E&G Advisors LP Has $6.60 Million Position in Alphabet Inc. (NASDAQ:GOOGL)

E&G Advisors LP decreased its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 15.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 42,661 shares of the information services provider's stock after selling 7,660 shares during the period. Alphabet comprises approximately 1.9% of E&G Advisors LP's holdings, making the stock its 10th largest holding. E&G Advisors LP's holdings in Alphabet were worth $6,597,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Compass Planning Associates Inc purchased a new position in shares of Alphabet during the fourth quarter valued at $30,000. Anderson Financial Strategies LLC bought a new position in Alphabet during the 4th quarter worth about $49,000. EQ Wealth Advisors LLC bought a new position in Alphabet during the 1st quarter worth about $49,000. Navigoe LLC purchased a new position in Alphabet during the 4th quarter valued at about $51,000. Finally, Prudent Man Investment Management Inc. bought a new position in shares of Alphabet during the fourth quarter valued at approximately $53,000. Hedge funds and other institutional investors own 40.03% of the company's stock.

Alphabet Trading Up 2.9%

Shares of NASDAQ:GOOGL opened at $178.53 on Monday. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $207.05. The business has a 50 day moving average of $166.45 and a two-hundred day moving average of $174.26. The company has a market capitalization of $2.17 trillion, a PE ratio of 19.90, a PEG ratio of 1.26 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.79. The firm had revenue of $76.49 billion during the quarter, compared to analysts' expectations of $89.30 billion. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. During the same period in the previous year, the business posted $1.89 EPS. As a group, analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were paid a dividend of $0.21 per share. This is a positive change from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 0.47%. The ex-dividend date was Monday, June 9th. Alphabet's dividend payout ratio is presently 9.36%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on GOOGL. BNP Paribas lowered Alphabet from a "strong-buy" rating to a "hold" rating in a research report on Thursday. Wells Fargo & Company lifted their target price on Alphabet from $167.00 to $175.00 and gave the company an "equal weight" rating in a research note on Friday, April 25th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $200.00 target price on shares of Alphabet in a report on Wednesday, April 23rd. Sanford C. Bernstein raised their price target on shares of Alphabet from $165.00 to $185.00 and gave the company a "market perform" rating in a report on Friday, April 25th. Finally, Susquehanna cut their price objective on shares of Alphabet from $225.00 to $220.00 and set a "positive" rating on the stock in a research report on Friday, April 25th. Ten equities research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and four have given a strong buy rating to the company. According to MarketBeat.com, Alphabet has an average rating of "Moderate Buy" and an average price target of $199.95.

Insider Activity

In related news, Director John L. Hennessy sold 600 shares of Alphabet stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $105,000.00. Following the sale, the director now owns 6,813 shares of the company's stock, valued at approximately $1,192,275. This trade represents a 8.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 18th. The stock was sold at an average price of $176.68, for a total transaction of $5,742,100.00. Following the completion of the sale, the chief executive officer now directly owns 2,555,196 shares of the company's stock, valued at approximately $451,452,029.28. The trade was a 1.26% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 216,195 shares of company stock worth $35,764,898 in the last ninety days. Company insiders own 11.55% of the company's stock.

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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