Eagle Bay Advisors LLC Boosts Position in Alphabet Inc. (NASDAQ:GOOGL)

Eagle Bay Advisors LLC increased its position in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 1,434.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,434 shares of the information services provider’s stock after purchasing an additional 9,754 shares during the period. Eagle Bay Advisors LLC’s holdings in Alphabet were worth $999,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Alphabet by 1,919.4% in the third quarter. Vanguard Group Inc. now owns 477,035,902 shares of the information services provider’s stock valued at $45,628,484,000 after acquiring an additional 453,413,389 shares during the period. State Street Corp increased its position in Alphabet by 1,900.6% in the third quarter. State Street Corp now owns 217,154,306 shares of the information services provider’s stock worth $20,770,809,000 after buying an additional 206,300,042 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in Alphabet by 1,759.2% in the third quarter. Price T Rowe Associates Inc. MD now owns 116,116,066 shares of the information services provider’s stock worth $11,106,502,000 after buying an additional 109,870,525 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in Alphabet by 1,955.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 61,134,061 shares of the information services provider’s stock worth $5,847,474,000 after buying an additional 58,159,150 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in Alphabet by 1,896.9% in the third quarter. Bank of New York Mellon Corp now owns 58,060,946 shares of the information services provider’s stock worth $5,553,529,000 after buying an additional 55,153,448 shares in the last quarter. 34.06% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

GOOGL has been the subject of a number of analyst reports. JMP Securities restated a “market outperform” rating and issued a $132.00 price target on shares of Alphabet in a research report on Thursday. MKM Partners increased their target price on Alphabet from $120.00 to $126.00 in a research report on Friday, February 3rd. Loop Capital increased their price target on Alphabet from $120.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, February 8th. Credit Suisse Group dropped their price target on Alphabet from $145.00 to $136.00 and set an “outperform” rating for the company in a research note on Friday, February 3rd. Finally, Mizuho lowered their price objective on Alphabet from $140.00 to $135.00 and set a “buy” rating for the company in a research note on Wednesday, November 30th. Five equities research analysts have rated the stock with a hold rating, thirty-three have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $132.32.

Alphabet Price Performance

Shares of Alphabet stock opened at $100.32 on Friday. The company has a quick ratio of 2.34, a current ratio of 2.38 and a debt-to-equity ratio of 0.06. Alphabet Inc. has a twelve month low of $83.34 and a twelve month high of $143.79. The business has a 50-day moving average price of $94.79 and a 200 day moving average price of $96.32. The firm has a market cap of $1.28 trillion, a PE ratio of 22.04, a P/E/G ratio of 1.26 and a beta of 1.09.

Alphabet (NASDAQ:GOOGL – Get Rating) last posted its quarterly earnings results on Thursday, February 2nd. The information services provider reported $1.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.09). Alphabet had a net margin of 21.20% and a return on equity of 23.54%. The company had revenue of $76.05 billion during the quarter, compared to analysts’ expectations of $63.15 billion. During the same quarter last year, the company earned $1.53 earnings per share. Sell-side analysts predict that Alphabet Inc. will post 5.12 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Alphabet news, Director Kavitark Ram Shriram sold 37,500 shares of the company’s stock in a transaction on Thursday, March 16th. The stock was sold at an average price of $100.00, for a total transaction of $3,750,000.00. Following the transaction, the director now directly owns 144,740 shares in the company, valued at $14,474,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider John Kent Walker sold 11,313 shares of the stock in a transaction on Monday, January 23rd. The stock was sold at an average price of $100.00, for a total value of $1,131,300.00. Following the sale, the insider now directly owns 41,970 shares in the company, valued at $4,197,000. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Kavitark Ram Shriram sold 37,500 shares of the stock in a transaction on Thursday, March 16th. The shares were sold at an average price of $100.00, for a total value of $3,750,000.00. Following the completion of the sale, the director now owns 144,740 shares in the company, valued at $14,474,000. The disclosure for this sale can be found here. Insiders have sold 74,245 shares of company stock worth $7,174,078 over the last ninety days. Corporate insiders own 11.44% of the company’s stock.

About Alphabet

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Alphabet, Inc engages in the business of delivering online advertising, cloud-based solutions that provide enterprise customers with infrastructure and platform services, the provision of communication and collaboration tools, and sales of other products and services such as apps and in-app purchases, hardware, and subscription-based products.