Eagle Capital Management LLC Decreases Stake in Alphabet Inc. (NASDAQ:GOOGL)

Eagle Capital Management LLC decreased its position in Alphabet Inc. (NASDAQ:GOOGL) by 2.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 49,838 shares of the information services provider’s stock after selling 1,007 shares during the period. Alphabet accounts for 0.0% of Eagle Capital Management LLC’s portfolio, making the stock its 8th largest position. Eagle Capital Management LLC’s holdings in Alphabet were worth $9,078,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the company. Tributary Capital Management LLC bought a new position in Alphabet during the first quarter worth about $30,000. CarsonAllaria Wealth Management Ltd. raised its position in shares of Alphabet by 59.2% during the first quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock worth $44,000 after purchasing an additional 109 shares during the period. Richardson Capital Management LLC raised its position in shares of Alphabet by 87.5% during the first quarter. Richardson Capital Management LLC now owns 300 shares of the information services provider’s stock worth $45,000 after purchasing an additional 140 shares during the period. Clear Point Advisors Inc. raised its position in shares of Alphabet by 65.9% during the first quarter. Clear Point Advisors Inc. now owns 375 shares of the information services provider’s stock worth $57,000 after purchasing an additional 149 shares during the period. Finally, Core Wealth Advisors Inc. acquired a new stake in shares of Alphabet during the fourth quarter worth about $70,000. Institutional investors own 40.03% of the company’s stock.

Insider Transactions at Alphabet

In other news, SVP Prabhakar Raghavan sold 34,257 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $162.60, for a total value of $5,570,188.20. Following the completion of the sale, the senior vice president now owns 312,210 shares of the company’s stock, valued at approximately $50,765,346. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $182.84, for a total transaction of $4,113,900.00. Following the completion of the transaction, the chief executive officer now owns 2,204,885 shares of the company’s stock, valued at $403,141,173.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Prabhakar Raghavan sold 34,257 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $162.60, for a total value of $5,570,188.20. Following the transaction, the senior vice president now directly owns 312,210 shares of the company’s stock, valued at $50,765,346. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 217,592 shares of company stock worth $35,922,911. 11.55% of the stock is currently owned by corporate insiders.

Alphabet Stock Performance

Shares of GOOGL opened at $162.98 on Tuesday. The firm has a market cap of $2.01 trillion, a PE ratio of 25.00, a PEG ratio of 1.21 and a beta of 1.04. The stock’s fifty day moving average price is $162.06 and its two-hundred day moving average price is $167.41. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. Alphabet Inc. has a 1 year low of $120.21 and a 1 year high of $191.75.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.04. The company had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $70.60 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. During the same period in the previous year, the business earned $1.44 earnings per share. On average, equities research analysts forecast that Alphabet Inc. will post 7.63 EPS for the current year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date was Monday, September 9th. Alphabet’s payout ratio is currently 12.27%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on GOOGL. Morgan Stanley lowered their price target on Alphabet from $205.00 to $190.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 3rd. Guggenheim boosted their price target on Alphabet from $195.00 to $205.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Mizuho lifted their target price on Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Truist Financial reiterated a “buy” rating and set a $196.00 target price on shares of Alphabet in a research note on Monday, September 16th. Finally, Evercore ISI reduced their target price on Alphabet from $225.00 to $200.00 and set an “outperform” rating for the company in a research note on Monday, September 16th. Eight investment analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $201.14.

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.