Eagle Global Advisors LLC Lowers Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Posted by Defense World Staff on May 11th, 2023

Eagle Global Advisors LLC trimmed its position in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 2.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 315,245 shares of the information services provider’s stock after selling 7,331 shares during the period. Alphabet makes up about 1.9% of Eagle Global Advisors LLC’s holdings, making the stock its 14th biggest position. Eagle Global Advisors LLC’s holdings in Alphabet were worth $27,814,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Capital Advisors Ltd. LLC raised its stake in shares of Alphabet by 10.2% during the 4th quarter. Capital Advisors Ltd. LLC now owns 4,040 shares of the information services provider’s stock worth $155,000 after buying an additional 375 shares during the last quarter. Cassaday & Co Wealth Management LLC acquired a new position in Alphabet in the 4th quarter valued at about $1,886,000. Insight 2811 Inc. raised its stake in Alphabet by 7.9% in the 4th quarter. Insight 2811 Inc. now owns 2,782 shares of the information services provider’s stock valued at $245,000 after purchasing an additional 204 shares during the last quarter. TrinityPoint Wealth LLC grew its holdings in Alphabet by 1.3% in the 4th quarter. TrinityPoint Wealth LLC now owns 59,387 shares of the information services provider’s stock valued at $5,240,000 after buying an additional 785 shares during the period. Finally, Toronto Dominion Bank grew its holdings in Alphabet by 17.5% in the 4th quarter. Toronto Dominion Bank now owns 4,325,897 shares of the information services provider’s stock valued at $381,462,000 after buying an additional 643,481 shares during the period. Institutional investors and hedge funds own 34.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on GOOGL shares. Royal Bank of Canada boosted their target price on Alphabet from $130.00 to $132.00 in a report on Wednesday, April 26th. MKM Partners upped their price target on Alphabet from $120.00 to $126.00 in a report on Friday, February 3rd. UBS Group upped their target price on Alphabet from $120.00 to $123.00 and gave the company a “buy” rating in a research report on Thursday, April 6th. Raymond James upped their price target on Alphabet from $119.00 to $130.00 and gave the company an “outperform” rating in a research report on Wednesday, April 26th. Finally, JMP Securities reissued a “market outperform” rating and set a $132.00 price target on shares of Alphabet in a research report on Thursday, March 16th. Three equities research analysts have rated the stock with a hold rating, thirty-five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $130.06.

Insider Transactions at Alphabet

In related news, major shareholder 2019 Gp L.L.C. Gv sold 100,772 shares of the company’s stock in a transaction that occurred on Monday, May 8th. The stock was sold at an average price of $14.13, for a total value of $1,423,908.36. Following the transaction, the insider now owns 11,421,476 shares in the company, valued at $161,385,455.88. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, major shareholder 2021 Gp L.L.C. Gv bought 415,000 shares of the company’s stock in a transaction on Monday, March 13th. The shares were purchased at an average price of $29.29 per share, for a total transaction of $12,155,350.00. Following the completion of the transaction, the insider now directly owns 1,709,527 shares in the company, valued at approximately $50,072,045.83. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder 2019 Gp L.L.C. Gv sold 100,772 shares of the stock in a transaction on Monday, May 8th. The stock was sold at an average price of $14.13, for a total value of $1,423,908.36. Following the sale, the insider now owns 11,421,476 shares in the company, valued at approximately $161,385,455.88. The disclosure for this sale can be found here. In the last 90 days, insiders have acquired 732,217 shares of company stock worth $21,135,371 and have sold 238,811 shares worth $15,576,939. Company insiders own 11.44% of the company’s stock.

Alphabet Stock Performance

Shares of GOOGL opened at $111.75 on Thursday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.32 and a current ratio of 2.35. The stock has a 50 day moving average price of $102.74 and a two-hundred day moving average price of $97.05. The firm has a market capitalization of $1.42 trillion, a P/E ratio of 24.89, a P/E/G ratio of 1.35 and a beta of 1.10. Alphabet Inc. has a 52 week low of $83.34 and a 52 week high of $122.43.

Alphabet (NASDAQ:GOOGL – Get Rating) last issued its quarterly earnings data on Tuesday, April 25th. The information services provider reported $1.17 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.11. The firm had revenue of $69.79 billion during the quarter, compared to analyst estimates of $57.19 billion. Alphabet had a return on equity of 22.84% and a net margin of 20.58%. During the same period in the previous year, the company posted $1.23 EPS. Equities analysts forecast that Alphabet Inc. will post 5.39 earnings per share for the current fiscal year.

Alphabet Profile

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Alphabet, Inc engages in the business of delivering online advertising, cloud-based solutions that provide enterprise customers with infrastructure and platform services, the provision of communication and collaboration tools, and sales of other products and services such as apps and in-app purchases, hardware, and subscription-based products.

Eagle Global Advisors LLC Lowers Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Analyst Upgrades and Downgrades

Insider Transactions at Alphabet

Alphabet Stock Performance

Alphabet Profile

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