Eagle Rock Investment Company LLC Sells 4,812 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Eagle Rock Investment Company LLC reduced its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 3.8% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 123,244 shares of the information services provider's stock after selling 4,812 shares during the period. Alphabet comprises about 3.3% of Eagle Rock Investment Company LLC's investment portfolio, making the stock its 3rd biggest position. Eagle Rock Investment Company LLC's holdings in Alphabet were worth $19,059,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the business. Wealth Group Ltd. lifted its holdings in Alphabet by 5.2% during the 4th quarter. Wealth Group Ltd. now owns 1,582 shares of the information services provider's stock valued at $299,000 after purchasing an additional 78 shares during the last quarter. Capital & Planning LLC lifted its holdings in Alphabet by 34.3% during the 4th quarter. Capital & Planning LLC now owns 4,383 shares of the information services provider's stock valued at $830,000 after purchasing an additional 1,119 shares during the last quarter. Eagle Capital Management LLC lifted its holdings in Alphabet by 0.7% during the 4th quarter. Eagle Capital Management LLC now owns 50,132 shares of the information services provider's stock valued at $9,490,000 after purchasing an additional 371 shares during the last quarter. Brighton Jones LLC lifted its holdings in Alphabet by 3.9% during the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider's stock valued at $20,886,000 after purchasing an additional 4,110 shares during the last quarter. Finally, Union Bancaire Privee UBP SA bought a new position in Alphabet during the 4th quarter valued at about $154,716,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Tigress Financial boosted their target price on shares of Alphabet from $220.00 to $240.00 and gave the stock a "strong-buy" rating in a research note on Wednesday, April 30th. BMO Capital Markets reaffirmed an "outperform" rating and issued a $200.00 target price (down from $230.00) on shares of Alphabet in a research note on Thursday, April 17th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $200.00 target price on shares of Alphabet in a research note on Wednesday, April 23rd. Roth Mkm reaffirmed a "buy" rating and issued a $220.00 target price on shares of Alphabet in a research note on Wednesday, March 19th. Finally, UBS Group set a $195.00 target price on shares of Alphabet in a research note on Friday, April 25th. Ten equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $199.75.

Alphabet Stock Up 3.3%

Alphabet stock opened at $173.68 on Friday. The stock has a market capitalization of $2.11 trillion, a PE ratio of 21.58, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $207.05. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The company has a 50 day moving average of $160.14 and a 200-day moving average of $174.35.

Alphabet (NASDAQ:GOOGL - 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, beating the consensus estimate of $2.02 by $0.79. The company had revenue of $76.49 billion during the quarter, compared to analysts' expectations of $89.30 billion. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. During the same quarter in the prior year, the company earned $1.89 earnings per share. On average, equities research analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.48%. The ex-dividend date of this dividend is Monday, June 9th. This is a boost from Alphabet's previous quarterly dividend of $0.20. Alphabet's dividend payout ratio is 9.36%.

Insider Transactions at Alphabet

In other news, Director John L. Hennessy sold 200 shares of the business's stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $165.53, for a total value of $33,106.00. Following the sale, the director now owns 7,813 shares of the company's stock, valued at $1,293,285.89. The trade was a 2.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $168.71, for a total transaction of $5,483,075.00. Following the completion of the sale, the chief executive officer now directly owns 2,587,696 shares in the company, valued at approximately $436,570,192.16. This represents a 1.24% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 195,770 shares of company stock valued at $32,036,638 over the last 90 days. 11.64% of the stock is owned by corporate insiders.

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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