Alphabet Inc. (NASDAQ:GOOG) is Edgemoor Investment Advisors Inc.’s 6th Largest Position

Edgemoor Investment Advisors Inc. decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 3.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 232,395 shares of the information services provider’s stock after selling 7,312 shares during the quarter. Alphabet accounts for approximately 3.9% of Edgemoor Investment Advisors Inc.’s portfolio, making the stock its 6th largest position. Edgemoor Investment Advisors Inc.’s holdings in Alphabet were worth $44,257,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. GPS Wealth Strategies Group LLC lifted its position in Alphabet by 6.8% in the 4th quarter. GPS Wealth Strategies Group LLC now owns 16,248 shares of the information services provider’s stock worth $3,094,000 after buying an additional 1,041 shares during the last quarter. Coldstream Capital Management Inc. lifted its position in Alphabet by 14.4% in the 3rd quarter. Coldstream Capital Management Inc. now owns 116,776 shares of the information services provider’s stock worth $19,642,000 after buying an additional 14,738 shares during the last quarter. Requisite Capital Management LLC bought a new stake in Alphabet in the 4th quarter worth approximately $927,000. Stevens Capital Management LP lifted its position in Alphabet by 172.9% in the 3rd quarter. Stevens Capital Management LP now owns 91,237 shares of the information services provider’s stock worth $15,254,000 after buying an additional 57,810 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC lifted its position in Alphabet by 44.2% in the 3rd quarter. Worldquant Millennium Advisors LLC now owns 1,032,476 shares of the information services provider’s stock worth $172,620,000 after buying an additional 316,674 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Activity

In related news, insider John Kent Walker sold 16,820 shares of Alphabet stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $192.62, for a total value of $3,239,868.40. Following the completion of the sale, the insider now directly owns 43,981 shares in the company, valued at approximately $8,471,620.22. This trade represents a 27.66 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $165.53, for a total value of $33,106.00. Following the completion of the sale, the director now owns 7,813 shares of the company’s stock, valued at $1,293,285.89. The trade was a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 93,048 shares of company stock worth $17,374,274 over the last three months. 12.99% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on GOOG. Needham & Company LLC restated a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. Oppenheimer boosted their price objective on Alphabet from $215.00 to $225.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Scotiabank boosted their price objective on Alphabet from $212.00 to $240.00 and gave the company a “sector outperform” rating in a research report on Friday, January 24th. Benchmark reiterated a “negative” rating on shares of Alphabet in a research report on Wednesday, February 5th. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and an average target price of $209.13.

Alphabet Price Performance

GOOG opened at $167.62 on Monday. The stock has a fifty day simple moving average of $187.41 and a two-hundred day simple moving average of $178.10. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The company has a market cap of $2.04 trillion, a price-to-earnings ratio of 20.82, a price-to-earnings-growth ratio of 1.34 and a beta of 1.03. Alphabet Inc. has a 12-month low of $141.13 and a 12-month high of $208.70.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Research analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be issued a dividend of $0.20 per share. The ex-dividend date is Monday, March 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.48%. Alphabet’s payout ratio is presently 9.94%.

About Alphabet

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.