Edgestream Partners L.P. Has $2.96 Million Stock Holdings in Alphabet Inc. $GOOG

Edgestream Partners L.P. grew its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 73.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,696 shares of the information services provider’s stock after purchasing an additional 7,095 shares during the period. Edgestream Partners L.P.’s holdings in Alphabet were worth $2,962,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in shares of Alphabet by 1.3% in the second quarter. Vanguard Group Inc. now owns 416,753,033 shares of the information services provider’s stock worth $73,927,821,000 after acquiring an additional 5,182,111 shares in the last quarter. Kingstone Capital Partners Texas LLC boosted its stake in Alphabet by 580,897.4% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider’s stock worth $23,963,208,000 after purchasing an additional 135,064,454 shares during the period. Geode Capital Management LLC grew its position in Alphabet by 0.4% during the 2nd quarter. Geode Capital Management LLC now owns 107,760,033 shares of the information services provider’s stock worth $19,022,926,000 after purchasing an additional 441,177 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Alphabet by 9.9% during the 1st quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider’s stock valued at $15,971,861,000 after purchasing an additional 9,243,959 shares during the period. Finally, Sanders Capital LLC raised its stake in Alphabet by 6.4% during the 2nd quarter. Sanders Capital LLC now owns 35,357,943 shares of the information services provider’s stock valued at $6,272,146,000 after purchasing an additional 2,117,990 shares during the period. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Buying and Selling at Alphabet

In related news, Director Frances Arnold sold 102 shares of the company’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $317.66, for a total value of $32,401.32. Following the completion of the sale, the director directly owned 18,104 shares in the company, valued at approximately $5,750,916.64. This represents a 0.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 954 shares of the firm’s stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $317.00, for a total value of $302,418.00. Following the transaction, the chief accounting officer owned 11,740 shares in the company, valued at approximately $3,721,580. This trade represents a 7.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 196,406 shares of company stock worth $51,743,408 in the last 90 days. 12.99% of the stock is currently owned by company insiders.

Alphabet Stock Down 0.7%

GOOG opened at $318.39 on Friday. The company has a market capitalization of $3.84 trillion, a PE ratio of 31.40, a price-to-earnings-growth ratio of 1.86 and a beta of 1.07. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.75 and a quick ratio of 1.75. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $328.67. The business has a 50-day moving average of $275.23 and a 200-day moving average of $223.79.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Thursday, October 30th. The information services provider reported $2.87 EPS for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. The firm had revenue of $102.35 billion for the quarter, compared to the consensus estimate of $99.90 billion. Alphabet had a return on equity of 35.00% and a net margin of 32.23%.The firm’s revenue was up 15.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.12 earnings per share. Equities research analysts forecast that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be issued a dividend of $0.21 per share. The ex-dividend date is Monday, December 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is currently 8.28%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Loop Capital raised Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 18th. Cowen restated a “buy” rating on shares of Alphabet in a research report on Thursday, October 30th. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Alphabet in a research note on Wednesday. Morgan Stanley increased their price target on shares of Alphabet from $210.00 to $270.00 and gave the stock an “overweight” rating in a research report on Thursday, October 2nd. Finally, Raymond James Financial set a $275.00 price objective on shares of Alphabet and gave the company an “outperform” rating in a research report on Friday, October 24th. Seven investment analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Alphabet currently has a consensus rating of “Buy” and a consensus price target of $307.22.

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.