Alphabet Inc. $GOOGL is Eagle Capital Management LLC’s 9th Largest Position

Eagle Capital Management LLC cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 49,102 shares of the information services provider’s stock after selling 695 shares during the quarter. Alphabet comprises approximately 3.8% of Eagle Capital Management LLC’s investment portfolio, making the stock its 9th biggest position. Eagle Capital Management LLC’s holdings in Alphabet were worth $8,653,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Guardian Wealth Management Inc. boosted its holdings in Alphabet by 242.9% during the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock valued at $26,000 after acquiring an additional 119 shares during the period. von Borstel & Associates Inc. purchased a new position in Alphabet during the 1st quarter valued at about $28,000. IMA Advisory Services Inc. purchased a new position in Alphabet during the 1st quarter valued at about $28,000. NBZ Investment Advisors LLC boosted its holdings in Alphabet by 85.7% during the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock valued at $30,000 after acquiring an additional 90 shares during the period. Finally, Financial Gravity Asset Management Inc. purchased a new position in Alphabet during the 1st quarter valued at about $39,000. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on GOOGL. Bank of America raised their target price on Alphabet from $210.00 to $217.00 and gave the company a “buy” rating in a report on Thursday, July 24th. Royal Bank Of Canada raised their target price on Alphabet from $220.00 to $260.00 and gave the company an “outperform” rating in a report on Wednesday, September 3rd. Rosenblatt Securities lifted their price objective on Alphabet from $191.00 to $224.00 and gave the company a “neutral” rating in a research note on Wednesday, September 3rd. Robert W. Baird lifted their price objective on Alphabet from $215.00 to $275.00 and gave the company an “outperform” rating in a research note on Monday, September 22nd. Finally, Mizuho set a $295.00 price objective on Alphabet and gave the company an “outperform” rating in a research note on Monday, September 29th. Four research analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and an average price target of $242.98.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $229.73, for a total transaction of $7,466,225.00. Following the transaction, the chief executive officer owned 2,429,892 shares of the company’s stock, valued at $558,219,089.16. The trade was a 1.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Kavitark Ram Shriram sold 18,566 shares of Alphabet stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $3,448,820.16. Following the transaction, the director directly owned 243,400 shares in the company, valued at approximately $45,213,984. This trade represents a 7.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 276,738 shares of company stock valued at $59,135,475 over the last quarter. Company insiders own 11.55% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $245.76 on Wednesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $256.00. The firm has a market capitalization of $2.97 trillion, a PE ratio of 26.17, a price-to-earnings-growth ratio of 1.69 and a beta of 1.00. The stock’s 50-day simple moving average is $223.41 and its 200-day simple moving average is $187.13.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping the consensus estimate of $2.15 by $0.16. The company had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. As a group, equities research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.3%. Alphabet’s payout ratio is 8.95%.

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.