EdgeRock Capital LLC Increases Position in Alphabet Inc. (NASDAQ:GOOGL)

EdgeRock Capital LLC boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 7.5% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 6,399 shares of the information services provider’s stock after buying an additional 444 shares during the period. Alphabet comprises 0.7% of EdgeRock Capital LLC’s holdings, making the stock its 19th biggest position. EdgeRock Capital LLC’s holdings in Alphabet were worth $1,061,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. SG Americas Securities LLC lifted its holdings in Alphabet by 587.4% during the 3rd quarter. SG Americas Securities LLC now owns 10,690,326 shares of the information services provider’s stock valued at $1,772,991,000 after buying an additional 9,135,056 shares in the last quarter. Capital Research Global Investors grew its position in Alphabet by 14.4% during the 1st quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock worth $8,724,251,000 after purchasing an additional 7,275,757 shares during the last quarter. Wulff Hansen & CO. grew its position in Alphabet by 18,810.2% during the 2nd quarter. Wulff Hansen & CO. now owns 4,434,260 shares of the information services provider’s stock worth $807,700,000 after purchasing an additional 4,410,811 shares during the last quarter. PineStone Asset Management Inc. grew its position in Alphabet by 143.7% during the 2nd quarter. PineStone Asset Management Inc. now owns 7,072,197 shares of the information services provider’s stock worth $1,288,201,000 after purchasing an additional 4,170,229 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in Alphabet by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 497,874,324 shares of the information services provider’s stock worth $75,144,172,000 after purchasing an additional 4,064,073 shares during the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CAO Amie Thuener O’toole sold 1,367 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $168.84, for a total transaction of $230,804.28. Following the transaction, the chief accounting officer now directly owns 29,183 shares in the company, valued at $4,927,257.72. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the transaction, the chief executive officer now directly owns 2,182,385 shares of the company’s stock, valued at $354,310,204.75. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 1,367 shares of the stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $168.84, for a total value of $230,804.28. Following the completion of the transaction, the chief accounting officer now owns 29,183 shares of the company’s stock, valued at $4,927,257.72. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 220,426 shares of company stock worth $35,993,340. 11.55% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages have commented on GOOGL. Scotiabank upgraded shares of Alphabet to a “strong-buy” rating in a research note on Friday, October 11th. Argus upped their price objective on shares of Alphabet from $200.00 to $215.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Pivotal Research raised shares of Alphabet to a “strong-buy” rating in a report on Tuesday, October 1st. Rosenblatt Securities reissued a “neutral” rating and issued a $181.00 price objective on shares of Alphabet in a report on Wednesday, July 24th. Finally, Jefferies Financial Group upped their price objective on shares of Alphabet from $215.00 to $220.00 in a report on Tuesday, July 9th. Eight research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $201.76.

Alphabet Stock Down 0.0 %

GOOGL opened at $162.72 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. Alphabet Inc. has a 1 year low of $120.21 and a 1 year high of $191.75. The firm has a 50 day moving average price of $161.87 and a 200 day moving average price of $168.40. The company has a market cap of $2.01 trillion, a PE ratio of 24.96, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.85 by $0.04. The company had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $70.60 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. During the same period in the prior year, the business posted $1.44 EPS. Sell-side analysts expect that Alphabet Inc. will post 7.64 earnings per share for the current year.

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.