Alphabet Inc. $GOOGL Shares Sold by Edge Financial Advisors LLC

Edge Financial Advisors LLC lowered its position in Alphabet Inc. (NASDAQ:GOOGL) by 6.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,564 shares of the information services provider’s stock after selling 99 shares during the quarter. Edge Financial Advisors LLC’s holdings in Alphabet were worth $276,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the company. MFA Wealth Services increased its stake in shares of Alphabet by 2.2% in the second quarter. MFA Wealth Services now owns 3,356 shares of the information services provider’s stock valued at $591,000 after purchasing an additional 71 shares during the period. Leo Wealth LLC increased its stake in shares of Alphabet by 14.7% in the second quarter. Leo Wealth LLC now owns 28,616 shares of the information services provider’s stock valued at $5,031,000 after purchasing an additional 3,658 shares during the period. MSH Capital Advisors LLC increased its stake in shares of Alphabet by 1.0% in the second quarter. MSH Capital Advisors LLC now owns 11,875 shares of the information services provider’s stock valued at $2,093,000 after purchasing an additional 116 shares during the period. Wealth Advisors Northwest LLC acquired a new stake in shares of Alphabet in the second quarter valued at approximately $260,000. Finally, Armstrong Fleming & Moore Inc increased its stake in shares of Alphabet by 438.6% in the second quarter. Armstrong Fleming & Moore Inc now owns 7,174 shares of the information services provider’s stock valued at $1,264,000 after purchasing an additional 5,842 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $249.50, for a total value of $8,108,750.00. Following the completion of the transaction, the chief executive officer owned 2,397,392 shares of the company’s stock, valued at approximately $598,149,304. This trade represents a 1.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider John Kent Walker sold 23,820 shares of the firm’s stock in a transaction that occurred on Monday, August 4th. The stock was 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 directly owned 42,999 shares of the company’s stock, valued at $8,371,905.30. This represents a 35.65% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 246,150 shares of company stock worth $55,805,379. 11.64% of the stock is owned by insiders.

Alphabet Trading Up 0.7%

Alphabet stock opened at $253.30 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The firm has a market cap of $3.06 trillion, a price-to-earnings ratio of 26.98, a price-to-earnings-growth ratio of 1.71 and a beta of 1.00. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $256.96. The firm’s 50 day moving average price is $231.55 and its two-hundred day moving average price is $191.85.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.16. The firm had revenue of $96.43 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%. On average, research analysts predict that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were given a $0.21 dividend. The ex-dividend date was Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.3%. Alphabet’s payout ratio is 8.95%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on GOOGL shares. Guggenheim reiterated a “buy” rating and set a $280.00 price objective (up previously from $210.00) on shares of Alphabet in a research note on Friday. Melius Research raised their price objective on shares of Alphabet from $220.00 to $255.00 in a research note on Thursday, September 25th. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Alphabet in a research note on Tuesday, October 14th. Roth Capital raised their price objective on shares of Alphabet from $210.00 to $265.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Hsbc Global Res upgraded shares of Alphabet to a “strong-buy” rating in a research note on Tuesday, October 7th. Four research analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and an average price target of $252.24.

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.