Eaton Financial Holdings Company LLC Has $568,000 Stake in Alphabet Inc. $GOOG

Key Points

• Eaton Financial Holdings Company LLC increased its stake in Alphabet Inc. by 73.8%, now owning 3,201 shares valued at $568,000.
• Recently, insiders including CEO Sundar Pichai sold significant amounts of stock, with Pichai divesting 32,500 shares for approximately $7.47 million.
• Alphabet's stock performance shows a market cap of $3.05 trillion and a reported earnings per share of $2.31 for the last quarter, exceeding analysts' expectations.

Eaton Financial Holdings Company LLC raised its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 73.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 3,201 shares of the information services provider's stock after purchasing an additional 1,359 shares during the quarter. Eaton Financial Holdings Company LLC's holdings in Alphabet were worth $568,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in GOOG. Independence Bank of Kentucky lifted its position in shares of Alphabet by 10.2% in the 1st quarter. Independence Bank of Kentucky now owns 14,907 shares of the information services provider's stock worth $2,329,000 after acquiring an additional 1,376 shares during the period. RDA Financial Network lifted its position in Alphabet by 5.3% in the second quarter. RDA Financial Network now owns 11,094 shares of the information services provider's stock worth $1,968,000 after purchasing an additional 554 shares during the period. Fermata Advisors LLC boosted its stake in Alphabet by 2.7% during the first quarter. Fermata Advisors LLC now owns 9,771 shares of the information services provider's stock worth $1,527,000 after buying an additional 259 shares in the last quarter. jvl associates llc increased its holdings in Alphabet by 3.5% in the 1st quarter. jvl associates llc now owns 10,055 shares of the information services provider's stock valued at $1,571,000 after buying an additional 343 shares during the period. Finally, Members Trust Co increased its holdings in Alphabet by 84.7% in the 1st quarter. Members Trust Co now owns 4,999 shares of the information services provider's stock valued at $781,000 after buying an additional 2,292 shares during the period. 27.26% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider John Kent Walker sold 23,820 shares of the business's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the transaction, the insider directly owned 42,999 shares in the company, valued at approximately $8,371,905.30. The trade was a 35.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $229.73, for a total value of $7,466,225.00. Following the completion of the sale, the chief executive officer directly owned 2,429,892 shares of the company's stock, valued at approximately $558,219,089.16. This trade represents a 1.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 258,088 shares of company stock valued at $52,405,304 over the last 90 days. Company insiders own 12.99% of the company's stock.

Alphabet Stock Performance

Alphabet stock opened at $252.34 on Wednesday. The company has a market cap of $3.05 trillion, a PE ratio of 26.87, a PEG ratio of 1.71 and a beta of 1.01. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $256.70. The company's 50-day moving average is $212.86 and its two-hundred day moving average is $182.73.

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

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were paid a $0.21 dividend. The ex-dividend date of this dividend was Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet's dividend payout ratio is 8.95%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Wells Fargo & Company reiterated an "equal weight" rating on shares of Alphabet in a research report on Wednesday, July 9th. Lake Street Capital reaffirmed a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. Raymond James Financial reissued an "outperform" rating and issued a $210.00 target price (up from $185.00) on shares of Alphabet in a report on Thursday, July 24th. Scotiabank boosted their price target on Alphabet from $200.00 to $240.00 and gave the company a "sector outperform" rating in a research note on Tuesday, July 22nd. Finally, Barclays reiterated a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. Four analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, five have issued a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $230.35.

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.

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