Eagle Ridge Investment Management Sells 432 Shares of Alphabet Inc. (NASDAQ:GOOG)

Eagle Ridge Investment Management decreased its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.9% during the third quarter, Holdings Channel reports. The institutional investor owned 22,788 shares of the information services provider’s stock after selling 432 shares during the period. Eagle Ridge Investment Management’s holdings in Alphabet were worth $3,810,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. Towerpoint Wealth LLC boosted its stake in Alphabet by 44.3% in the 1st quarter. Towerpoint Wealth LLC now owns 6,777 shares of the information services provider’s stock worth $1,032,000 after purchasing an additional 2,079 shares during the period. Cypress Wealth Services LLC raised its position in shares of Alphabet by 3.7% during the first quarter. Cypress Wealth Services LLC now owns 16,402 shares of the information services provider’s stock valued at $2,497,000 after buying an additional 586 shares during the last quarter. Hengehold Capital Management LLC lifted its holdings in shares of Alphabet by 17.7% in the first quarter. Hengehold Capital Management LLC now owns 5,019 shares of the information services provider’s stock worth $764,000 after buying an additional 753 shares in the last quarter. Fifth Third Wealth Advisors LLC boosted its position in shares of Alphabet by 46.5% during the first quarter. Fifth Third Wealth Advisors LLC now owns 21,531 shares of the information services provider’s stock worth $3,278,000 after acquiring an additional 6,831 shares during the last quarter. Finally, Courier Capital LLC grew its stake in Alphabet by 0.7% during the first quarter. Courier Capital LLC now owns 92,502 shares of the information services provider’s stock valued at $14,084,000 after acquiring an additional 636 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Analyst Ratings Changes

GOOG has been the topic of several research analyst reports. Rosenblatt Securities cut shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target on the stock. in a research note on Friday, June 28th. UBS Group dropped their price target on Alphabet from $204.00 to $187.00 and set a “neutral” rating for the company in a research note on Monday, October 7th. Wolfe Research raised Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. Scotiabank started coverage on Alphabet in a research report on Friday, October 11th. They set a “sector outperform” rating and a $212.00 target price for the company. Finally, Oppenheimer reduced their price target on shares of Alphabet from $210.00 to $185.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 25th. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and an average price target of $186.90.

Alphabet Trading Up 1.5 %

GOOG stock opened at $166.99 on Friday. Alphabet Inc. has a twelve month low of $121.46 and a twelve month high of $193.31. The stock has a market capitalization of $2.06 trillion, a price-to-earnings ratio of 25.61, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. The firm’s fifty day simple moving average is $163.31 and its two-hundred day simple moving average is $169.88.

Alphabet (NASDAQ:GOOG) last issued 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. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The company had revenue of $84.74 billion for the quarter, compared to the consensus estimate of $84.22 billion. During the same period in the prior year, the firm posted $1.44 EPS. The firm’s revenue was up 13.6% compared to the same quarter last year. As a group, analysts anticipate that Alphabet Inc. will post 7.64 earnings per share for the current year.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total transaction of $114,576.00. Following the completion of the transaction, the chief accounting officer now owns 31,334 shares in the company, valued at $5,264,112. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director John L. Hennessy sold 700 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $165.00, for a total transaction of $115,500.00. Following the transaction, the director now owns 29,324 shares in the company, valued at approximately $4,838,460. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total transaction of $114,576.00. Following the completion of the transaction, the chief accounting officer now directly owns 31,334 shares of the company’s stock, valued at $5,264,112. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 220,426 shares of company stock worth $35,993,340. 12.99% of the stock is currently owned by company insiders.

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.