Park Edge Advisors LLC Has $935,000 Stake in Alphabet Inc. (NASDAQ:GOOG)

Park Edge Advisors LLC lowered its position in Alphabet Inc. (NASDAQ:GOOG) by 22.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,141 shares of the information services provider’s stock after selling 1,788 shares during the period. Park Edge Advisors LLC’s holdings in Alphabet were worth $935,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in GOOG. Financial Perspectives Inc raised its holdings in Alphabet by 2.2% during the first quarter. Financial Perspectives Inc now owns 27,356 shares of the information services provider’s stock valued at $4,165,000 after buying an additional 591 shares in the last quarter. Spinnaker Investment Group LLC lifted its holdings in Alphabet by 3.7% in the 1st quarter. Spinnaker Investment Group LLC now owns 2,341 shares of the information services provider’s stock worth $356,000 after purchasing an additional 83 shares during the last quarter. First Trust Direct Indexing L.P. boosted its position in Alphabet by 4.7% during the first quarter. First Trust Direct Indexing L.P. now owns 41,599 shares of the information services provider’s stock worth $6,334,000 after purchasing an additional 1,854 shares during the period. Wealthstar Advisors LLC grew its holdings in Alphabet by 9.1% during the first quarter. Wealthstar Advisors LLC now owns 2,650 shares of the information services provider’s stock valued at $403,000 after purchasing an additional 220 shares during the last quarter. Finally, Cornerstone Wealth Management LLC raised its position in shares of Alphabet by 7.4% in the first quarter. Cornerstone Wealth Management LLC now owns 28,169 shares of the information services provider’s stock valued at $4,289,000 after purchasing an additional 1,937 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Stock Performance

NASDAQ GOOG opened at $187.39 on Friday. The company’s fifty day moving average is $176.58 and its two-hundred day moving average is $157.00. Alphabet Inc. has a 52-week low of $115.83 and a 52-week high of $187.62. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.15. The firm has a market capitalization of $2.32 trillion, a price-to-earnings ratio of 28.74, a P/E/G ratio of 1.41 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last released its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.51 by $0.38. The business had revenue of $80.54 billion for the quarter, compared to the consensus estimate of $78.75 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The firm’s revenue for the quarter was up 15.4% compared to the same quarter last year. During the same period last year, the business earned $1.17 earnings per share. Equities research analysts forecast that Alphabet Inc. will post 7.6 EPS for the current year.

Alphabet Dividend Announcement

The company also recently announced a — dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 10th were paid a $0.20 dividend. The ex-dividend date was Monday, June 10th. Alphabet’s payout ratio is 12.27%.

Analyst Ratings Changes

Several research firms recently issued reports on GOOG. Stifel Nicolaus upped their price objective on shares of Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Morgan Stanley reaffirmed an “overweight” rating and issued a $165.00 price target on shares of Alphabet in a research report on Thursday, April 11th. Rosenblatt Securities lowered Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective on the stock. in a research note on Friday, June 28th. Finally, Oppenheimer increased their target price on Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research note on Monday, April 8th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and a consensus target price of $167.86.

Insider Activity at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $157.41, for a total value of $3,541,725.00. Following the sale, the chief executive officer now owns 2,303,011 shares of the company’s stock, valued at approximately $362,516,961.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total value of $125,126.54. Following the completion of the transaction, the chief accounting officer now owns 30,650 shares of the company’s stock, valued at $5,623,355.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $157.41, for a total value of $3,541,725.00. Following the sale, the chief executive officer now directly owns 2,303,011 shares in the company, valued at $362,516,961.51. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 146,288 shares of company stock worth $25,345,053. 12.99% of the stock is owned by corporate insiders.

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.