Evelyn Partners Asset Management Ltd Boosts Position in Alphabet Inc. $GOOGL

Evelyn Partners Asset Management Ltd increased its stake in Alphabet Inc. (NASDAQ:GOOGL) by 139,381.7% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 160,404 shares of the information services provider’s stock after acquiring an additional 160,289 shares during the quarter. Alphabet accounts for approximately 6.8% of Evelyn Partners Asset Management Ltd’s portfolio, making the stock its 4th largest position. Evelyn Partners Asset Management Ltd’s holdings in Alphabet were worth $28,268,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Brighton Jones LLC increased its holdings in shares of Alphabet by 3.9% during the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock valued at $20,886,000 after acquiring an additional 4,110 shares in the last quarter. Revolve Wealth Partners LLC increased its stake in Alphabet by 3.5% during the 4th quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock valued at $2,826,000 after purchasing an additional 506 shares in the last quarter. Smart Money Group LLC increased its stake in Alphabet by 9.4% during the 1st quarter. Smart Money Group LLC now owns 6,181 shares of the information services provider’s stock valued at $956,000 after purchasing an additional 532 shares in the last quarter. United Bank raised its holdings in Alphabet by 2.1% during the first quarter. United Bank now owns 45,084 shares of the information services provider’s stock worth $6,972,000 after buying an additional 910 shares during the last quarter. Finally, Integrated Investment Consultants LLC lifted its stake in shares of Alphabet by 16.4% in the first quarter. Integrated Investment Consultants LLC now owns 27,114 shares of the information services provider’s stock valued at $4,193,000 after buying an additional 3,822 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Stock Up 1.2%

GOOGL stock opened at $319.63 on Thursday. The stock has a market cap of $3.86 trillion, a P/E ratio of 31.52, a P/E/G ratio of 1.82 and a beta of 1.07. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.06. The stock’s fifty day simple moving average is $273.22 and its two-hundred day simple moving average is $222.36. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $328.83.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. The company had revenue of $102.35 billion for the quarter, compared to analysts’ expectations of $99.90 billion. Alphabet had a return on equity of 35.00% and a net margin of 32.23%. Analysts expect that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 8th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Monday, December 8th. Alphabet’s payout ratio is presently 8.28%.

Insider Buying and Selling at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $243.41, for a total value of $7,910,825.00. Following the sale, the chief executive officer owned 2,402,119 shares of the company’s stock, valued at approximately $584,699,785.79. The trade was a 1.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider John Kent Walker sold 17,816 shares of the company’s stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $247.42, for a total value of $4,408,034.72. Following the completion of the transaction, the insider owned 42,985 shares in the company, valued at approximately $10,635,348.70. The trade was a 29.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 193,628 shares of company stock worth $50,942,622 over the last three months. 11.64% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Cantor Fitzgerald boosted their target price on shares of Alphabet from $265.00 to $310.00 and gave the stock a “neutral” rating in a research report on Thursday, October 30th. KeyCorp reissued an “overweight” rating and set a $300.00 price objective (up from $265.00) on shares of Alphabet in a report on Monday, October 27th. Phillip Securities upgraded Alphabet from a “moderate buy” rating to a “strong-buy” rating in a report on Friday, November 7th. Canaccord Genuity Group lifted their target price on Alphabet from $270.00 to $330.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Finally, CIBC increased their price target on Alphabet to $315.00 in a research report on Monday, October 20th. Four analysts have rated the stock with a Strong Buy rating, forty-one have assigned a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $312.06.

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.