Alphabet Inc. (NASDAQ:GOOGL) is Eagle Rock Investment Company LLC’s 5th Largest Position

Eagle Rock Investment Company LLC cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 127,691 shares of the information services provider’s stock after selling 273 shares during the quarter. Alphabet accounts for approximately 3.6% of Eagle Rock Investment Company LLC’s holdings, making the stock its 5th biggest holding. Eagle Rock Investment Company LLC’s holdings in Alphabet were worth $19,272,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Vermillion & White Wealth Management Group LLC purchased a new position in Alphabet in the 4th quarter worth approximately $30,000. DiNuzzo Private Wealth Inc. purchased a new position in shares of Alphabet in the fourth quarter worth $38,000. Meritage Group LP raised its holdings in Alphabet by 1,061.5% during the 3rd quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock valued at $40,000 after buying an additional 276 shares during the last quarter. Armor Investment Advisors LLC boosted its position in Alphabet by 31.0% during the 4th quarter. Armor Investment Advisors LLC now owns 338 shares of the information services provider’s stock valued at $47,000 after buying an additional 80 shares during the period. Finally, IAG Wealth Partners LLC grew its holdings in Alphabet by 55.9% in the 4th quarter. IAG Wealth Partners LLC now owns 343 shares of the information services provider’s stock worth $48,000 after acquiring an additional 123 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.

Alphabet Stock Performance

Shares of GOOGL stock opened at $185.41 on Friday. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. The company has a 50 day moving average price of $171.70 and a 200-day moving average price of $153.58. Alphabet Inc. has a 52 week low of $115.35 and a 52 week high of $186.05. The firm has a market capitalization of $2.29 trillion, a PE ratio of 28.44, a P/E/G ratio of 1.38 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.40. The business had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $66.04 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. During the same quarter in the previous year, the firm posted $1.17 EPS. As a group, equities research analysts expect that Alphabet Inc. will post 7.6 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 10th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date was Monday, June 10th. Alphabet’s dividend payout ratio is 12.27%.

Insider Buying and Selling at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $155.67, for a total value of $3,502,575.00. Following the transaction, the chief executive officer now owns 2,325,513 shares of the company’s stock, valued at $362,012,608.71. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, SVP Prabhakar Raghavan sold 3,258 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $155.97, for a total value of $508,150.26. Following the transaction, the senior vice president now owns 144,685 shares of the company’s stock, valued at $22,566,519.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $155.67, for a total value of $3,502,575.00. Following the transaction, the chief executive officer now owns 2,325,513 shares of the company’s stock, valued at $362,012,608.71. The disclosure for this sale can be found here. Insiders sold a total of 146,284 shares of company stock worth $24,534,393 in the last three months. 11.55% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages have recently commented on GOOGL. Jefferies Financial Group upped their price objective on shares of Alphabet from $200.00 to $215.00 and gave the company a “buy” rating in a research note on Wednesday. Canaccord Genuity Group lifted their price objective on Alphabet from $190.00 to $210.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Morgan Stanley restated an “overweight” rating and set a $195.00 target price on shares of Alphabet in a report on Wednesday, May 15th. Barclays boosted their price objective on shares of Alphabet from $173.00 to $200.00 and gave the company an “overweight” rating in a research report on Friday, April 26th. Finally, Bank of America reaffirmed a “buy” rating and issued a $200.00 target price on shares of Alphabet in a research report on Tuesday, June 11th. Five research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and an average target price of $193.69.

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.