EdgeRock Capital LLC Has $1.24 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

EdgeRock Capital LLC lifted its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 10.0% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 7,983 shares of the information services provider’s stock after purchasing an additional 725 shares during the quarter. Alphabet comprises 0.9% of EdgeRock Capital LLC’s holdings, making the stock its 20th biggest position. EdgeRock Capital LLC’s holdings in Alphabet were worth $1,235,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Macroview Investment Management LLC raised its stake in Alphabet by 4.2% in the 4th quarter. Macroview Investment Management LLC now owns 1,293 shares of the information services provider’s stock valued at $245,000 after acquiring an additional 52 shares during the period. Cornerstone Planning Group LLC raised its stake in Alphabet by 2.3% in the 4th quarter. Cornerstone Planning Group LLC now owns 2,381 shares of the information services provider’s stock valued at $457,000 after acquiring an additional 53 shares during the period. Addison Advisors LLC raised its stake in Alphabet by 0.7% in the 4th quarter. Addison Advisors LLC now owns 7,527 shares of the information services provider’s stock valued at $1,425,000 after acquiring an additional 53 shares during the period. Burt Wealth Advisors raised its stake in Alphabet by 1.0% in the 4th quarter. Burt Wealth Advisors now owns 5,307 shares of the information services provider’s stock valued at $1,005,000 after acquiring an additional 54 shares during the period. Finally, Perritt Capital Management Inc raised its stake in Alphabet by 10.4% in the 4th quarter. Perritt Capital Management Inc now owns 618 shares of the information services provider’s stock valued at $117,000 after acquiring an additional 58 shares during the period. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $189.00 price objective on shares of Alphabet in a report on Wednesday, May 21st. Susquehanna decreased their price objective on Alphabet from $225.00 to $220.00 and set a “positive” rating on the stock in a report on Friday, April 25th. Tigress Financial upped their price objective on Alphabet from $220.00 to $240.00 and gave the company a “strong-buy” rating in a report on Wednesday, April 30th. Roth Mkm reaffirmed a “buy” rating and issued a $220.00 price objective on shares of Alphabet in a report on Wednesday, March 19th. Finally, Citigroup upped their price objective on Alphabet from $195.00 to $200.00 and gave the company a “buy” rating in a report on Friday, April 25th. Ten investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus target price of $199.75.

Alphabet Trading Down 0.7%

NASDAQ GOOGL opened at $177.35 on Thursday. The business has a 50 day simple moving average of $161.71 and a 200 day simple moving average of $174.51. Alphabet Inc. has a one year low of $140.53 and a one year high of $207.05. The stock has a market capitalization of $2.15 trillion, a P/E ratio of 22.03, a P/E/G ratio of 1.34 and a beta of 1.01. 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 (NASDAQ:GOOGL) last released its earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping the consensus estimate of $2.02 by $0.79. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The business had revenue of $76.49 billion during the quarter, compared to analysts’ expectations of $89.30 billion. During the same quarter last year, the firm posted $1.89 earnings per share. Research analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be paid a dividend of $0.21 per share. The ex-dividend date is Monday, June 9th. This represents a $0.84 annualized dividend and a yield of 0.47%. This is a boost from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s dividend payout ratio (DPR) is currently 9.36%.

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $168.71, for a total value of $5,483,075.00. Following the completion of the sale, the chief executive officer now owns 2,587,696 shares of the company’s stock, valued at approximately $436,570,192.16. This trade represents a 1.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 673 shares of the firm’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $155.33, for a total value of $104,537.09. Following the completion of the sale, the chief accounting officer now directly owns 15,303 shares of the company’s stock, valued at $2,377,014.99. This trade represents a 4.21% decrease in their position. The disclosure for this sale can be found here. Insiders sold 195,570 shares of company stock valued at $32,003,532 over the last 90 days. Company insiders own 11.64% of the company’s stock.

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.