Eagle Global Advisors LLC Buys 9,588 Shares of Alphabet Inc. (NASDAQ:GOOG)

Eagle Global Advisors LLC raised its stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 4.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 224,471 shares of the information services provider's stock after purchasing an additional 9,588 shares during the period. Alphabet accounts for approximately 1.8% of Eagle Global Advisors LLC's investment portfolio, making the stock its 14th largest holding. Eagle Global Advisors LLC's holdings in Alphabet were worth $42,748,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Fiduciary Advisors Inc. acquired a new position in shares of Alphabet during the fourth quarter worth $27,000. LSV Asset Management acquired a new stake in Alphabet in the fourth quarter worth about $27,000. WealthTrak Capital Management LLC acquired a new position in shares of Alphabet during the fourth quarter valued at about $38,000. Mountain Hill Investment Partners Corp. acquired a new stake in Alphabet in the 4th quarter worth approximately $39,000. Finally, Noble Wealth Management PBC purchased a new stake in Alphabet during the 4th quarter worth approximately $43,000. 27.26% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $156.16, for a total value of $5,075,200.00. Following the completion of the sale, the chief executive officer now directly owns 2,685,196 shares of the company's stock, valued at approximately $419,320,207.36. The trade was a 1.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Amie Thuener O'toole sold 2,824 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $187.43, for a total value of $529,302.32. Following the transaction, the chief accounting officer now directly owns 15,024 shares in the company, valued at approximately $2,815,948.32. The trade was a 15.82 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 146,824 shares of company stock worth $25,086,603. Insiders own 12.99% of the company's stock.

Alphabet Stock Down 0.5 %

GOOG stock opened at $165.20 on Wednesday. Alphabet Inc. has a one year low of $142.66 and a one year high of $208.70. The firm has a market cap of $2.00 trillion, a PE ratio of 20.52, a PEG ratio of 1.34 and a beta of 1.01. The firm's 50 day moving average price is $161.97 and its 200-day moving average price is $177.17. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84.

Alphabet (NASDAQ:GOOG - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping analysts' consensus estimates of $2.02 by $0.79. The business had revenue of $90.23 billion during the quarter, compared to analysts' expectations of $89.30 billion. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The company's revenue was up 12.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.89 EPS. On average, equities research analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be given a dividend of $0.21 per share. The ex-dividend date is Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.51%. This is a boost from Alphabet's previous quarterly dividend of $0.20. Alphabet's dividend payout ratio (DPR) is presently 9.36%.

Analyst Upgrades and Downgrades

GOOG has been the topic of several research reports. Oppenheimer upped their target price on Alphabet from $185.00 to $200.00 and gave the company an "outperform" rating in a research report on Friday, April 25th. Susquehanna reiterated a "positive" rating on shares of Alphabet in a research report on Friday. UBS Group reduced their price objective on Alphabet from $209.00 to $173.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Morgan Stanley reiterated an "overweight" rating on shares of Alphabet in a research note on Wednesday, February 5th. Finally, The Goldman Sachs Group reaffirmed a "buy" rating on shares of Alphabet in a report on Wednesday, February 5th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have issued a buy rating and five have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $203.94.

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.

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