Atlantic Edge Private Wealth Management LLC Sells 68 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Atlantic Edge Private Wealth Management LLC decreased its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 22,286 shares of the information services provider’s stock after selling 68 shares during the period. Alphabet accounts for about 1.4% of Atlantic Edge Private Wealth Management LLC’s investment portfolio, making the stock its 17th largest position. Atlantic Edge Private Wealth Management LLC’s holdings in Alphabet were worth $4,059,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in GOOGL. GUNN & Co INVESTMENT MANAGEMENT INC. purchased a new stake in shares of Alphabet during the fourth quarter worth about $1,328,000. Orca Investment Management LLC grew its holdings in Alphabet by 6.6% during the 4th quarter. Orca Investment Management LLC now owns 19,273 shares of the information services provider’s stock valued at $2,692,000 after buying an additional 1,187 shares in the last quarter. Adell Harriman & Carpenter Inc. raised its position in shares of Alphabet by 2.4% during the fourth quarter. Adell Harriman & Carpenter Inc. now owns 133,437 shares of the information services provider’s stock valued at $18,640,000 after buying an additional 3,083 shares during the last quarter. Steele Capital Management Inc. purchased a new position in shares of Alphabet in the fourth quarter worth $416,000. Finally, LWM Advisory Services LLC boosted its position in shares of Alphabet by 5.2% during the fourth quarter. LWM Advisory Services LLC now owns 4,008 shares of the information services provider’s stock worth $560,000 after acquiring an additional 197 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Stock Performance

Shares of Alphabet stock opened at $156.45 on Thursday. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. The stock’s fifty day moving average price is $172.04 and its 200-day moving average price is $164.11. The firm has a market cap of $1.93 trillion, a P/E ratio of 24.00, a P/E/G ratio of 1.22 and a beta of 1.05. Alphabet Inc. has a 12 month low of $120.21 and a 12 month high of $191.75.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The business had revenue of $84.74 billion for the quarter, compared to the consensus estimate of $70.60 billion. During the same quarter last year, the firm posted $1.44 EPS. On average, equities research analysts expect that Alphabet Inc. will post 7.63 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business 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 of this dividend is Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.51%. Alphabet’s dividend payout ratio is currently 12.27%.

Insider Buying and Selling at Alphabet

In other news, Director John L. Hennessy sold 1,500 shares of the business’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $177.92, for a total value of $266,880.00. Following the completion of the transaction, the director now directly owns 3,727 shares of the company’s stock, valued at approximately $663,107.84. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Alphabet news, Director John L. Hennessy sold 1,500 shares of the business’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $177.92, for a total value of $266,880.00. Following the completion of the transaction, the director now directly owns 3,727 shares in the company, valued at $663,107.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $177.40, for a total transaction of $3,991,500.00. Following the sale, the chief executive officer now directly owns 2,213,011 shares of the company’s stock, valued at $392,588,151.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 134,065 shares of company stock valued at $22,841,690. 11.55% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on GOOGL. UBS Group lifted their price target on shares of Alphabet from $200.00 to $204.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. BMO Capital Markets reiterated an “outperform” rating and issued a $222.00 target price on shares of Alphabet in a research report on Tuesday, August 6th. Stifel Nicolaus restated a “buy” rating and set a $196.00 price target on shares of Alphabet in a report on Wednesday, May 15th. Wells Fargo & Company upped 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. Finally, Jefferies Financial Group boosted their price target on shares of Alphabet from $215.00 to $220.00 in a research report on Tuesday, July 9th. Six analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and an average target price of $203.17.

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.