Edgestream Partners L.P. Boosts Holdings in Alphabet Inc. (NASDAQ:GOOG)

Edgestream Partners L.P. lifted its stake in Alphabet Inc. (NASDAQ:GOOG) by 8.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,620 shares of the information services provider’s stock after purchasing an additional 1,024 shares during the quarter. Edgestream Partners L.P.’s holdings in Alphabet were worth $1,648,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently modified their holdings of the company. Totem Point Management LLC grew its stake in shares of Alphabet by 22.0% during the 1st quarter. Totem Point Management LLC now owns 3,171 shares of the information services provider’s stock valued at $8,857,000 after purchasing an additional 571 shares during the period. Somerville Kurt F grew its stake in shares of Alphabet by 10.3% during the 1st quarter. Somerville Kurt F now owns 118 shares of the information services provider’s stock valued at $330,000 after purchasing an additional 11 shares during the period. BCK Partners Inc. bought a new stake in shares of Alphabet during the 1st quarter valued at about $2,564,000. Hall Capital Management Co. Inc. grew its stake in shares of Alphabet by 53.2% during the 1st quarter. Hall Capital Management Co. Inc. now owns 144 shares of the information services provider’s stock valued at $402,000 after purchasing an additional 50 shares during the period. Finally, Fairfield Bush & CO. grew its stake in shares of Alphabet by 6.8% during the 1st quarter. Fairfield Bush & CO. now owns 3,370 shares of the information services provider’s stock valued at $9,412,000 after purchasing an additional 214 shares during the period. Hedge funds and other institutional investors own 27.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on GOOG. Robert W. Baird boosted their price target on Alphabet from $123.00 to $140.00 in a research note on Wednesday, July 26th. Susquehanna boosted their price objective on Alphabet from $120.00 to $150.00 in a research note on Wednesday, July 26th. Wedbush began coverage on Alphabet in a research note on Monday, August 21st. They set an “outperform” rating for the company. Finally, Oppenheimer reiterated an “outperform” rating and set a $160.00 price objective on shares of Alphabet in a research note on Wednesday, October 25th. Ten investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $130.69.

Alphabet Stock Up 0.7 %

NASDAQ GOOG opened at $137.92 on Tuesday. The stock’s 50 day moving average is $134.60 and its 200 day moving average is $128.70. The company has a current ratio of 2.04, a quick ratio of 2.01 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 12 month low of $85.57 and a 12 month high of $142.38. The stock has a market cap of $1.73 trillion, a PE ratio of 26.47, a P/E/G ratio of 1.53 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Tuesday, October 24th. The information services provider reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $0.10. The business had revenue of $64.05 billion for the quarter, compared to analysts’ expectations of $63.13 billion. Alphabet had a return on equity of 25.24% and a net margin of 22.46%. Research analysts predict that Alphabet Inc. will post 5.74 EPS for the current fiscal year.

Insider Transactions at Alphabet

In other news, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $137.30, for a total transaction of $27,460.00. Following the transaction, the director now owns 7,584 shares of the company’s stock, valued at approximately $1,041,283.20. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $137.30, for a total transaction of $27,460.00. Following the transaction, the director now owns 7,584 shares of the company’s stock, valued at approximately $1,041,283.20. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 3,749 shares of the business’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $136.28, for a total value of $510,913.72. Following the transaction, the chief accounting officer now directly owns 25,568 shares in the company, valued at approximately $3,484,407.04. The disclosure for this sale can be found here. Insiders have sold 176,576 shares of company stock valued at $23,425,367 in the last ninety days. Corporate insiders own 12.99% of the company’s stock.

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, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.