Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Evergreen Private Wealth LLC

Evergreen Private Wealth LLC lowered its stake in Alphabet Inc. (NASDAQ:GOOGL) by 0.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 35,156 shares of the information services provider’s stock after selling 217 shares during the period. Alphabet accounts for 3.1% of Evergreen Private Wealth LLC’s portfolio, making the stock its 8th largest position. Evergreen Private Wealth LLC’s holdings in Alphabet were worth $6,655,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also modified their holdings of the company. Compass Planning Associates Inc acquired a new stake in shares of Alphabet in the fourth quarter valued at approximately $30,000. LMR Partners LLP acquired a new stake in shares of Alphabet in the third quarter valued at approximately $32,000. E Fund Management Hong Kong Co. Ltd. increased its holdings in shares of Alphabet by 518.8% in the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock valued at $37,000 after purchasing an additional 166 shares in the last quarter. Fiduciary Advisors Inc. acquired a new stake in shares of Alphabet in the fourth quarter valued at approximately $39,000. Finally, PayPay Securities Corp increased its holdings in shares of Alphabet by 36.1% in the fourth quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock valued at $46,000 after purchasing an additional 65 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on GOOGL. Citigroup lowered their target price on shares of Alphabet from $232.00 to $229.00 and set a “buy” rating for the company in a report on Wednesday, February 5th. Wolfe Research lifted their target price on shares of Alphabet from $220.00 to $230.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Needham & Company LLC reaffirmed a “buy” rating and set a $225.00 target price on shares of Alphabet in a report on Wednesday, February 5th. DA Davidson lifted their target price on shares of Alphabet from $190.00 to $200.00 and gave the stock a “neutral” rating in a report on Friday, January 24th. Finally, Piper Sandler lowered their target price on shares of Alphabet from $210.00 to $208.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. Ten analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $210.59.

Alphabet Trading Up 2.0 %

Alphabet stock opened at $163.89 on Thursday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The firm has a 50-day moving average of $183.75 and a 200-day moving average of $176.47. The company has a market cap of $2.00 trillion, a price-to-earnings ratio of 20.36, a P/E/G ratio of 1.34 and a beta of 1.02. Alphabet Inc. has a one year low of $146.74 and a one year high of $207.05.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. On average, equities analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were issued a $0.20 dividend. The ex-dividend date was Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.49%. Alphabet’s payout ratio is 9.94%.

Insider Activity

In other news, insider John Kent Walker sold 16,820 shares of the company’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $192.62, for a total value of $3,239,868.40. Following the sale, the insider now directly owns 43,981 shares of the company’s stock, valued at approximately $8,471,620.22. This represents a 27.66 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ruth Porat sold 17,690 shares of the stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $183.48, for a total transaction of $3,245,761.20. Following the completion of the transaction, the insider now directly owns 1,449,286 shares in the company, valued at approximately $265,914,995.28. This represents a 1.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 93,048 shares of company stock valued at $17,374,274. 11.55% of the stock is owned by company insiders.

About Alphabet

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.