Evermay Wealth Management LLC Cuts Stock Holdings in Alphabet Inc. $GOOGL

Evermay Wealth Management LLC lessened its stake in Alphabet Inc. (NASDAQ:GOOGL) by 1.4% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 35,858 shares of the information services provider’s stock after selling 522 shares during the quarter. Alphabet makes up about 0.8% of Evermay Wealth Management LLC’s portfolio, making the stock its 20th biggest holding. Evermay Wealth Management LLC’s holdings in Alphabet were worth $6,319,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Guardian Wealth Management Inc. increased its holdings in Alphabet by 242.9% in the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock worth $26,000 after acquiring an additional 119 shares in the last quarter. IMA Advisory Services Inc. purchased a new stake in Alphabet in the 1st quarter worth $28,000. von Borstel & Associates Inc. purchased a new stake in Alphabet in the 1st quarter worth $28,000. NBZ Investment Advisors LLC increased its holdings in Alphabet by 85.7% in the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock worth $30,000 after acquiring an additional 90 shares in the last quarter. Finally, CarsonAllaria Wealth Management Ltd. increased its holdings in Alphabet by 36.4% in the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider’s stock worth $44,000 after acquiring an additional 67 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Trading Up 2.5%

Shares of GOOGL opened at $281.48 on Friday. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $291.59. The firm has a 50-day moving average price of $242.49 and a 200 day moving average price of $198.83. The firm has a market capitalization of $3.40 trillion, a P/E ratio of 27.76, a P/E/G ratio of 1.86 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The firm had revenue of $102.35 billion during the quarter, compared to analyst estimates of $99.90 billion. Sell-side analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Analysts Set New Price Targets

Several brokerages recently commented on GOOGL. The Goldman Sachs Group boosted their price target on shares of Alphabet from $288.00 to $330.00 and gave the stock a “buy” rating in a report on Thursday. Stifel Nicolaus set a $333.00 target price on shares of Alphabet in a research note on Thursday. JMP Securities reaffirmed a “market outperform” rating and set a $290.00 target price on shares of Alphabet in a research note on Wednesday, October 22nd. Wedbush reaffirmed an “outperform” rating and set a $320.00 target price (up previously from $245.00) on shares of Alphabet in a research note on Thursday. Finally, Truist Financial lifted their target price on shares of Alphabet from $285.00 to $320.00 and gave the stock a “buy” rating in a research note on Thursday. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus target price of $301.32.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 2,778 shares of the company’s stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $250.05, for a total value of $694,638.90. Following the completion of the sale, the chief accounting officer owned 14,516 shares of the company’s stock, valued at approximately $3,629,725.80. This represents a 16.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $250.15, for a total transaction of $8,129,875.00. Following the transaction, the chief executive officer directly owned 2,369,619 shares of the company’s stock, valued at approximately $592,760,192.85. This trade represents a 1.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 246,150 shares of company stock valued at $55,805,379 in the last three months. 11.64% of the stock is currently owned by corporate 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.