Alphabet Inc. (NASDAQ:GOOG) Stock Holdings Trimmed by Edgemoor Investment Advisors Inc.

Edgemoor Investment Advisors Inc. trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 1.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 229,818 shares of the information services provider's stock after selling 2,577 shares during the quarter. Alphabet makes up 3.3% of Edgemoor Investment Advisors Inc.'s holdings, making the stock its 6th biggest holding. Edgemoor Investment Advisors Inc.'s holdings in Alphabet were worth $35,904,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. FMR LLC lifted its position in shares of Alphabet by 2.8% during the 4th quarter. FMR LLC now owns 117,991,725 shares of the information services provider's stock valued at $22,470,344,000 after buying an additional 3,189,592 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Alphabet by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 104,777,092 shares of the information services provider's stock worth $19,894,651,000 after purchasing an additional 1,219,606 shares in the last quarter. Capital International Investors lifted its holdings in Alphabet by 6.7% during the 4th quarter. Capital International Investors now owns 91,236,069 shares of the information services provider's stock worth $17,376,706,000 after purchasing an additional 5,758,244 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Alphabet by 16.1% in the 4th quarter. Northern Trust Corp now owns 57,098,042 shares of the information services provider's stock valued at $10,873,751,000 after acquiring an additional 7,917,625 shares in the last quarter. Finally, Capital Research Global Investors raised its holdings in shares of Alphabet by 0.8% in the 4th quarter. Capital Research Global Investors now owns 39,148,500 shares of the information services provider's stock valued at $7,455,571,000 after acquiring an additional 294,556 shares in the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Alphabet

In other news, Director John L. Hennessy sold 400 shares of the business's stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $181.98, for a total value of $72,792.00. Following the completion of the sale, the director owned 6,013 shares of the company's stock, valued at approximately $1,094,245.74. The trade was a 6.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $184.38, for a total value of $5,992,350.00. Following the transaction, the chief executive officer directly owned 2,527,392 shares of the company's stock, valued at approximately $466,000,536.96. The trade was a 1.27% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 249,409 shares of company stock worth $43,523,710 in the last ninety days. Company insiders own 12.99% of the company's stock.

Alphabet Stock Performance

Shares of NASDAQ GOOG traded up $5.21 during midday trading on Monday, hitting $191.15. The company's stock had a trading volume of 24,552,642 shares, compared to its average volume of 21,599,443. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $208.70. The firm's fifty day moving average price is $174.02 and its 200-day moving average price is $174.50. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77. The firm has a market cap of $2.32 trillion, a P/E ratio of 21.31, a P/E/G ratio of 1.30 and a beta of 1.01.

Alphabet (NASDAQ:GOOG - Get Free Report) last released its earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping analysts' consensus estimates of $2.02 by $0.79. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The business had revenue of $90.23 billion for the quarter, compared to the consensus estimate of $89.30 billion. During the same period in the previous year, the firm earned $1.89 EPS. The business's revenue for the quarter was up 12.0% on a year-over-year basis. On average, sell-side analysts forecast that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.44%. The ex-dividend date was Monday, June 9th. This is a positive change from Alphabet's previous quarterly dividend of $0.20. Alphabet's dividend payout ratio (DPR) is 9.36%.

Analysts Set New Price Targets

A number of research analysts have recently commented on GOOG shares. Rosenblatt Securities upgraded Alphabet from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 25th. Raymond James Financial reissued an "outperform" rating on shares of Alphabet in a report on Wednesday, July 9th. Citigroup reaffirmed a "sell" rating on shares of Alphabet in a research note on Wednesday, April 23rd. Cantor Fitzgerald restated a "neutral" rating and set a $171.00 target price on shares of Alphabet in a report on Friday, April 25th. Finally, Westpark Capital restated a "buy" rating and set a $210.00 target price on shares of Alphabet in a report on Friday, April 25th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have given a buy rating and five have given a strong buy rating to the company. According to data from MarketBeat.com, Alphabet presently has an average rating of "Moderate Buy" and a consensus price target of $208.40.

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.