Edge Financial Advisors LLC Purchases New Shares in Alphabet Inc. (NASDAQ:GOOGL)

Edge Financial Advisors LLC bought a new position in shares of Alphabet Inc. (NASDAQ:GOOGL) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor bought 2,130 shares of the information services provider’s stock, valued at approximately $353,000.

A number of other large investors have also modified their holdings of GOOGL. China Universal Asset Management Co. Ltd. grew its holdings in Alphabet by 70.6% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 101,230 shares of the information services provider’s stock valued at $15,279,000 after buying an additional 41,880 shares in the last quarter. Quent Capital LLC grew its holdings in Alphabet by 3.6% in the 1st quarter. Quent Capital LLC now owns 31,171 shares of the information services provider’s stock valued at $4,705,000 after buying an additional 1,072 shares in the last quarter. Baron Silver Stevens Financial Advisors LLC grew its holdings in Alphabet by 9.5% in the 1st quarter. Baron Silver Stevens Financial Advisors LLC now owns 10,325 shares of the information services provider’s stock valued at $1,558,000 after buying an additional 898 shares in the last quarter. Magnolia Capital Advisors LLC grew its holdings in Alphabet by 12.6% in the 1st quarter. Magnolia Capital Advisors LLC now owns 20,123 shares of the information services provider’s stock valued at $3,101,000 after buying an additional 2,259 shares in the last quarter. Finally, Pacific Wealth Strategies Group Inc. grew its holdings in Alphabet by 2.6% in the 1st quarter. Pacific Wealth Strategies Group Inc. now owns 23,391 shares of the information services provider’s stock valued at $3,530,000 after buying an additional 595 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analysts Set New Price Targets

GOOGL has been the subject of several analyst reports. Guggenheim upped their target price on Alphabet from $195.00 to $205.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Royal Bank of Canada upped their target price on Alphabet from $204.00 to $210.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. China Renaissance upgraded Alphabet from a “hold” rating to a “buy” rating in a report on Thursday, October 31st. Citigroup increased their price target on Alphabet from $190.00 to $212.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Finally, Pivotal Research increased their price target on Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Seven equities research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have given a strong buy rating to the company’s stock. According to MarketBeat, Alphabet has an average rating of “Moderate Buy” and a consensus price target of $205.90.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $180.35 on Tuesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. Alphabet Inc. has a fifty-two week low of $127.90 and a fifty-two week high of $191.75. The firm has a market capitalization of $2.21 trillion, a PE ratio of 23.92, a price-to-earnings-growth ratio of 1.27 and a beta of 1.03. The stock’s 50-day simple moving average is $163.54 and its 200-day simple moving average is $169.74.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The business had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. During the same quarter last year, the company earned $1.55 EPS. As a group, equities research analysts forecast that Alphabet Inc. will post 7.99 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.44%. Alphabet’s dividend payout ratio is presently 10.61%.

Insider Buying and Selling

In related news, Director Kavitark Ram Shriram sold 10,500 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $177.41, for a total transaction of $1,862,805.00. Following the transaction, the director now owns 319,966 shares in the company, valued at $56,765,168.06. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Kavitark Ram Shriram sold 10,500 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $177.41, for a total transaction of $1,862,805.00. Following the completion of the sale, the director now owns 319,966 shares in the company, valued at $56,765,168.06. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $177.36, for a total transaction of $3,990,600.00. Following the completion of the transaction, the chief executive officer now owns 2,084,306 shares in the company, valued at approximately $369,672,512.16. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 241,752 shares of company stock worth $40,156,829 in the last quarter. 11.55% of the stock is owned by insiders.

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.