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

Eagle Ridge Investment Management cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.9% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm 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 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Towerpoint Wealth LLC boosted its position in shares of Alphabet by 44.3% during the first quarter. Towerpoint Wealth LLC now owns 6,777 shares of the information services provider’s stock valued at $1,032,000 after purchasing an additional 2,079 shares in the last quarter. Cypress Wealth Services LLC lifted its position in 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 period. Hengehold Capital Management LLC boosted its holdings in shares of Alphabet by 17.7% during the 1st quarter. Hengehold Capital Management LLC now owns 5,019 shares of the information services provider’s stock valued at $764,000 after buying an additional 753 shares in the last quarter. Fifth Third Wealth Advisors LLC grew its position in shares of Alphabet by 46.5% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 21,531 shares of the information services provider’s stock worth $3,278,000 after buying an additional 6,831 shares during the period. Finally, Courier Capital LLC increased its stake in shares of Alphabet by 0.7% in the 1st quarter. Courier Capital LLC now owns 92,502 shares of the information services provider’s stock worth $14,084,000 after acquiring an additional 636 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on GOOG shares. Pivotal Research started coverage on shares of Alphabet in a report on Tuesday, October 1st. They issued a “buy” rating and a $215.00 price objective on the stock. Scotiabank initiated coverage on Alphabet in a research report on Friday, October 11th. They set a “sector outperform” rating and a $212.00 price objective for the company. Oppenheimer dropped their target price on Alphabet from $210.00 to $185.00 and set an “outperform” rating on the stock in a report on Wednesday, September 25th. UBS Group reduced their price target on Alphabet from $204.00 to $187.00 and set a “neutral” rating for the company in a report on Monday, October 7th. Finally, Cantor Fitzgerald upgraded shares of Alphabet to a “hold” rating in a research note on Thursday, September 5th. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and an average price target of $186.90.

Alphabet Price Performance

GOOG opened at $166.99 on Friday. The company’s 50-day simple moving average is $163.31 and its two-hundred day simple moving average is $169.88. Alphabet Inc. has a 52-week low of $121.46 and a 52-week high of $193.31. The stock has a market capitalization of $2.06 trillion, a P/E ratio of 25.61, a P/E/G ratio of 1.21 and a beta of 1.04. 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:GOOG) last posted its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. The business had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $84.22 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The firm’s revenue was up 13.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.44 EPS. As a group, analysts predict that Alphabet Inc. will post 7.64 EPS for the current year.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $168.00, for a total value of $114,576.00. Following the transaction, the chief accounting officer now owns 31,334 shares of the company’s stock, valued at approximately $5,264,112. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total value of $3,652,875.00. Following the transaction, the chief executive officer now directly owns 2,182,385 shares of the company’s stock, valued at approximately $354,310,204.75. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $168.00, for a total value of $114,576.00. Following the sale, the chief accounting officer now directly owns 31,334 shares of the company’s stock, valued at $5,264,112. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 220,426 shares of company stock valued at $35,993,340 over the last 90 days. Company insiders own 12.99% of the company’s stock.

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.