Alphabet Inc. (NASDAQ:GOOG) Shares Bought by Edge Capital Group LLC

Edge Capital Group LLC grew its position in Alphabet Inc. (NASDAQ:GOOG) by 3.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 48,411 shares of the information services provider’s stock after acquiring an additional 1,572 shares during the period. Edge Capital Group LLC’s holdings in Alphabet were worth $9,219,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Weiss Asset Management LP acquired a new position in Alphabet in the 3rd quarter worth about $25,000. Fiduciary Advisors Inc. purchased a new stake in shares of Alphabet in the fourth quarter valued at approximately $27,000. Safe Harbor Fiduciary LLC acquired a new position in shares of Alphabet during the 3rd quarter worth approximately $33,000. Sanctuary Wealth Management L.L.C. lifted its position in shares of Alphabet by 87.3% during the 3rd quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock valued at $42,000 after buying an additional 117 shares in the last quarter. Finally, FPC Investment Advisory Inc. grew its stake in Alphabet by 287.9% in the 4th quarter. FPC Investment Advisory Inc. now owns 225 shares of the information services provider’s stock valued at $46,000 after acquiring an additional 167 shares during the period. 27.26% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on GOOG shares. Citizens Jmp cut shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. Wedbush restated an “outperform” rating and set a $220.00 price target on shares of Alphabet in a research report on Thursday, January 30th. Scotiabank lifted their price objective on Alphabet from $212.00 to $240.00 and gave the stock a “sector outperform” rating in a report on Friday, January 24th. The Goldman Sachs Group reiterated a “buy” rating on shares of Alphabet in a research note on Wednesday, February 5th. Finally, Benchmark restated a “negative” rating on shares of Alphabet in a research report on Wednesday, February 5th. One 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 given a strong buy rating to the company. Based on data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and an average target price of $209.13.

Alphabet Trading Down 2.6 %

Shares of GOOG opened at $170.21 on Friday. Alphabet Inc. has a 12-month low of $131.55 and a 12-month high of $208.70. The firm has a market capitalization of $2.07 trillion, a P/E ratio of 21.14, a P/E/G ratio of 1.34 and a beta of 1.00. The firm has a 50-day moving average price of $192.59 and a 200 day moving average price of $177.59. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03.

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

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders 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 annualized dividend and a yield of 0.47%. Alphabet’s dividend payout ratio (DPR) is 9.94%.

Insider Buying and Selling at Alphabet

In related news, insider Ruth Porat sold 17,690 shares of the firm’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $183.48, for a total transaction of $3,245,761.20. Following the completion of the sale, the insider now directly owns 1,449,286 shares of the company’s stock, valued at approximately $265,914,995.28. This trade represents a 1.21 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 1,340 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $202.08, for a total transaction of $270,787.20. Following the completion of the transaction, the chief accounting officer now directly owns 17,848 shares in the company, valued at $3,606,723.84. The trade was a 6.98 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 134,188 shares of company stock worth $25,036,883 over the last quarter. 12.99% of the stock is currently 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.