Eagle Bay Advisors LLC Cuts Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Eagle Bay Advisors LLC cut its holdings in Alphabet Inc. (NASDAQ:GOOG) by 6.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,369 shares of the information services provider’s stock after selling 567 shares during the quarter. Alphabet accounts for 1.0% of Eagle Bay Advisors LLC’s investment portfolio, making the stock its 20th largest position. Eagle Bay Advisors LLC’s holdings in Alphabet were worth $1,594,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. JTC Employer Solutions Trustee Ltd increased its position in shares of Alphabet by 23.3% in the fourth quarter. JTC Employer Solutions Trustee Ltd now owns 54,008 shares of the information services provider’s stock valued at $10,399,000 after buying an additional 10,220 shares in the last quarter. Thomasville National Bank increased its position in shares of Alphabet by 0.9% in the fourth quarter. Thomasville National Bank now owns 301,072 shares of the information services provider’s stock valued at $57,336,000 after buying an additional 2,813 shares in the last quarter. Kieckhefer Group LLC purchased a new stake in shares of Alphabet in the fourth quarter valued at approximately $76,000. Capital Investment Advisors LLC boosted its stake in shares of Alphabet by 5.7% in the fourth quarter. Capital Investment Advisors LLC now owns 32,631 shares of the information services provider’s stock worth $6,214,000 after acquiring an additional 1,748 shares during the last quarter. Finally, ACT Advisors LLC. boosted its stake in shares of Alphabet by 5.8% in the fourth quarter. ACT Advisors LLC. now owns 1,468 shares of the information services provider’s stock worth $280,000 after acquiring an additional 80 shares during the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 37,134 shares of the company’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total transaction 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 represents a 11.61 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Amie Thuener O’toole sold 2,834 shares of the company’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $167.23, for a total value of $473,929.82. Following the sale, the chief accounting officer now owns 26,349 shares in the company, valued at approximately $4,406,343.27. This trade represents a 9.71 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 154,387 shares of company stock worth $27,748,931. 12.99% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. UBS Group lifted their price target on Alphabet from $187.00 to $192.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. lifted their price target on Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Seaport Res Ptn raised Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Oppenheimer lifted their price target on Alphabet from $185.00 to $215.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Finally, Pivotal Research lifted their price target on Alphabet from $215.00 to $225.00 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 given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus target price of $200.56.

Alphabet Trading Down 1.4 %

Shares of Alphabet stock traded down $2.70 during trading hours on Monday, hitting $190.47. The company’s stock had a trading volume of 6,194,589 shares, compared to its average volume of 15,394,130. Alphabet Inc. has a twelve month low of $131.55 and a twelve month high of $202.88. The firm has a fifty day moving average of $184.12 and a 200-day moving average of $174.45. The stock has a market cap of $2.33 trillion, a price-to-earnings ratio of 25.26, a P/E/G ratio of 1.34 and a beta of 0.99. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data 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 firm had revenue of $88.27 billion for 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%. The company’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.55 EPS. Research analysts forecast that Alphabet Inc. will post 8.02 EPS for the current year.

Alphabet Announces Dividend

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