Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Eagle Global Advisors LLC

Key Points

• Eagle Global Advisors LLC reduced its stake in Alphabet Inc. by 1.9%, selling 4,159 shares in the first quarter, leaving them with 220,312 shares valued at approximately $34.4 million.
• Recent insider transactions included Director Kavitark Ram Shriram selling 15,000 shares for roughly $2.79 million, reducing his ownership by 5.87%.
• Alphabet's stock has experienced strong performance with a recent earnings report showing an EPS of $2.31, beating estimates and demonstrating a year-over-year revenue increase of 13.8%.

Eagle Global Advisors LLC decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 1.9% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 220,312 shares of the information services provider's stock after selling 4,159 shares during the quarter. Alphabet comprises about 1.4% of Eagle Global Advisors LLC's investment portfolio, making the stock its 17th biggest position. Eagle Global Advisors LLC's holdings in Alphabet were worth $34,419,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. LSV Asset Management acquired a new stake in shares of Alphabet during the fourth quarter worth $27,000. Principia Wealth Advisory LLC boosted its holdings in shares of Alphabet by 111.8% during the first quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock worth $26,000 after purchasing an additional 85 shares during the last quarter. MorganRosel Wealth Management LLC purchased a new position in shares of Alphabet in the 1st quarter worth $26,000. Greykasell Wealth Strategies Inc. purchased a new position in shares of Alphabet in the 1st quarter worth $32,000. Finally, Goodman Advisory Group LLC purchased a new position in shares of Alphabet in the 1st quarter worth $32,000. Institutional investors and hedge funds own 27.26% of the company's stock.

Alphabet Stock Down 0.2%

Shares of Alphabet stock traded down $0.46 during trading hours on Monday, hitting $201.63. 16,675,980 shares of the company's stock traded hands, compared to its average volume of 24,727,342. The stock has a 50 day simple moving average of $182.53 and a 200-day simple moving average of $174.34. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The company has a market cap of $2.44 trillion, a PE ratio of 21.47, a PEG ratio of 1.34 and a beta of 1.02. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $208.70.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.19. The company had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. The company's revenue was up 13.8% on a year-over-year basis. During the same period last year, the firm earned $1.89 earnings per share. Equities research analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Monday, September 8th. Alphabet's dividend payout ratio (DPR) is 8.95%.

Insider Buying and Selling

In related news, Director Kavitark Ram Shriram sold 18,566 shares of Alphabet stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $3,448,820.16. Following the completion of the transaction, the director directly owned 243,400 shares in the company, valued at approximately $45,213,984. This trade represents a 7.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total value of $5,801,900.00. Following the completion of the transaction, the chief executive officer owned 2,559,892 shares of the company's stock, valued at $456,991,919.84. This trade represents a 1.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 274,219 shares of company stock worth $49,674,273. Corporate insiders own 12.99% of the company's stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Citizens Jmp raised Alphabet from a "hold" rating to a "strong-buy" rating in a research report on Thursday, June 26th. Roth Capital reaffirmed a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. Oppenheimer reaffirmed an "outperform" rating and issued a $235.00 target price (up from $220.00) on shares of Alphabet in a research report on Thursday, July 24th. JPMorgan Chase & Co. increased their target price on Alphabet from $200.00 to $232.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Finally, Westpark Capital reaffirmed a "buy" rating and issued a $210.00 target price on shares of Alphabet in a research report on Friday, April 25th. Three analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have assigned a buy rating and five have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $215.19.

Alphabet Company 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.