Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Edge Capital Group LLC

Edge Capital Group LLC lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 4.0% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 33,236 shares of the information services provider’s stock after selling 1,375 shares during the quarter. Edge Capital Group LLC’s holdings in Alphabet were worth $3,978,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Alphabet by 1,919.4% in the third quarter. Vanguard Group Inc. now owns 477,035,902 shares of the information services provider’s stock valued at $45,628,484,000 after acquiring an additional 453,413,389 shares in the last quarter. State Street Corp grew its position in Alphabet by 1,900.6% in the third quarter. State Street Corp now owns 217,154,306 shares of the information services provider’s stock valued at $20,770,809,000 after acquiring an additional 206,300,042 shares in the last quarter. Moneta Group Investment Advisors LLC boosted its stake in shares of Alphabet by 111,197.8% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 170,420,243 shares of the information services provider’s stock valued at $15,036,178,000 after buying an additional 170,267,122 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Alphabet by 1.3% during the 1st quarter. Geode Capital Management LLC now owns 118,576,618 shares of the information services provider’s stock valued at $12,271,705,000 after buying an additional 1,499,107 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Alphabet by 1,759.2% during the 3rd quarter. Price T Rowe Associates Inc. MD now owns 116,116,066 shares of the information services provider’s stock valued at $11,106,502,000 after buying an additional 109,870,525 shares during the last quarter. Institutional investors and hedge funds own 35.08% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on GOOGL. Bank of America increased their target price on Alphabet from $142.00 to $146.00 and gave the company a “buy” rating in a research note on Wednesday, October 4th. StockNews.com cut Alphabet from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 14th. Mizuho increased their target price on Alphabet from $135.00 to $155.00 in a research note on Wednesday, July 26th. Rosenblatt Securities increased their target price on Alphabet from $163.00 to $174.00 and gave the company a “buy” rating in a research note on Wednesday, October 25th. Finally, Susquehanna restated a “positive” rating and set a $150.00 price objective on shares of Alphabet in a research note on Thursday, August 31st. Five investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $147.00.

Alphabet Trading Down 1.2 %

Shares of GOOGL opened at $135.31 on Monday. The business’s 50-day moving average price is $133.44 and its 200 day moving average price is $127.65. The stock has a market capitalization of $1.69 trillion, a P/E ratio of 25.97, a P/E/G ratio of 1.51 and a beta of 1.05. Alphabet Inc. has a 1-year low of $84.86 and a 1-year high of $141.22. The company has a current ratio of 2.04, a quick ratio of 2.01 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Tuesday, October 24th. The information services provider reported $1.55 earnings per share for the quarter, topping analysts’ consensus estimates of $1.45 by $0.10. The firm had revenue of $64.05 billion for the quarter, compared to analysts’ expectations of $63.13 billion. Alphabet had a return on equity of 25.24% and a net margin of 22.46%. Analysts expect that Alphabet Inc. will post 5.74 earnings per share for the current year.

Insider Buying and Selling

In other Alphabet news, Director Ann Mather sold 220 shares of the firm’s stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $130.14, for a total transaction of $28,630.80. Following the completion of the sale, the director now directly owns 4,818 shares in the company, valued at approximately $627,014.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Alphabet news, SVP Prabhakar Raghavan sold 16,083 shares of the firm’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $133.82, for a total transaction of $2,152,227.06. Following the completion of the sale, the senior vice president now directly owns 75,621 shares in the company, valued at approximately $10,119,602.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ann Mather sold 220 shares of Alphabet stock in a transaction dated Friday, August 25th. The shares were sold at an average price of $130.14, for a total value of $28,630.80. Following the sale, the director now owns 4,818 shares of the company’s stock, valued at $627,014.52. The disclosure for this sale can be found here. In the last quarter, insiders have sold 176,576 shares of company stock valued at $23,425,367. 0.88% of the stock is owned by corporate insiders.

About Alphabet

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, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.