Alphabet Inc. (NASDAQ:GOOGL) is Eagle Rock Investment Company LLC’s 5th Largest Position

Eagle Rock Investment Company LLC boosted its position in Alphabet Inc. (NASDAQ:GOOGL) by 5.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 126,008 shares of the information services provider’s stock after buying an additional 6,815 shares during the period. Alphabet makes up approximately 3.5% of Eagle Rock Investment Company LLC’s investment portfolio, making the stock its 5th largest holding. Eagle Rock Investment Company LLC’s holdings in Alphabet were worth $20,898,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of GOOGL. Christopher J. Hasenberg Inc raised its stake in shares of Alphabet by 75.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after buying an additional 60 shares during the last quarter. Kings Path Partners LLC acquired a new stake in Alphabet during the second quarter worth about $36,000. Tributary Capital Management LLC purchased a new position in Alphabet during the first quarter valued at approximately $30,000. Denver PWM LLC acquired a new position in Alphabet in the second quarter valued at approximately $41,000. Finally, Quarry LP purchased a new stake in Alphabet in the 2nd quarter worth approximately $53,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Activity

In other news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $182.84, for a total transaction of $4,113,900.00. Following the completion of the transaction, the chief executive officer now directly owns 2,204,885 shares in the company, valued at $403,141,173.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $182.84, for a total value of $4,113,900.00. Following the completion of the transaction, the chief executive officer now owns 2,204,885 shares in the company, valued at approximately $403,141,173.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Prabhakar Raghavan sold 34,257 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the sale, the senior vice president now owns 312,210 shares in the company, valued at approximately $50,765,346. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 216,092 shares of company stock valued at $35,644,136. Company insiders own 11.55% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on GOOGL shares. Evercore ISI cut their target price on shares of Alphabet from $225.00 to $200.00 and set an “outperform” rating for the company in a report on Monday, September 16th. Wells Fargo & Company cut their price objective on shares of Alphabet from $190.00 to $182.00 and set an “equal weight” rating for the company in a report on Wednesday, October 2nd. JPMorgan Chase & Co. increased their target price on shares of Alphabet from $200.00 to $208.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Citigroup lifted their price target on Alphabet from $190.00 to $212.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Finally, Jefferies Financial Group increased their price target on Alphabet from $215.00 to $220.00 in a research report on Tuesday, July 9th. Eight investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and an average price target of $201.13.

Alphabet Stock Up 1.1 %

GOOGL stock opened at $164.96 on Tuesday. Alphabet Inc. has a one year low of $120.21 and a one year high of $191.75. The firm has a market cap of $2.04 trillion, a PE ratio of 25.30, a PEG ratio of 1.21 and a beta of 1.04. The firm’s 50 day moving average price is $161.49 and its 200-day moving average price is $167.96. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.85 by $0.04. The business had revenue of $84.74 billion for the quarter, compared to analyst estimates of $70.60 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. During the same quarter in the prior year, the company posted $1.44 EPS. On average, equities research analysts anticipate that Alphabet Inc. will post 7.64 EPS for the current year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.48%. The ex-dividend date was Monday, September 9th. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

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.