Eagle Ridge Investment Management Has $3.50 Million Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Eagle Ridge Investment Management reduced its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 3.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,007 shares of the information services provider’s stock after selling 789 shares during the period. Eagle Ridge Investment Management’s holdings in Alphabet were worth $3,503,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Bruce G. Allen Investments LLC acquired a new position in shares of Alphabet during the fourth quarter worth $26,000. Partnership Wealth Management LLC acquired a new position in shares of Alphabet during the fourth quarter worth $26,000. Equitec Proprietary Markets LLC acquired a new position in shares of Alphabet during the fourth quarter worth $28,000. DiNuzzo Private Wealth Inc. acquired a new position in shares of Alphabet during the fourth quarter worth $32,000. Finally, Pacific Capital Wealth Advisors Inc. bought a new stake in shares of Alphabet in the fourth quarter worth $34,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total value of $125,126.54. Following the sale, the chief accounting officer now owns 30,650 shares in the company, valued at approximately $5,623,355.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total value of $125,126.54. Following the sale, the chief accounting officer now owns 30,650 shares in the company, valued at approximately $5,623,355.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $157.41, for a total transaction of $3,541,725.00. Following the completion of the sale, the chief executive officer now owns 2,303,011 shares of the company’s stock, valued at approximately $362,516,961.51. The disclosure for this sale can be found here. Insiders have sold 123,788 shares of company stock worth $21,143,403 in the last quarter. Insiders own 12.99% of the company’s stock.

Alphabet Price Performance

GOOG stock opened at $186.61 on Wednesday. The stock has a market capitalization of $2.31 trillion, a PE ratio of 28.62, a price-to-earnings-growth ratio of 1.38 and a beta of 1.05. The company’s 50-day moving average is $174.93 and its 200-day moving average is $156.20. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.15. Alphabet Inc. has a 1 year low of $115.83 and a 1 year high of $187.50.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.51 by $0.38. The company had revenue of $80.54 billion for the quarter, compared to analysts’ expectations of $78.75 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The business’s revenue was up 15.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.17 EPS. Equities research analysts expect that Alphabet Inc. will post 7.6 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a — dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 10th were issued a $0.20 dividend. The ex-dividend date of this dividend was Monday, June 10th. Alphabet’s dividend payout ratio is presently 12.27%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on GOOG. Oppenheimer boosted their price objective on shares of Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research note on Monday, April 8th. Stifel Nicolaus boosted their price objective on shares of Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Morgan Stanley reissued an “overweight” rating and issued a $165.00 price objective on shares of Alphabet in a research note on Thursday, April 11th. Finally, Rosenblatt Securities cut shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective on the stock. in a research note on Friday, June 28th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $167.86.

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.