Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Eagle Global Advisors LLC

Eagle Global Advisors LLC lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 220,312 shares of the information services provider’s stock after selling 4,159 shares during the quarter. Alphabet accounts for 1.4% of Eagle Global Advisors LLC’s investment portfolio, making the stock its 17th biggest position. Eagle Global Advisors LLC’s holdings in Alphabet were worth $34,419,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. AIA Group Ltd lifted its stake in shares of Alphabet by 16.8% in the first quarter. AIA Group Ltd now owns 119,918 shares of the information services provider’s stock worth $18,735,000 after acquiring an additional 17,272 shares in the last quarter. Mainsail Asset Management LLC lifted its stake in shares of Alphabet by 2.0% in the first quarter. Mainsail Asset Management LLC now owns 5,948 shares of the information services provider’s stock worth $929,000 after acquiring an additional 115 shares in the last quarter. WP Advisors LLC lifted its stake in shares of Alphabet by 16.0% in the first quarter. WP Advisors LLC now owns 107,655 shares of the information services provider’s stock worth $16,819,000 after acquiring an additional 14,858 shares in the last quarter. Motley Fool Asset Management LLC lifted its stake in shares of Alphabet by 2.1% in the first quarter. Motley Fool Asset Management LLC now owns 542,347 shares of the information services provider’s stock worth $84,731,000 after acquiring an additional 11,294 shares in the last quarter. Finally, Ballast Inc. lifted its stake in shares of Alphabet by 54.8% in the first quarter. Ballast Inc. now owns 7,330 shares of the information services provider’s stock worth $1,145,000 after acquiring an additional 2,594 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Stock Performance

Shares of GOOG stock opened at $202.11 on Monday. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $208.70. The firm has a market capitalization of $2.44 trillion, a price-to-earnings ratio of 21.52, a price-to-earnings-growth ratio of 1.34 and a beta of 1.02. The business has a 50 day simple moving average of $181.90 and a 200 day simple moving average of $174.35. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.12 by $0.19. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. The business had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.67 billion. During the same period in the prior year, the company posted $1.89 EPS. The business’s revenue for the quarter was up 13.8% compared to the same quarter last year. On average, equities research analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet’s dividend payout ratio is 8.95%.

Wall Street Analyst Weigh In

GOOG has been the topic of several recent analyst reports. Citizens Jmp upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Thursday, June 26th. The Goldman Sachs Group restated a “buy” rating and set a $220.00 price objective on shares of Alphabet in a research note on Monday, June 2nd. Rosenblatt Securities upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 25th. JPMorgan Chase & Co. upped their price objective on Alphabet from $200.00 to $232.00 and gave the company an “overweight” rating in a research note on Thursday, July 24th. Finally, Piper Sandler restated a “neutral” rating on shares of Alphabet in a research note on Wednesday, July 9th. Three research analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have assigned a buy rating and five have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $215.19.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total value of $5,801,900.00. Following the completion of the transaction, the chief executive officer directly owned 2,559,892 shares of the company’s stock, valued at $456,991,919.84. This represents a 1.25% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Kavitark Ram Shriram sold 18,566 shares of the stock in a transaction on Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $3,448,820.16. Following the transaction, the director directly owned 243,400 shares of the company’s stock, valued at approximately $45,213,984. The trade was a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 273,219 shares of company stock valued at $49,474,273 in the last three months. 12.99% of the stock is currently owned by corporate insiders.

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.