Eagle Global Advisors LLC Lowers Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Eagle Global Advisors LLC reduced its stake in Alphabet Inc. (NASDAQ:GOOG) by 1.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund 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 holding. 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.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Nuveen LLC acquired a new stake in shares of Alphabet in the 1st quarter valued at approximately $2,622,943,000. GAMMA Investing LLC lifted its holdings in shares of Alphabet by 18,562.3% in the 1st quarter. GAMMA Investing LLC now owns 14,323,323 shares of the information services provider’s stock valued at $2,237,733,000 after buying an additional 14,246,573 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Alphabet by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider’s stock valued at $64,299,725,000 after buying an additional 9,687,855 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Alphabet by 9.9% in the 1st quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider’s stock valued at $15,971,861,000 after buying an additional 9,243,959 shares during the period. Finally, Northern Trust Corp lifted 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 buying an additional 7,917,625 shares during the period. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Citigroup reissued a “sell” rating on shares of Alphabet in a report on Wednesday, April 23rd. Cantor Fitzgerald reissued a “neutral” rating and issued a $171.00 price target on shares of Alphabet in a report on Friday, April 25th. Needham & Company LLC cut Alphabet from a “buy” rating to a “cautious” rating in a report on Friday, May 2nd. Tigress Financial reissued a “strong-buy” rating on shares of Alphabet in a report on Friday, May 2nd. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $210.00 price objective (up from $185.00) on shares of Alphabet in a report on Thursday, July 24th. Three investment 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, the stock has a consensus rating of “Moderate Buy” and an average price target of $215.19.

Insider Transactions at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 15,000 shares of the business’s stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $185.76, for a total transaction of $2,786,400.00. Following the completion of the sale, the director owned 240,400 shares of the company’s stock, valued at approximately $44,656,704. The trade was a 5.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 sale, the director directly owned 6,013 shares of the company’s stock, valued at approximately $1,094,245.74. This trade represents a 6.24% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 273,219 shares of company stock worth $49,474,273 in the last three months. 12.99% of the stock is currently owned by insiders.

Alphabet Price Performance

Shares of NASDAQ:GOOG opened at $202.11 on Monday. The company has a market cap of $2.44 trillion, a P/E ratio of 21.52, a P/E/G ratio of 1.34 and a beta of 1.02. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $208.70. The business has a fifty day simple moving average of $181.90 and a 200-day simple moving average of $174.35.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.67 billion. During the same quarter in the previous year, the business earned $1.89 earnings per share. The firm’s quarterly revenue was up 13.8% compared to the same quarter last year. Equities research analysts forecast that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be given a dividend of $0.21 per share. 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 payout ratio is 8.95%.

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.