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

Edgestream Partners L.P. grew its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 8.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,620 shares of the information services provider’s stock after purchasing an additional 1,024 shares during the period. Edgestream Partners L.P.’s holdings in Alphabet were worth $1,648,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in GOOG. Totem Point Management LLC grew its position in shares of Alphabet by 22.0% during the first 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 in the last quarter. Somerville Kurt F grew its position in shares of Alphabet by 10.3% during the first 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 in the last quarter. BCK Partners Inc. purchased a new position in shares of Alphabet during the first quarter valued at about $2,564,000. Hall Capital Management Co. Inc. grew its position in shares of Alphabet by 53.2% during the first 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 in the last quarter. Finally, Fairfield Bush & CO. grew its position in shares of Alphabet by 6.8% during the first 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 in the last quarter. Hedge funds and other institutional investors own 27.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on GOOG shares. Robert W. Baird raised their price objective on Alphabet from $123.00 to $140.00 in a research report on Wednesday, July 26th. Susquehanna increased their price target on shares of Alphabet from $120.00 to $150.00 in a report on Wednesday, July 26th. Wedbush assumed coverage on shares of Alphabet in a report on Monday, August 21st. They issued an “outperform” rating for the company. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $160.00 price target on shares of Alphabet in a report on Wednesday, October 25th. Ten equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $130.69.

Insider Transactions at Alphabet

In other news, Director Kavitark Ram Shriram sold 75,000 shares of Alphabet stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $131.09, for a total transaction of $9,831,750.00. Following the completion of the sale, the director now directly owns 104,364 shares in the company, valued at $13,681,076.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Kavitark Ram Shriram sold 75,000 shares of the business’s stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $131.09, for a total transaction of $9,831,750.00. Following the completion of the transaction, the director now directly owns 104,364 shares in the company, valued at $13,681,076.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ann Mather sold 220 shares of the business’s stock in a transaction on Friday, August 25th. The shares were sold at an average price of $130.14, for a total transaction of $28,630.80. Following the transaction, the director now owns 4,818 shares of the company’s stock, valued at $627,014.52. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 176,576 shares of company stock worth $23,425,367. Company insiders own 12.99% of the company’s stock.

Alphabet Trading Up 0.7 %

NASDAQ:GOOG opened at $137.92 on Tuesday. Alphabet Inc. has a 12 month low of $85.57 and a 12 month high of $142.38. The firm has a fifty day simple moving average of $134.60 and a 200-day simple moving average of $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. The company has a market capitalization of $1.73 trillion, a P/E ratio of 26.47, a PEG ratio of 1.53 and a beta of 1.05.

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

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