Eagle Ridge Investment Management Lowers Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Eagle Ridge Investment Management reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 3.1% in the 4th quarter, HoldingsChannel reports. The firm owned 23,796 shares of the information services provider’s stock after selling 773 shares during the quarter. Eagle Ridge Investment Management’s holdings in Alphabet were worth $3,354,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Opal Wealth Advisors LLC raised its holdings in Alphabet by 2.1% in the 3rd quarter. Opal Wealth Advisors LLC now owns 5,486 shares of the information services provider’s stock valued at $723,000 after acquiring an additional 111 shares during the last quarter. Czech National Bank increased its holdings in shares of Alphabet by 45.8% during the 3rd quarter. Czech National Bank now owns 882,124 shares of the information services provider’s stock worth $116,308,000 after buying an additional 277,156 shares during the last quarter. Warren Street Wealth Advisors LLC increased its holdings in shares of Alphabet by 9.4% during the 3rd quarter. Warren Street Wealth Advisors LLC now owns 12,417 shares of the information services provider’s stock worth $1,637,000 after buying an additional 1,063 shares during the last quarter. Benin Management CORP increased its holdings in shares of Alphabet by 161.6% during the 3rd quarter. Benin Management CORP now owns 10,425 shares of the information services provider’s stock worth $1,375,000 after buying an additional 6,440 shares during the last quarter. Finally, Intergy Private Wealth LLC increased its holdings in shares of Alphabet by 5.4% during the 3rd quarter. Intergy Private Wealth LLC now owns 2,581 shares of the information services provider’s stock worth $340,000 after buying an additional 133 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 660 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $143.59, for a total transaction of $94,769.40. Following the transaction, the chief accounting officer now owns 27,920 shares in the company, valued at approximately $4,009,032.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CAO Amie Thuener O’toole sold 660 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $143.59, for a total transaction of $94,769.40. Following the sale, the chief accounting officer now directly owns 27,920 shares in the company, valued at approximately $4,009,032.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $146.29, for a total transaction of $3,291,525.00. Following the completion of the transaction, the chief executive officer now owns 2,377,691 shares of the company’s stock, valued at $347,832,416.39. The disclosure for this sale can be found here. Insiders sold 253,209 shares of company stock valued at $36,711,144 in the last ninety days. Insiders own 12.99% of the company’s stock.

Alphabet Trading Up 0.5 %

Shares of NASDAQ:GOOG traded up $0.82 during mid-day trading on Tuesday, hitting $168.72. The stock had a trading volume of 3,484,382 shares, compared to its average volume of 22,558,266. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.15. The company has a market cap of $2.10 trillion, a PE ratio of 25.75, a P/E/G ratio of 1.59 and a beta of 1.05. Alphabet Inc. has a 12-month low of $104.50 and a 12-month high of $176.42. The company’s 50 day moving average is $149.64 and its 200-day moving average is $142.97.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.51 by $0.38. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The business had revenue of $80.54 billion for the quarter, compared to the consensus estimate of $78.75 billion. During the same quarter last year, the firm earned $1.17 EPS. Alphabet’s revenue for the quarter was up 15.4% on a year-over-year basis. On average, sell-side analysts predict that Alphabet Inc. will post 6.8 EPS for the current year.

Alphabet Announces Dividend

The firm also recently disclosed a — dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 10th will be issued a dividend of $0.20 per share. The ex-dividend date is Monday, June 10th.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on GOOG shares. Oppenheimer upped their price objective on Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a report on Monday, April 8th. Stifel Nicolaus upped their price target on shares of Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Morgan Stanley reaffirmed an “overweight” rating and set a $165.00 price target on shares of Alphabet in a research report on Thursday, April 11th. Susquehanna raised their target price on Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a research note on Wednesday, January 31st. Finally, Raymond James raised their target price on Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a research note on Wednesday, January 24th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $165.67.

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.