212.00 to $240.00 and gave the stock a “sector outperform” rating in a research report on Friday, January 24th. Phillip Securities raised Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. Finally, Oppenheimer boosted their price objective on Alphabet from $215.00 to $225.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. One analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $209.13.

Alphabet Stock Up 1.2 %

Shares of NASDAQ GOOG opened at $172.22 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. Alphabet Inc. has a one year low of $131.55 and a one year high of $208.70. The stock has a market capitalization of $2.10 trillion, a PE ratio of 21.39, a P/E/G ratio of 1.34 and a beta of 1.00. The business’s fifty day moving average price is $192.17 and its 200-day moving average price is $177.65.

Alphabet (NASDAQ:GOOG) last released 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%. On average, equities research analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.46%. Alphabet’s payout ratio is 9.94%.

Insider Activity at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 37,134 shares of the company’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total value of $6,870,532.68. Following the transaction, the director now directly owns 282,832 shares in the company, valued at $52,329,576.64. This represents a 11.61 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ruth Porat sold 17,690 shares of the company’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $183.48, for a total value of $3,245,761.20. Following the completion of the transaction, the insider now owns 1,449,286 shares in the company, valued at $265,914,995.28. This represents a 1.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 134,309 shares of company stock worth $25,057,490. 12.99% of the stock is owned by company insiders.

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.