Park Edge Advisors LLC Acquires 1,438 Shares of Alphabet Inc. $GOOG

Park Edge Advisors LLC lifted its holdings in Alphabet Inc. (NASDAQ:GOOG) by 20.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,580 shares of the information services provider’s stock after purchasing an additional 1,438 shares during the quarter. Park Edge Advisors LLC’s holdings in Alphabet were worth $1,522,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Principia Wealth Advisory LLC lifted its position in shares of Alphabet by 111.8% in the first quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider’s stock worth $26,000 after purchasing an additional 85 shares in the last quarter. MorganRosel Wealth Management LLC bought a new stake in shares of Alphabet in the first quarter worth $26,000. Greykasell Wealth Strategies Inc. bought a new stake in shares of Alphabet in the first quarter worth $32,000. Goodman Advisory Group LLC bought a new stake in shares of Alphabet in the first quarter worth $32,000. Finally, Elevate Wealth Advisory Inc. bought a new stake in shares of Alphabet in the first quarter worth $34,000. Institutional investors own 27.26% of the company’s stock.

Insider Activity at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $199.92, for a total value of $6,497,400.00. Following the transaction, the chief executive officer directly owned 2,462,392 shares in the company, valued at $492,281,408.64. The trade was a 1.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kavitark Ram Shriram sold 18,566 shares of the company’s stock in a transaction on Friday, July 18th. The shares were sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the completion of the transaction, the director owned 243,400 shares in the company, valued at approximately $45,213,984. This represents a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 254,710 shares of company stock valued at $49,208,380 in the last ninety days. Company insiders own 12.99% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on GOOG shares. UBS Group boosted their price objective on shares of Alphabet from $186.00 to $192.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 16th. Cowen restated a “buy” rating on shares of Alphabet in a report on Wednesday, July 9th. BNP Paribas downgraded shares of Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, June 26th. Barclays restated a “buy” rating on shares of Alphabet in a report on Wednesday, July 9th. Finally, The Goldman Sachs Group restated a “buy” rating and set a $220.00 target price on shares of Alphabet in a report on Monday, June 2nd. Four research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $227.56.

Alphabet Price Performance

Shares of GOOG opened at $241.38 on Friday. The company has a market cap of $2.92 trillion, a price-to-earnings ratio of 25.71, a PEG ratio of 1.62 and a beta of 1.01. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $242.57. The company’s fifty day simple moving average is $202.67 and its 200 day simple moving average is $178.86. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating the consensus estimate of $2.12 by $0.19. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The firm had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.67 billion. During the same period in the previous year, the company earned $1.89 earnings per share. The company’s quarterly revenue was up 13.8% on a year-over-year basis. On average, research analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Monday, September 8th. Alphabet’s payout ratio is currently 8.95%.

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