Eldred Rock Partners LLC Has $16.54 Million Position in Alphabet Inc. (NASDAQ:GOOGL)

Eldred Rock Partners LLC cut its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 0.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 87,022 shares of the information services provider’s stock after selling 148 shares during the period. Alphabet accounts for 5.6% of Eldred Rock Partners LLC’s portfolio, making the stock its 2nd largest holding. Eldred Rock Partners LLC’s holdings in Alphabet were worth $16,544,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. LMR Partners LLP purchased a new stake in Alphabet in the 3rd quarter worth approximately $32,000. Denver PWM LLC increased its stake in shares of Alphabet by 25.4% in the third quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock worth $47,000 after purchasing an additional 57 shares in the last quarter. Quarry LP purchased a new stake in shares of Alphabet in the second quarter worth $53,000. Teachers Insurance & Annuity Association of America bought a new stake in shares of Alphabet during the 3rd quarter valued at $66,000. Finally, Mendota Financial Group LLC lifted its stake 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 valued at $67,000 after buying an additional 64 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Price Performance

Alphabet stock opened at $198.37 on Thursday. The stock has a market cap of $2.43 trillion, a price-to-earnings ratio of 26.31, a price-to-earnings-growth ratio of 1.26 and a beta of 0.98. The firm has a 50-day moving average of $185.07 and a two-hundred day moving average of $173.38. Alphabet Inc. has a 1 year low of $130.66 and a 1 year high of $202.29. 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 announced its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) 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 quarter in the prior year, the firm earned $1.55 earnings per share. On average, research analysts forecast that Alphabet Inc. will post 8.03 earnings per share for the current year.

Alphabet Dividend Announcement

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 0.40%. Alphabet’s payout ratio is currently 10.61%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Loop Capital raised their price target on Alphabet from $170.00 to $185.00 and gave the company a “hold” rating in a report on Wednesday, November 6th. Phillip Securities raised Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. China Renaissance upgraded Alphabet from a “hold” rating to a “buy” rating in a research note on Thursday, October 31st. Truist Financial increased their price objective on shares of Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, Wolfe Research boosted their target price on shares of Alphabet from $220.00 to $230.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Nine investment 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 data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $208.67.

Insider Buying and Selling

In related news, insider John Kent Walker sold 16,820 shares of Alphabet stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the transaction, the insider now directly owns 43,981 shares of the company’s stock, valued at $8,471,620.22. This trade represents a 27.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Kavitark Ram Shriram sold 37,134 shares of the company’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total value of $6,870,532.68. Following the sale, the director now owns 282,832 shares of the company’s stock, valued at approximately $52,329,576.64. This represents a 11.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 133,387 shares of company stock valued at $24,368,654 over the last three months. 11.55% of the stock is owned by company 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.