Eagle Bay Advisors LLC Reduces Stake in Alphabet Inc. (NASDAQ:GOOG)

Eagle Bay Advisors LLC cut its position in Alphabet Inc. (NASDAQ:GOOG) by 6.3% in the fourth quarter, Holdings Channel reports. The firm owned 8,369 shares of the information services provider’s stock after selling 567 shares during the period. Alphabet accounts for approximately 1.0% of Eagle Bay Advisors LLC’s holdings, making the stock its 20th biggest position. Eagle Bay Advisors LLC’s holdings in Alphabet were worth $1,594,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Weiss Asset Management LP acquired a new stake in shares of Alphabet in the 3rd quarter valued at about $25,000. Abich Financial Wealth Management LLC lifted its position in Alphabet by 9,200.0% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock worth $34,000 after acquiring an additional 184 shares during the period. Safe Harbor Fiduciary LLC acquired a new stake in Alphabet during the 3rd quarter worth approximately $33,000. HWG Holdings LP acquired a new stake in Alphabet during the 2nd quarter worth approximately $40,000. Finally, Sanctuary Wealth Management L.L.C. lifted its position in Alphabet by 87.3% during the 3rd quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock worth $42,000 after acquiring an additional 117 shares during the period. 27.26% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 2,834 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $167.23, for a total transaction of $473,929.82. Following the sale, the chief accounting officer now owns 26,349 shares in the company, valued at $4,406,343.27. This trade represents a 9.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kavitark Ram Shriram sold 37,134 shares of the firm’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total value of $6,870,532.68. Following the sale, the director now owns 282,832 shares in the company, valued at $52,329,576.64. This trade represents a 11.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 154,387 shares of company stock worth $27,748,931 over the last quarter. 12.99% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms have weighed in on GOOG. Wells Fargo & Company increased their price objective on Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Seaport Res Ptn raised Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. JPMorgan Chase & Co. increased their target price on Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Scotiabank started coverage on Alphabet in a research note on Friday, October 11th. They set a “sector outperform” rating and a $212.00 target price for the company. Finally, Jefferies Financial Group increased their target price on Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Six equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $200.56.

Alphabet Price Performance

Alphabet stock traded down $2.70 during mid-day trading on Monday, hitting $190.47. 6,194,589 shares of the company were exchanged, compared to its average volume of 15,394,130. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The business’s 50 day simple moving average is $184.12 and its two-hundred day simple moving average is $174.45. The company has a market capitalization of $2.33 trillion, a P/E ratio of 25.26, a PEG ratio of 1.34 and a beta of 0.99. Alphabet Inc. has a 12-month low of $131.55 and a 12-month high of $202.88.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.29. The company had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. Alphabet’s revenue was up 15.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.55 earnings per share. Analysts forecast that Alphabet Inc. will post 8.02 earnings per share for the current fiscal year.

Alphabet Announces Dividend

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

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.