Edge Wealth Management LLC Has $56.46 Million Stake in Alphabet Inc. $GOOGL

Key Points

• Edge Wealth Management reduced its Alphabet stake by 1.7% in the second quarter, selling 2,775 shares and retaining 158,000 shares valued at $56.46 million. Alphabet remains the firm’s largest holding, representing 9.1% of its portfolio.
• Alphabet reported strong quarterly results, with $9.11 in earnings per share and $119.80 billion in revenue, exceeding analyst expectations. Analysts maintain a consensus “Buy” rating with an average price target of $422.16.
• Insiders sold $11.98 million worth of Alphabet shares over the past 90 days, while the company’s stock traded near $349.54 and recently declared a quarterly dividend of $0.22 per share.

Edge Wealth Management LLC lessened its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 1.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 158,000 shares of the information services provider's stock after selling 2,775 shares during the quarter. Alphabet comprises about 9.1% of Edge Wealth Management LLC's investment portfolio, making the stock its largest position. Edge Wealth Management LLC's holdings in Alphabet were worth $56,464,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. EMC Capital Management acquired a new stake in shares of Alphabet during the 4th quarter worth approximately $33,000. Lifetime Wealth Management P.C. acquired a new position in Alphabet in the fourth quarter valued at approximately $32,000. Bard Associates Inc. acquired a new position in Alphabet in the fourth quarter valued at approximately $52,000. Graney & King LLC lifted its holdings in Alphabet by 38.5% in the second quarter. Graney & King LLC now owns 180 shares of the information services provider's stock valued at $64,000 after buying an additional 50 shares during the period. Finally, Van Den Berg Management I Inc. boosted its stake in Alphabet by 319.6% in the first quarter. Van Den Berg Management I Inc. now owns 214 shares of the information services provider's stock valued at $61,000 after acquiring an additional 163 shares during the last quarter. Institutional investors own 40.03% of the company's stock.

Insider Buying and Selling

In related news, major shareholder 2019 Gp L.L.C. Gv sold 196,931 shares of the firm's stock in a transaction on Monday, July 27th. The shares were sold at an average price of $19.46, for a total value of $3,832,277.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Marsida Saraci sold 449 shares of the business's stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $333.20, for a total transaction of $149,606.80. Following the transaction, the chief accounting officer owned 27,386 shares in the company, valued at $9,125,015.20. This represents a 1.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 450,875 shares of company stock worth $11,984,482 over the last 90 days. Company insiders own 11.61% of the company's stock.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $349.54 on Monday. The company has a fifty day moving average price of $345.20 and a 200 day moving average price of $345.18. The firm has a market cap of $4.27 trillion, a PE ratio of 17.56, a PEG ratio of 1.01 and a beta of 1.22. The company has a current ratio of 2.72, a quick ratio of 2.64 and a debt-to-equity ratio of 0.16. Alphabet Inc. has a 1-year low of $235.84 and a 1-year high of $408.61.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings results on Wednesday, July 22nd. The information services provider reported $9.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.89 by $6.22. The firm had revenue of $119.80 billion for the quarter, compared to the consensus estimate of $117.07 billion. Alphabet had a return on equity of 51.32% and a net margin of 54.77%. Research analysts predict that Alphabet Inc. will post 20.51 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 14th. Shareholders of record on Monday, September 7th were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date was Friday, September 4th. Alphabet's dividend payout ratio (DPR) is currently 4.42%.

Analyst Ratings Changes

A number of analysts have commented on GOOGL shares. Needham & Company LLC reaffirmed a "buy" rating and set a $450.00 target price on shares of Alphabet in a report on Wednesday, June 3rd. Citizens Jmp reissued a "market outperform" rating and issued a $515.00 price target on shares of Alphabet in a research note on Wednesday, July 22nd. Jefferies Financial Group restated a "buy" rating on shares of Alphabet in a research report on Monday, June 22nd. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $425.00 price objective on shares of Alphabet in a research note on Thursday, July 23rd. Finally, Wall Street Zen downgraded Alphabet from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. Five research analysts have rated the stock with a Strong Buy rating, forty-five have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $422.16.

Key Stories Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: AI chip sales add a new revenue stream: Alphabet began recognizing revenue from sales of its internally developed AI chip systems in the second quarter. Investors may view the business as both a potential growth driver and a way to monetize Google’s technology infrastructure. 2 Stocks to Buy as Google Starts Selling Its AI Chips
• Positive Sentiment: Analyst raises price target: Tigress Financial Partners increased its price target for GOOGL to $485, reflecting confidence in Alphabet’s Search, Cloud, YouTube, Gemini and custom-chip opportunities. Alphabet Price Target Raised to $485
• Positive Sentiment: Waymo expands internationally: Alphabet’s autonomous-driving unit plans to launch an all-electric robotaxi service in Singapore by 2028, strengthening the long-term investment case for Alphabet’s “Other Bets” portfolio. Waymo to Bring Autonomous Ride-Hailing to Singapore
• Positive Sentiment: Options activity signals bullish positioning: Investors purchased roughly 520,000 Alphabet call options, above typical volume, indicating increased speculative interest in further upside.
• Neutral Sentiment: Ad-tech ruling avoids a breakup but imposes restrictions: A federal judge ordered Google to share more auction data with publishers and appoint an antitrust monitor, but rejected a forced breakup. Avoiding structural separation limits the immediate risk to Alphabet’s advertising business, while the behavioral remedies could pressure operations and margins. Tech Watchdogs Criticize Google Adtech Ruling
• Negative Sentiment: Higher rates and AI spending remain risks: The Federal Reserve’s rate increase and Alphabet’s heavy investment in AI infrastructure could keep pressure on free cash flow and valuation, even as Cloud backlog and AI demand remain strong.

Alphabet Profile

Alphabet Inc is a technology and holding company founded in 2015 through a restructuring of Google. The company is headquartered in Mountain View, California, and operates globally, serving consumers, businesses, advertisers and developers across numerous countries and regions.

Alphabet's largest business is Google Services, which includes Google Search, online advertising, YouTube, Android, Chrome, Google Maps, Google Play and hardware products such as Pixel devices. These products support activities including internet search, digital content distribution, mobile computing, online communications and advertising.

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