Alphabet Inc. (NASDAQ:GOOGL) Shares Bought by NewEdge Wealth LLC

NewEdge Wealth LLC raised its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 2.1% in the first quarter, Holdings Channel reports. The fund owned 747,386 shares of the information services provider’s stock after buying an additional 15,326 shares during the period. Alphabet accounts for approximately 2.1% of NewEdge Wealth LLC’s investment portfolio, making the stock its 5th largest holding. NewEdge Wealth LLC’s holdings in Alphabet were worth $115,576,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Mystic Asset Management Inc. increased its holdings in shares of Alphabet by 6.7% during the 1st quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider’s stock worth $4,400,000 after buying an additional 1,791 shares during the last quarter. Harbour Trust & Investment Management Co increased its holdings in shares of Alphabet by 0.3% during the 1st quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider’s stock worth $4,187,000 after buying an additional 80 shares during the last quarter. Rockbridge Capital Management LLC acquired a new stake in shares of Alphabet during the 4th quarter worth approximately $3,119,000. Cypress Capital LLC increased its holdings in shares of Alphabet by 4.1% during the 1st quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider’s stock worth $2,213,000 after buying an additional 563 shares during the last quarter. Finally, Optivise Advisory Services LLC increased its holdings in shares of Alphabet by 8.0% during the 4th quarter. Optivise Advisory Services LLC now owns 5,464 shares of the information services provider’s stock worth $1,035,000 after buying an additional 403 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total value of $5,801,900.00. Following the transaction, the chief executive officer directly owned 2,559,892 shares in the company, valued at approximately $456,991,919.84. The trade was a 1.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider John Kent Walker sold 23,820 shares of Alphabet stock in a transaction on Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the transaction, the insider owned 42,999 shares in the company, valued at approximately $8,371,905.30. This represents a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 273,219 shares of company stock worth $49,474,273. 11.55% of the stock is owned by company insiders.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $201.42 on Monday. The company’s fifty day moving average price is $180.89 and its 200 day moving average price is $172.80. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $207.05. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The firm has a market capitalization of $2.44 trillion, a P/E ratio of 21.45, a P/E/G ratio of 1.36 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating analysts’ consensus estimates of $2.15 by $0.16. The company had revenue of $96,428,000 billion for the quarter, compared to analyst estimates of $93.60 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. As a group, sell-side analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be paid a $0.21 dividend. The ex-dividend date is Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.4%. Alphabet’s payout ratio is currently 8.95%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on GOOGL shares. Tigress Financial raised their price target on shares of Alphabet from $220.00 to $240.00 and gave the stock a “strong-buy” rating in a report on Wednesday, April 30th. Royal Bank Of Canada increased their price objective on shares of Alphabet from $200.00 to $220.00 and gave the stock an “outperform” rating in a research report on Thursday, July 24th. Barclays increased their price objective on shares of Alphabet from $220.00 to $235.00 and gave the stock an “overweight” rating in a research report on Thursday, July 24th. Citizens Jmp raised shares of Alphabet from a “market perform” rating to an “outperform” rating and set a $220.00 price objective for the company in a research report on Friday, June 27th. Finally, Rosenblatt Securities increased their price objective on shares of Alphabet from $189.00 to $191.00 and gave the stock a “neutral” rating in a research report on Thursday, July 24th. Ten analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $211.53.

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.