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Evergreen Wealth Management LLC lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 4.1% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 29,197 shares of the information services provider’s stock after selling 1,255 shares during the period. Alphabet accounts for approximately 2.7% of Evergreen Wealth Management LLC’s holdings, making the stock its 14th biggest position. Evergreen Wealth Management LLC’s holdings in Alphabet were worth $4,515,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of the business. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group grew its position in shares of Alphabet by 101.4% during the 1st quarter. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group now owns 65,540 shares of the information services provider’s stock valued at $10,135,000 after buying an additional 33,000 shares during the last quarter. Jennison Associates LLC grew its position in shares of Alphabet by 1.5% during the 1st quarter. Jennison Associates LLC now owns 16,469,948 shares of the information services provider’s stock valued at $2,546,913,000 after buying an additional 240,451 shares during the last quarter. Markel Group Inc. grew its position in shares of Alphabet by 0.4% during the 1st quarter. Markel Group Inc. now owns 557,000 shares of the information services provider’s stock valued at $86,134,000 after buying an additional 2,000 shares during the last quarter. Sachetta LLC boosted its stake in Alphabet by 46.9% during the 1st quarter. Sachetta LLC now owns 4,482 shares of the information services provider’s stock valued at $693,000 after purchasing an additional 1,431 shares during the period. Finally, Mystic Asset Management Inc. boosted its stake in Alphabet by 6.7% during the 1st quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider’s stock valued at $4,400,000 after purchasing an additional 1,791 shares during the period. Institutional investors own 40.03% of the company’s stock.
Alphabet Stock Up 0.5%
Alphabet stock opened at $193.18 on Friday. The firm has a market cap of $2.34 trillion, a PE ratio of 20.57, a P/E/G ratio of 1.33 and a beta of 1.00. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.77 and a current ratio of 1.90. The firm’s 50 day moving average price is $175.77 and its two-hundred day moving average price is $173.08. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $207.05.
Alphabet (NASDAQ:GOOGL – Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.79. The firm had revenue of $76.49 billion for the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. During the same quarter in the prior year, the business earned $1.89 EPS. On average, research analysts predict that Alphabet Inc. will post 8.9 EPS for the current fiscal year.
Alphabet Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be paid a $0.21 dividend. The ex-dividend date is Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.43%. Alphabet’s dividend payout ratio is presently 8.95%.
Wall Street Analyst Weigh In
A number of research analysts have issued reports on the stock. Mizuho reduced their target price on shares of Alphabet from $230.00 to $205.00 and set an “outperform” rating for the company in a research note on Wednesday, April 9th. BNP Paribas Exane reissued a “neutral” rating and set a $172.00 target price on shares of Alphabet in a research note on Friday, June 27th. Westpark Capital boosted their target price on shares of Alphabet from $210.00 to $220.00 and gave the company a “buy” rating in a research note on Thursday. Sanford C. Bernstein boosted their target price on shares of Alphabet from $185.00 to $195.00 and gave the company a “market perform” rating in a research note on Tuesday. Finally, Cantor Fitzgerald boosted their target price on shares of Alphabet from $196.00 to $201.00 and gave the company a “neutral” rating in a research note on Thursday. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $211.32.
Get Our Latest Analysis on Alphabet
Insiders Place Their Bets
In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $184.38, for a total value of $5,992,350.00. Following the completion of the sale, the chief executive officer directly owned 2,527,392 shares of the company’s stock, valued at $466,000,536.96. The trade was a 1.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Kavitark Ram Shriram sold 18,566 shares of the business’s stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the completion of the sale, the director directly owned 243,400 shares of the company’s stock, valued at $45,213,984. This represents a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 249,409 shares of company stock valued at $43,523,710 over the last ninety days. Corporate insiders own 11.64% of the company’s stock.
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.
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