Eagle Bay Advisors LLC Has $1.01 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Key Points

• Eagle Bay Advisors LLC reduced its ownership in Alphabet Inc. by 38.5%, selling 4,080 shares in the first quarter, bringing its total holdings to 6,518 shares, worth approximately $1,008,000.
• CEO Sundar Pichai sold 32,500 shares of Alphabet at an average price of $178.52, decreasing his ownership by 1.25%, while Director Kavitark Ram Shriram sold 18,566 shares for about $3.45 million.
• Alphabet has announced a quarterly dividend of $0.21 per share, which will be paid on September 15th, representing an annual yield of 0.44% and a payout ratio of 8.95%.

Eagle Bay Advisors LLC cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 38.5% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,518 shares of the information services provider's stock after selling 4,080 shares during the quarter. Alphabet makes up approximately 0.9% of Eagle Bay Advisors LLC's holdings, making the stock its 28th largest holding. Eagle Bay Advisors LLC's holdings in Alphabet were worth $1,008,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Mystic Asset Management Inc. raised its position in Alphabet by 6.7% during the first quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider's stock valued at $4,400,000 after acquiring an additional 1,791 shares in the last quarter. Harbour Trust & Investment Management Co raised its holdings in Alphabet by 0.3% in 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 acquiring an additional 80 shares in the last quarter. Rockbridge Capital Management LLC bought a new position in shares of Alphabet during the fourth quarter worth about $3,119,000. Cypress Capital LLC boosted its position in Alphabet by 4.1% in the first quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider's stock worth $2,213,000 after purchasing an additional 563 shares during the last quarter. Finally, Optivise Advisory Services LLC boosted its holdings in Alphabet by 8.0% during the 4th quarter. Optivise Advisory Services LLC now owns 5,464 shares of the information services provider's stock valued at $1,035,000 after acquiring an additional 403 shares during the period. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. JPMorgan Chase & Co. raised their price target on Alphabet from $200.00 to $232.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. BNP Paribas Exane reaffirmed a "neutral" rating and set a $172.00 price target on shares of Alphabet in a research report on Friday, June 27th. Tigress Financial lifted their price target on shares of Alphabet from $220.00 to $240.00 and gave the company a "strong-buy" rating in a research report on Wednesday, April 30th. Mizuho lowered their price objective on shares of Alphabet from $230.00 to $205.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. Finally, Bank of America boosted their price objective on shares of Alphabet from $210.00 to $217.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $211.39.

Insider Buying and Selling

In other Alphabet news, Director Kavitark Ram Shriram sold 18,566 shares of the company's stock in a transaction on Friday, July 18th. The stock was sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the transaction, the director owned 243,400 shares of the company's stock, valued at approximately $45,213,984. This represents a 7.09% decrease in their position. 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 32,500 shares of the company's stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $184.38, for a total value of $5,992,350.00. Following the transaction, the chief executive officer directly owned 2,527,392 shares in the company, valued at approximately $466,000,536.96. This represents a 1.27% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 249,298 shares of company stock worth $43,505,967. Corporate insiders own 11.64% of the company's stock.

Alphabet Stock Down 2.4%

Shares of Alphabet stock traded down $4.79 during midday trading on Thursday, hitting $191.74. The company's stock had a trading volume of 18,906,998 shares, compared to its average volume of 36,930,727. The firm has a market capitalization of $2.33 trillion, a P/E ratio of 20.37, a PEG ratio of 1.30 and a beta of 1.00. The stock has a 50-day simple moving average of $177.49 and a 200-day simple moving average of $173.11. 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 1-year low of $140.53 and a 1-year high of $207.05.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be issued a dividend of $0.21 per share. The ex-dividend date is Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.44%. 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.