Eagle Capital Management LLC Sells 77 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Eagle Capital Management LLC lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.2% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 49,761 shares of the information services provider’s stock after selling 77 shares during the quarter. Alphabet accounts for about 3.4% of Eagle Capital Management LLC’s investment portfolio, making the stock its 9th largest holding. Eagle Capital Management LLC’s holdings in Alphabet were worth $8,253,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Christopher J. Hasenberg Inc lifted its stake in shares of Alphabet by 75.0% during the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after purchasing an additional 60 shares in the last quarter. Tributary Capital Management LLC acquired a new position in Alphabet during the 1st quarter worth approximately $30,000. Kings Path Partners LLC acquired a new position in Alphabet during the 2nd quarter worth approximately $36,000. Denver PWM LLC acquired a new stake in Alphabet in the second quarter valued at approximately $41,000. Finally, CarsonAllaria Wealth Management Ltd. raised its stake 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 valued at $44,000 after purchasing an additional 109 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of several analyst reports. Mizuho upped their target price on shares of Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Wells Fargo & Company upped their price objective on shares of Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research report on Wednesday. KeyCorp boosted their price target on Alphabet from $200.00 to $215.00 and gave the stock an “overweight” rating in a research note on Wednesday. Rosenblatt Securities restated a “neutral” rating and set a $181.00 price objective on shares of Alphabet in a research note on Wednesday, July 24th. Finally, Scotiabank raised Alphabet to a “strong-buy” rating in a research report on Friday, October 11th. Seven research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $205.51.

Alphabet Stock Up 2.8 %

GOOGL opened at $174.46 on Thursday. 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 12 month low of $122.68 and a 12 month high of $191.75. The stock’s 50 day moving average price is $162.17 and its 200 day moving average price is $168.78. The stock has a market cap of $2.16 trillion, a P/E ratio of 26.76, a P/E/G ratio of 1.27 and a beta of 1.04.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The business had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $72.85 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same period in the previous year, the business earned $1.55 earnings per share. As a group, research analysts predict that Alphabet Inc. will post 7.65 earnings per share for the current year.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total value of $3,652,875.00. Following the completion of the sale, the chief executive officer now directly owns 2,182,385 shares in the company, valued at $354,310,204.75. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $162.35, for a total value of $3,652,875.00. Following the transaction, the chief executive officer now owns 2,182,385 shares of the company’s stock, valued at $354,310,204.75. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director John L. Hennessy sold 1,500 shares of the stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $164.95, for a total transaction of $247,425.00. Following the sale, the director now directly owns 26,324 shares of the company’s stock, valued at approximately $4,342,143.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 220,426 shares of company stock worth $35,993,340. 11.55% of the stock is owned by corporate insiders.

Alphabet Profile

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.