Edge Capital Group LLC Sells 1,375 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Edge Capital Group LLC reduced its position in Alphabet Inc. (NASDAQ:GOOGL) by 4.0% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 33,236 shares of the information services provider’s stock after selling 1,375 shares during the period. Edge Capital Group LLC’s holdings in Alphabet were worth $3,978,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of GOOGL. Modera Wealth Management LLC raised its position in Alphabet by 11.4% during the 1st quarter. Modera Wealth Management LLC now owns 43,230 shares of the information services provider’s stock worth $4,484,000 after buying an additional 4,420 shares during the last quarter. Atria Investments Inc raised its position in Alphabet by 7.4% during the 1st quarter. Atria Investments Inc now owns 316,800 shares of the information services provider’s stock worth $32,918,000 after buying an additional 21,907 shares during the last quarter. Cadent Capital Advisors LLC raised its position in Alphabet by 3.4% during the 2nd quarter. Cadent Capital Advisors LLC now owns 4,158 shares of the information services provider’s stock worth $498,000 after buying an additional 136 shares during the last quarter. Hallmark Capital Management Inc. raised its position in Alphabet by 8.9% during the 1st quarter. Hallmark Capital Management Inc. now owns 167,148 shares of the information services provider’s stock worth $17,338,000 after buying an additional 13,605 shares during the last quarter. Finally, Soltis Investment Advisors LLC raised its position in Alphabet by 17.1% during the 1st quarter. Soltis Investment Advisors LLC now owns 46,675 shares of the information services provider’s stock worth $4,842,000 after buying an additional 6,825 shares during the last quarter. 35.08% of the stock is currently owned by institutional investors.

Alphabet Stock Down 1.2 %

Shares of GOOGL opened at $135.31 on Monday. The firm has a market cap of $1.69 trillion, a P/E ratio of 25.97, a price-to-earnings-growth ratio of 1.51 and a beta of 1.05. Alphabet Inc. has a 12-month low of $84.86 and a 12-month high of $141.22. The company’s 50-day moving average price is $133.44 and its 200 day moving average price is $127.65. The company has a current ratio of 2.04, a quick ratio of 2.01 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Tuesday, October 24th. The information services provider reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $0.10. The firm had revenue of $64.05 billion for the quarter, compared to analyst estimates of $63.13 billion. Alphabet had a net margin of 22.46% and a return on equity of 25.24%. On average, sell-side analysts forecast that Alphabet Inc. will post 5.74 earnings per share for the current year.

Insider Activity at Alphabet

In other Alphabet news, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $137.30, for a total transaction of $27,460.00. Following the sale, the director now directly owns 7,584 shares in the company, valued at $1,041,283.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Alphabet news, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $137.30, for a total transaction of $27,460.00. Following the sale, the director now directly owns 7,584 shares in the company, valued at $1,041,283.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ann Mather sold 220 shares of the business’s stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $130.14, for a total transaction of $28,630.80. Following the sale, the director now owns 4,818 shares in the company, valued at $627,014.52. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 176,576 shares of company stock worth $23,425,367. Company insiders own 0.88% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on GOOGL. Roth Mkm raised their price target on shares of Alphabet from $146.00 to $152.00 and gave the stock a “buy” rating in a research report on Wednesday, October 25th. Mizuho lifted their target price on shares of Alphabet from $135.00 to $155.00 in a report on Wednesday, July 26th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $155.00 target price on shares of Alphabet in a report on Wednesday, October 25th. Truist Financial lifted their target price on shares of Alphabet from $122.00 to $160.00 in a report on Wednesday, July 26th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Alphabet from $121.00 to $150.00 in a report on Wednesday, July 26th. Five analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and an average target price of $147.00.

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