Eagle Bay Advisors LLC Sells 826 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Eagle Bay Advisors LLC reduced its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 7.2% during the fourth quarter, HoldingsChannel reports. The firm owned 10,598 shares of the information services provider’s stock after selling 826 shares during the period. Alphabet comprises 1.3% of Eagle Bay Advisors LLC’s portfolio, making the stock its 15th biggest holding. Eagle Bay Advisors LLC’s holdings in Alphabet were worth $2,006,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Denver PWM LLC grew its holdings in Alphabet by 25.4% during the 3rd quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock valued at $47,000 after purchasing an additional 57 shares in the last quarter. First PREMIER Bank grew its holdings in Alphabet by 3.8% during the 3rd quarter. First PREMIER Bank now owns 1,655 shares of the information services provider’s stock valued at $275,000 after purchasing an additional 61 shares in the last quarter. Cutler Investment Counsel LLC grew its holdings in Alphabet by 1.7% during the 3rd quarter. Cutler Investment Counsel LLC now owns 3,663 shares of the information services provider’s stock worth $607,000 after acquiring an additional 61 shares in the last quarter. MKT Advisors LLC grew its holdings in Alphabet by 0.8% during the 3rd quarter. MKT Advisors LLC now owns 7,363 shares of the information services provider’s stock worth $1,221,000 after acquiring an additional 62 shares in the last quarter. Finally, Mendota Financial Group LLC grew its holdings in Alphabet by 19.0% during the 3rd quarter. Mendota Financial Group LLC now owns 401 shares of the information services provider’s stock worth $67,000 after acquiring an additional 64 shares in the last quarter. 40.03% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Seaport Res Ptn raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Citizens Jmp lowered shares of Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Evercore ISI raised their price objective on shares of Alphabet from $200.00 to $205.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Sanford C. Bernstein raised their price objective on shares of Alphabet from $180.00 to $185.00 and gave the stock a “market perform” rating in a report on Wednesday, October 30th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $190.00 price target on shares of Alphabet in a report on Wednesday, October 30th. Nine analysts have rated the stock with a hold rating, thirty have issued a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus price target of $208.15.

Insider Buying and Selling

In other Alphabet news, insider John Kent Walker sold 16,820 shares of Alphabet stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $192.62, for a total value of $3,239,868.40. Following the transaction, the insider now owns 43,981 shares of the company’s stock, valued at approximately $8,471,620.22. The trade was a 27.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 2,834 shares of Alphabet stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $167.23, for a total transaction of $473,929.82. Following the completion of the transaction, the chief accounting officer now directly owns 26,349 shares in the company, valued at approximately $4,406,343.27. The trade was a 9.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 154,387 shares of company stock valued at $27,748,931 in the last 90 days. 11.55% of the stock is owned by insiders.

Alphabet Price Performance

GOOGL traded down $2.77 during midday trading on Monday, hitting $189.27. The company had a trading volume of 9,460,828 shares, compared to its average volume of 22,216,131. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The company has a market capitalization of $2.32 trillion, a PE ratio of 25.10, a P/E/G ratio of 1.35 and a beta of 0.98. Alphabet Inc. has a twelve month low of $130.66 and a twelve month high of $201.42. The firm’s 50-day simple moving average is $182.62 and its 200-day simple moving average is $172.95.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.29. The company had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same quarter last year, the firm earned $1.55 EPS. Equities research analysts predict that Alphabet Inc. will post 8.01 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 9th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.42%. The ex-dividend date was Monday, December 9th. Alphabet’s payout ratio is 10.61%.

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.