Alphabet Inc. (NASDAQ:GOOGL) Stock Position Raised by Eaton Vance Management

Eaton Vance Management grew its stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 1,928.8% during the 3rd quarter, HoldingsChannel reports. The fund owned 11,030,947 shares of the information services provider’s stock after buying an additional 10,487,231 shares during the period. Alphabet comprises 1.6% of Eaton Vance Management’s portfolio, making the stock its 6th biggest holding. Eaton Vance Management’s holdings in Alphabet were worth $1,055,110,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. IAG Wealth Partners LLC raised its position in shares of Alphabet by 3,275.0% in the third quarter. IAG Wealth Partners LLC now owns 270 shares of the information services provider’s stock worth $26,000 after buying an additional 262 shares in the last quarter. Artemis Wealth Advisors LLC raised its position in shares of Alphabet by 1,900.0% in the third quarter. Artemis Wealth Advisors LLC now owns 280 shares of the information services provider’s stock worth $27,000 after buying an additional 266 shares in the last quarter. Laurel Wealth Planning LLC raised its position in shares of Alphabet by 1,900.0% in the third quarter. Laurel Wealth Planning LLC now owns 300 shares of the information services provider’s stock worth $29,000 after buying an additional 285 shares in the last quarter. Coston McIsaac & Partners raised its position in shares of Alphabet by 1,900.0% in the third quarter. Coston McIsaac & Partners now owns 320 shares of the information services provider’s stock worth $30,000 after buying an additional 304 shares in the last quarter. Finally, Horizons Wealth Management purchased a new stake in shares of Alphabet in the second quarter worth $33,000. Hedge funds and other institutional investors own 34.06% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $90.63 on Monday. Alphabet Inc. has a twelve month low of $83.34 and a twelve month high of $143.79. The firm has a market cap of $1.16 trillion, a P/E ratio of 19.91, a PEG ratio of 1.25 and a beta of 1.09. The company has a 50 day moving average of $94.19 and a 200 day moving average of $96.59. 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 (NASDAQ:GOOGL – Get Rating) last announced its quarterly earnings data on Thursday, February 2nd. The information services provider reported $1.05 earnings per share for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.09). Alphabet had a return on equity of 23.54% and a net margin of 21.20%. The firm had revenue of $76.05 billion during the quarter, compared to analysts’ expectations of $63.15 billion. During the same quarter in the previous year, the firm earned $1.53 earnings per share. As a group, research analysts expect that Alphabet Inc. will post 5.12 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 855 shares of the business’s stock in a transaction that occurred on Wednesday, January 4th. The shares were sold at an average price of $91.15, for a total value of $77,933.25. Following the completion of the transaction, the chief accounting officer now directly owns 25,122 shares in the company, valued at approximately $2,289,870.30. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Alphabet news, CAO Amie Thuener O’toole sold 855 shares of Alphabet stock in a transaction that occurred on Wednesday, January 4th. The shares were sold at an average price of $91.15, for a total value of $77,933.25. Following the completion of the sale, the chief accounting officer now owns 25,122 shares of the company’s stock, valued at approximately $2,289,870.30. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Prabhakar Raghavan sold 22,203 shares of Alphabet stock in a transaction that occurred on Tuesday, January 3rd. The stock was sold at an average price of $89.75, for a total transaction of $1,992,719.25. Following the completion of the sale, the senior vice president now directly owns 76,579 shares of the company’s stock, valued at approximately $6,872,965.25. The disclosure for this sale can be found here. Insiders sold a total of 36,745 shares of company stock worth $3,424,078 in the last three months. Insiders own 11.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on GOOGL shares. Barclays increased their price objective on Alphabet from $150.00 to $160.00 and gave the stock an “overweight” rating in a research report on Friday, February 3rd. Wells Fargo & Company raised their price target on Alphabet from $145.00 to $150.00 and gave the company an “overweight” rating in a research report on Friday, February 3rd. Morgan Stanley raised their price target on Alphabet from $125.00 to $135.00 and gave the company an “overweight” rating in a research report on Friday, February 3rd. Tigress Financial lowered their price target on Alphabet from $186.00 to $160.00 and set a “strong-buy” rating on the stock in a research report on Friday, January 6th. Finally, Roth Capital restated a “buy” rating on shares of Alphabet in a research report on Friday, February 3rd. Five investment analysts have rated the stock with a hold rating, thirty-three have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $132.32.

Alphabet Profile

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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.