Alphabet Inc. $GOOGL Shares Bought by NewEdge Advisors LLC

NewEdge Advisors LLC grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 494,891 shares of the information services provider’s stock after purchasing an additional 12,791 shares during the period. NewEdge Advisors LLC’s holdings in Alphabet were worth $76,530,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of GOOGL. Nia Impact Advisors LLC raised its stake in Alphabet by 0.3% in the 4th quarter. Nia Impact Advisors LLC now owns 17,161 shares of the information services provider’s stock valued at $3,249,000 after acquiring an additional 59 shares during the period. Enzi Wealth raised its stake in Alphabet by 2.5% in the 1st quarter. Enzi Wealth now owns 2,561 shares of the information services provider’s stock valued at $408,000 after acquiring an additional 62 shares during the period. Whipplewood Advisors LLC raised its stake in Alphabet by 1.2% in the 1st quarter. Whipplewood Advisors LLC now owns 5,438 shares of the information services provider’s stock valued at $817,000 after acquiring an additional 67 shares during the period. Aspire Capital Advisors LLC raised its stake in Alphabet by 1.0% in the 1st quarter. Aspire Capital Advisors LLC now owns 7,020 shares of the information services provider’s stock valued at $1,086,000 after acquiring an additional 67 shares during the period. Finally, Rainey & Randall Wealth Advisors Inc. raised its stake in Alphabet by 2.1% in the 1st quarter. Rainey & Randall Wealth Advisors Inc. now owns 3,209 shares of the information services provider’s stock valued at $496,000 after acquiring an additional 67 shares during the period. 40.03% of the stock is owned by institutional investors and hedge funds.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $232.30 on Friday. The stock’s 50-day simple moving average is $194.66 and its 200 day simple moving average is $175.13. The firm has a market capitalization of $2.81 trillion, a PE ratio of 24.74, a price-to-earnings-growth ratio of 1.55 and a beta of 1.01. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $232.37.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.16. The business had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. On average, analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.4%. Alphabet’s dividend payout ratio (DPR) is 8.95%.

Insiders Place Their Bets

In related news, Director John L. Hennessy sold 600 shares of the company’s stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $203.79, for a total value of $122,274.00. Following the sale, the director directly owned 6,316 shares in the company, valued at $1,287,137.64. This represents a 8.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider John Kent Walker sold 23,820 shares of the firm’s stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the transaction, the insider owned 42,999 shares of the company’s stock, valued at approximately $8,371,905.30. The trade was a 35.65% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 222,210 shares of company stock valued at $41,742,155. 11.64% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on GOOGL shares. Loop Capital reiterated a “hold” rating and set a $190.00 price objective (up previously from $165.00) on shares of Alphabet in a research report on Tuesday, August 5th. Sanford C. Bernstein increased their price objective on Alphabet from $185.00 to $195.00 and gave the stock a “market perform” rating in a research report on Tuesday, July 22nd. Westpark Capital increased their price objective on Alphabet from $210.00 to $220.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. Guggenheim increased their price objective on Alphabet from $190.00 to $210.00 and gave the stock a “buy” rating in a research report on Wednesday, July 23rd. Finally, Roth Capital raised their price target on Alphabet from $205.00 to $210.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and an average target price of $221.31.

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.