Eagle Wealth Strategies LLC Sells 152 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Eagle Wealth Strategies LLC reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 8.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,602 shares of the information services provider’s stock after selling 152 shares during the quarter. Eagle Wealth Strategies LLC’s holdings in Alphabet were worth $248,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Macroview Investment Management LLC lifted its position in Alphabet by 4.2% during the fourth quarter. Macroview Investment Management LLC now owns 1,293 shares of the information services provider’s stock valued at $245,000 after buying an additional 52 shares in the last quarter. Cornerstone Planning Group LLC raised its holdings in shares of Alphabet by 2.3% during the 4th quarter. Cornerstone Planning Group LLC now owns 2,381 shares of the information services provider’s stock valued at $457,000 after buying an additional 53 shares during the period. Addison Advisors LLC lifted its position in shares of Alphabet by 0.7% during the fourth quarter. Addison Advisors LLC now owns 7,527 shares of the information services provider’s stock worth $1,425,000 after purchasing an additional 53 shares in the last quarter. Burt Wealth Advisors lifted its holdings in Alphabet by 1.0% in the 4th quarter. Burt Wealth Advisors now owns 5,307 shares of the information services provider’s stock worth $1,005,000 after buying an additional 54 shares in the last quarter. Finally, Perritt Capital Management Inc lifted its stake in shares of Alphabet by 10.4% in the fourth quarter. Perritt Capital Management Inc now owns 618 shares of the information services provider’s stock worth $117,000 after acquiring an additional 58 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Alphabet Trading Up 3.3%

NASDAQ:GOOGL opened at $173.68 on Friday. The stock has a fifty day simple moving average of $160.14 and a 200 day simple moving average of $174.34. The firm has a market capitalization of $2.11 trillion, a price-to-earnings ratio of 21.58, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $207.05. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping the consensus estimate of $2.02 by $0.79. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. The company had revenue of $76.49 billion during the quarter, compared to analysts’ expectations of $89.30 billion. During the same period last year, the company posted $1.89 earnings per share. Sell-side analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be paid a dividend of $0.21 per share. This is an increase from Alphabet’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend is Monday, June 9th. Alphabet’s payout ratio is 9.36%.

Insider Activity

In other news, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $168.71, for a total value of $5,483,075.00. Following the transaction, the chief executive officer now owns 2,587,696 shares in the company, valued at $436,570,192.16. This represents a 1.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kavitark Ram Shriram sold 10,500 shares of the company’s stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total transaction of $1,837,500.00. Following the completion of the transaction, the director now owns 261,966 shares in the company, valued at approximately $45,844,050. This represents a 3.85% decrease in their position. The disclosure for this sale can be found here. Insiders sold 195,770 shares of company stock worth $32,036,638 over the last quarter. Corporate insiders own 11.64% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on GOOGL shares. DA Davidson dropped their target price on shares of Alphabet from $200.00 to $160.00 and set a “neutral” rating for the company in a research report on Monday, April 14th. Tigress Financial boosted their price objective on Alphabet from $220.00 to $240.00 and gave the company a “strong-buy” rating in a report on Wednesday, April 30th. Roth Mkm reaffirmed a “buy” rating and set a $220.00 target price on shares of Alphabet in a report on Wednesday, March 19th. Truist Financial decreased their target price on Alphabet from $220.00 to $200.00 and set a “buy” rating for the company in a research report on Thursday, April 17th. Finally, Bank of America raised their price objective on Alphabet from $185.00 to $200.00 and gave the stock a “buy” rating in a research note on Friday, April 25th. Ten analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $199.75.

Alphabet Company 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, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.