Alphabet Inc. (NASDAQ:GOOGL) Holdings Decreased by Eagle Ridge Investment Management

Eagle Ridge Investment Management reduced its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 1.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 225,035 shares of the information services provider’s stock after selling 3,900 shares during the period. Alphabet comprises about 3.1% of Eagle Ridge Investment Management’s holdings, making the stock its 8th largest holding. Eagle Ridge Investment Management’s holdings in Alphabet were worth $31,435,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of GOOGL. Bfsg LLC boosted its position in Alphabet by 17.4% during the third quarter. Bfsg LLC now owns 14,095 shares of the information services provider’s stock valued at $1,845,000 after purchasing an additional 2,085 shares during the last quarter. One Day In July LLC lifted its holdings in shares of Alphabet by 12.9% during the 3rd quarter. One Day In July LLC now owns 5,601 shares of the information services provider’s stock valued at $733,000 after buying an additional 638 shares during the last quarter. Schmidt P J Investment Management Inc. grew its stake in shares of Alphabet by 4.6% in the 3rd quarter. Schmidt P J Investment Management Inc. now owns 7,310 shares of the information services provider’s stock valued at $1,007,000 after buying an additional 320 shares in the last quarter. Reston Wealth Management LLC increased its holdings in Alphabet by 9.1% in the third quarter. Reston Wealth Management LLC now owns 4,411 shares of the information services provider’s stock worth $577,000 after buying an additional 369 shares during the last quarter. Finally, Avestar Capital LLC raised its position in Alphabet by 7.6% during the third quarter. Avestar Capital LLC now owns 56,197 shares of the information services provider’s stock valued at $7,354,000 after acquiring an additional 3,989 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Evercore ISI increased their target price on Alphabet from $160.00 to $220.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Mizuho raised their price objective on shares of Alphabet from $170.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Stifel Nicolaus upped their target price on shares of Alphabet from $174.00 to $196.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Susquehanna raised their price target on shares of Alphabet from $170.00 to $225.00 and gave the stock a “positive” rating in a research report on Monday, April 29th. Finally, Robert W. Baird upped their price objective on shares of Alphabet from $160.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Five research analysts have rated the stock with a hold rating, thirty have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and a consensus price target of $190.60.

Insider Activity

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $166.80, for a total transaction of $3,753,000.00. Following the completion of the sale, the chief executive officer now directly owns 2,280,511 shares of the company’s stock, valued at approximately $380,389,234.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director John L. Hennessy sold 800 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $149.73, for a total value of $119,784.00. Following the transaction, the director now directly owns 7,164 shares in the company, valued at approximately $1,072,665.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $166.80, for a total value of $3,753,000.00. Following the completion of the sale, the chief executive officer now owns 2,280,511 shares of the company’s stock, valued at approximately $380,389,234.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 252,629 shares of company stock valued at $37,091,240. Company insiders own 0.88% of the company’s stock.

Alphabet Stock Performance

Alphabet stock opened at $171.25 on Wednesday. The stock has a 50-day simple moving average of $151.40 and a 200 day simple moving average of $142.83. The stock has a market capitalization of $2.12 trillion, a price-to-earnings ratio of 26.27, a P/E/G ratio of 1.28 and a beta of 1.02. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 12-month low of $105.16 and a 12-month high of $174.71.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.40. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The company had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $66.04 billion. During the same period in the previous year, the firm posted $1.17 earnings per share. On average, research analysts anticipate that Alphabet Inc. will post 7.57 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 10th will be given a $0.20 dividend. The ex-dividend date of this dividend is Monday, June 10th. This represents a $0.80 dividend on an annualized basis and a yield of 0.47%.

Alphabet 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.