EdgeRock Capital LLC Purchases 1,175 Shares of Alphabet Inc. (NASDAQ:GOOGL)

EdgeRock Capital LLC boosted its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 24.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,955 shares of the information services provider’s stock after purchasing an additional 1,175 shares during the period. Alphabet comprises 0.8% of EdgeRock Capital LLC’s holdings, making the stock its 14th biggest holding. EdgeRock Capital LLC’s holdings in Alphabet were worth $1,085,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vermillion & White Wealth Management Group LLC purchased a new stake in shares of Alphabet during the fourth quarter valued at $30,000. Tributary Capital Management LLC bought a new stake in Alphabet during the 1st quarter valued at about $30,000. DiNuzzo Private Wealth Inc. bought a new stake in Alphabet during the 4th quarter valued at about $38,000. CarsonAllaria Wealth Management Ltd. grew its stake in Alphabet by 59.2% in the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock worth $44,000 after acquiring an additional 109 shares in the last quarter. Finally, Richardson Capital Management LLC increased its position in shares of Alphabet by 87.5% during the first quarter. Richardson Capital Management LLC now owns 300 shares of the information services provider’s stock worth $45,000 after acquiring an additional 140 shares during the period. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Performance

NASDAQ GOOGL opened at $163.38 on Friday. The stock has a market capitalization of $2.02 trillion, a price-to-earnings ratio of 25.06, a PEG ratio of 1.28 and a beta of 1.05. Alphabet Inc. has a twelve month low of $120.21 and a twelve month high of $191.75. The stock has a 50-day moving average of $173.44 and a 200 day moving average of $163.65. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The company had revenue of $84.74 billion during the quarter, compared to analyst estimates of $70.60 billion. During the same quarter in the previous year, the firm earned $1.44 EPS. Sell-side analysts anticipate that Alphabet Inc. will post 7.62 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 9th will be issued a dividend of $0.20 per share. The ex-dividend date is Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.49%. Alphabet’s payout ratio is currently 12.27%.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of several research reports. Wells Fargo & Company raised their price objective on Alphabet from $187.00 to $190.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 24th. Needham & Company LLC reaffirmed a “buy” rating and issued a $210.00 price target on shares of Alphabet in a research report on Friday. JPMorgan Chase & Co. lifted their price objective on shares of Alphabet from $200.00 to $208.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Roth Mkm restated a “buy” rating and set a $206.00 target price on shares of Alphabet in a report on Thursday. Finally, Bank of America increased their target price on Alphabet from $200.00 to $206.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Six equities research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $203.74.

Insider Transactions at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $173.86, for a total value of $118,572.52. Following the transaction, the chief accounting officer now owns 29,966 shares in the company, valued at approximately $5,209,888.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $176.58, for a total transaction of $3,973,050.00. Following the transaction, the chief executive officer now directly owns 2,235,511 shares in the company, valued at $394,746,532.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $173.86, for a total transaction of $118,572.52. Following the completion of the sale, the chief accounting officer now owns 29,966 shares of the company’s stock, valued at approximately $5,209,888.76. The disclosure for this sale can be found here. Insiders have sold 156,565 shares of company stock valued at $26,823,893 over the last ninety days. Insiders own 11.55% of the company’s stock.

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.