EdgeRock Capital LLC Has $511,000 Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

EdgeRock Capital LLC reduced its stake in Alphabet Inc. (NASDAQ:GOOG) by 10.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,272 shares of the information services provider’s stock after selling 396 shares during the quarter. EdgeRock Capital LLC’s holdings in Alphabet were worth $511,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Alphabet during the 4th quarter worth $5,166,070,000. GAMMA Investing LLC lifted its holdings in shares of Alphabet by 18,562.3% in the first quarter. GAMMA Investing LLC now owns 14,323,323 shares of the information services provider’s stock worth $2,237,733,000 after acquiring an additional 14,246,573 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Alphabet in the 4th quarter valued at approximately $1,551,533,000. Northern Trust Corp grew its holdings in shares of Alphabet by 16.1% during the 4th quarter. Northern Trust Corp now owns 57,098,042 shares of the information services provider’s stock valued at $10,873,751,000 after purchasing an additional 7,917,625 shares during the last quarter. Finally, GQG Partners LLC grew its holdings in shares of Alphabet by 181,679.1% during the 4th quarter. GQG Partners LLC now owns 7,225,721 shares of the information services provider’s stock valued at $1,376,066,000 after purchasing an additional 7,221,746 shares during the last quarter. 27.26% of the stock is owned by institutional investors.

Alphabet Stock Up 1.3%

GOOG opened at $180.01 on Wednesday. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $208.70. The company has a market cap of $2.18 trillion, a PE ratio of 22.36, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The company has a 50 day moving average of $162.80 and a 200 day moving average of $176.20.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping analysts’ consensus estimates of $2.02 by $0.79. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The firm had revenue of $90.23 billion during the quarter, compared to analyst estimates of $89.30 billion. During the same period last year, the company earned $1.89 earnings per share. The business’s revenue for the quarter was up 12.0% on a year-over-year basis. On average, sell-side analysts expect that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be given a $0.21 dividend. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date of this dividend is Monday, June 9th. Alphabet’s dividend payout ratio (DPR) is 9.36%.

Insider Activity

In other news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $168.71, for a total transaction of $5,483,075.00. Following the completion of the sale, the chief executive officer now directly owns 2,587,696 shares of the company’s stock, valued at approximately $436,570,192.16. The trade was a 1.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider John Kent Walker sold 11,764 shares of Alphabet stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $166.84, for a total transaction of $1,962,705.76. Following the sale, the insider now directly owns 49,037 shares of the company’s stock, valued at $8,181,333.08. This represents a 19.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 195,770 shares of company stock worth $32,036,638. 12.99% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

GOOG has been the topic of a number of recent research reports. Westpark Capital reissued a “buy” rating and set a $210.00 price target on shares of Alphabet in a research note on Friday, April 25th. Scotiabank dropped their price target on shares of Alphabet from $232.00 to $200.00 and set a “sector outperform” rating for the company in a research note on Monday, April 21st. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $171.00 target price on shares of Alphabet in a report on Friday, April 25th. UBS Group lowered their price objective on Alphabet from $209.00 to $173.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. Finally, Tigress Financial reissued a “strong-buy” rating on shares of Alphabet in a research note on Friday, May 2nd. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating, fourteen have assigned a buy rating and five have given a strong buy rating to the company. According to MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and an average target price of $204.88.

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.