Eagle Global Advisors LLC Sells 2,120 Shares of Alphabet Inc. $GOOGL

Eagle Global Advisors LLC decreased its holdings in Alphabet Inc. (NASDAQ:GOOGLFree Report) by 1.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 178,277 shares of the information services provider’s stock after selling 2,120 shares during the quarter. Alphabet makes up about 1.7% of Eagle Global Advisors LLC’s investment portfolio, making the stock its 16th largest position. Eagle Global Advisors LLC’s holdings in Alphabet were worth $43,339,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Littlejohn Financial Services Inc. raised its stake in shares of Alphabet by 315.7% in the third quarter. Littlejohn Financial Services Inc. now owns 7,504 shares of the information services provider’s stock worth $1,824,000 after acquiring an additional 5,699 shares during the last quarter. Melfa Wealth Management Inc. increased its holdings in shares of Alphabet by 12.1% in the third quarter. Melfa Wealth Management Inc. now owns 3,015 shares of the information services provider’s stock valued at $733,000 after purchasing an additional 325 shares in the last quarter. Blalock Williams LLC acquired a new stake in shares of Alphabet in the third quarter valued at approximately $2,709,000. Wealth Effects LLC raised its position in Alphabet by 1.1% in the 3rd quarter. Wealth Effects LLC now owns 29,460 shares of the information services provider’s stock worth $7,162,000 after purchasing an additional 310 shares during the last quarter. Finally, Keystone Financial Services LLC acquired a new position in Alphabet during the 3rd quarter worth $232,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $283.48, for a total value of $9,213,100.00. Following the completion of the sale, the chief executive officer directly owned 2,337,119 shares in the company, valued at $662,526,494.12. This represents a 1.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John Kent Walker sold 17,829 shares of Alphabet stock in a transaction dated Tuesday, December 30th. The shares were sold at an average price of $314.89, for a total value of $5,614,173.81. Following the transaction, the insider owned 42,972 shares in the company, valued at $13,531,453.08. This trade represents a 29.32% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 222,409 shares of company stock valued at $68,564,532. Company insiders own 11.55% of the company’s stock.

Alphabet Stock Up 0.4%

Shares of NASDAQ:GOOGL opened at $334.55 on Wednesday. The company has a 50 day moving average price of $317.62 and a two-hundred day moving average price of $262.87. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.75 and a current ratio of 1.75. The company has a market capitalization of $4.04 trillion, a PE ratio of 32.99, a PEG ratio of 1.84 and a beta of 1.08. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $340.49.

Alphabet (NASDAQ:GOOGLGet Free Report) last announced its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 35.00%. The company had revenue of $102.35 billion for the quarter, compared to analysts’ expectations of $99.90 billion. Analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.

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Analyst Ratings Changes

GOOGL has been the topic of several research reports. BMO Capital Markets upped their price target on Alphabet from $340.00 to $343.00 and gave the company an “outperform” rating in a research note on Tuesday, December 16th. President Capital boosted their price objective on Alphabet from $258.00 to $323.00 and gave the stock a “buy” rating in a report on Thursday, November 6th. Roth Mkm reaffirmed a “buy” rating and issued a $365.00 target price (up previously from $310.00) on shares of Alphabet in a research note on Tuesday. Citizens Jmp boosted their price target on shares of Alphabet from $340.00 to $385.00 and gave the stock a “market outperform” rating in a research note on Wednesday, December 31st. Finally, CICC Research increased their price objective on shares of Alphabet from $240.00 to $303.00 and gave the company an “outperform” rating in a report on Friday, October 31st. Four equities research analysts have rated the stock with a Strong Buy rating, forty-two have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $334.60.

View Our Latest Analysis on Alphabet

Alphabet Profile

(Free Report)

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.

See Also

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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