Eagle Bay Advisors LLC Has $2.01 Million Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Eagle Bay Advisors LLC trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 7.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,598 shares of the information services provider’s stock after selling 826 shares during the period. Alphabet accounts for approximately 1.3% of Eagle Bay Advisors LLC’s investment portfolio, making the stock its 15th biggest position. Eagle Bay Advisors LLC’s holdings in Alphabet were worth $2,006,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. LMR Partners LLP bought a new stake in Alphabet during the third quarter worth about $32,000. Denver PWM LLC acquired a new stake in Alphabet during the 2nd quarter valued at approximately $41,000. Quarry LP bought a new position in shares of Alphabet during the 2nd quarter worth approximately $53,000. Teachers Insurance & Annuity Association of America bought a new position in shares of Alphabet during the 3rd quarter worth approximately $66,000. Finally, Mendota Financial Group LLC boosted its holdings in shares of 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 buying an additional 64 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Wells Fargo & Company increased their target price on Alphabet from $187.00 to $190.00 and gave the stock an “equal weight” rating in a report on Monday. Royal Bank of Canada raised their target price on Alphabet from $204.00 to $210.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Wedbush raised their target price on Alphabet from $210.00 to $220.00 and gave the company an “outperform” rating in a research report on Monday, January 6th. Wolfe Research raised their target price on Alphabet from $220.00 to $230.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Finally, Truist Financial raised their target price on Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Nine analysts have rated the stock with a hold rating, thirty have given a buy rating and four have given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $208.15.

Alphabet Stock Down 1.4 %

GOOGL stock traded down $2.77 during midday trading on Monday, hitting $189.27. The stock had a trading volume of 9,460,828 shares, compared to its average volume of 22,216,131. The firm has a market cap of $2.32 trillion, a price-to-earnings ratio of 25.10, a price-to-earnings-growth ratio of 1.35 and a beta of 0.98. The business has a 50-day moving average of $182.62 and a two-hundred day moving average of $172.95. Alphabet Inc. has a 52-week low of $130.66 and a 52-week high of $201.42. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95.

Alphabet (NASDAQ:GOOGL) last issued 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 for the quarter, compared to analysts’ expectations of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same period in the prior year, the firm earned $1.55 earnings per share. As a group, equities research analysts forecast that Alphabet Inc. will post 8.01 earnings per share for the current fiscal year.

Alphabet Announces Dividend

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

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $166.30, for a total value of $3,741,750.00. Following the sale, the chief executive officer now directly owns 2,106,806 shares of the company’s stock, valued at approximately $350,361,837.80. The trade was a 1.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 1,368 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $191.55, for a total value of $262,040.40. Following the completion of the sale, the chief accounting officer now directly owns 20,681 shares in the company, valued at $3,961,445.55. This trade represents a 6.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 154,387 shares of company stock valued at $27,748,931. 11.55% of the stock is currently owned by corporate insiders.

Alphabet Company 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.