Eaton Financial Holdings Company LLC Buys 11,326 Shares of Alphabet Inc. $GOOGL

Eaton Financial Holdings Company LLC increased its stake in Alphabet Inc. (NASDAQ:GOOGL) by 49.1% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 34,406 shares of the information services provider’s stock after purchasing an additional 11,326 shares during the quarter. Alphabet comprises 1.9% of Eaton Financial Holdings Company LLC’s investment portfolio, making the stock its 17th largest holding. Eaton Financial Holdings Company LLC’s holdings in Alphabet were worth $6,063,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Mystic Asset Management Inc. increased its stake in Alphabet by 6.7% during the 1st quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider’s stock valued at $4,400,000 after purchasing an additional 1,791 shares in the last quarter. Harbour Trust & Investment Management Co increased its stake in Alphabet by 0.3% during the 1st quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider’s stock valued at $4,187,000 after purchasing an additional 80 shares in the last quarter. Cypress Capital LLC increased its stake in Alphabet by 4.1% during the 1st quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider’s stock valued at $2,213,000 after purchasing an additional 563 shares in the last quarter. Bridgeway Capital Management LLC increased its stake in Alphabet by 17.9% during the 1st quarter. Bridgeway Capital Management LLC now owns 88,187 shares of the information services provider’s stock valued at $13,637,000 after purchasing an additional 13,371 shares in the last quarter. Finally, Alaethes Wealth LLC grew its stake in shares of Alphabet by 1.1% in the 1st quarter. Alaethes Wealth LLC now owns 7,646 shares of the information services provider’s stock worth $1,182,000 after acquiring an additional 84 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Guggenheim upped their target price on shares of Alphabet from $190.00 to $210.00 and gave the stock a “buy” rating in a research note on Wednesday, July 23rd. Needham & Company LLC upped their target price on shares of Alphabet from $220.00 to $260.00 and gave the stock a “buy” rating in a research note on Wednesday, September 3rd. BNP Paribas lowered shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, June 26th. DA Davidson upped their target price on shares of Alphabet from $180.00 to $190.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 2nd. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Alphabet in a research note on Wednesday, September 3rd. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $233.44.

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $249.50, for a total transaction of $8,108,750.00. Following the sale, the chief executive officer directly owned 2,397,392 shares of the company’s stock, valued at $598,149,304. This represents a 1.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider John Kent Walker sold 23,820 shares of the company’s stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the sale, the insider directly owned 42,999 shares in the company, valued at approximately $8,371,905.30. This trade represents a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 258,088 shares of company stock valued at $52,405,304. Insiders own 11.64% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $246.54 on Friday. The company’s 50-day moving average is $215.93 and its 200 day moving average is $183.03. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The company has a market capitalization of $2.98 trillion, a P/E ratio of 26.26, a price-to-earnings-growth ratio of 1.66 and a beta of 1.01. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $256.00.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $2.15 by $0.16. The company had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.60 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. On average, equities research analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.3%. Alphabet’s dividend payout ratio is 8.95%.

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.