Alphabet Inc. $GOOGL Position Lifted by Evelyn Partners Investment Management LLP

Evelyn Partners Investment Management LLP raised its stake in Alphabet Inc. (NASDAQ:GOOGL) by 45,399.2% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 876,314 shares of the information services provider’s stock after buying an additional 874,388 shares during the period. Alphabet makes up about 7.7% of Evelyn Partners Investment Management LLP’s investment portfolio, making the stock its 3rd biggest position. Evelyn Partners Investment Management LLP’s holdings in Alphabet were worth $170,916,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. NBZ Investment Advisors LLC grew its stake in Alphabet by 85.7% in the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock worth $30,000 after purchasing an additional 90 shares in the last quarter. Financial Gravity Companies Inc. purchased a new stake in shares of Alphabet in the 2nd quarter worth $31,000. CarsonAllaria Wealth Management Ltd. grew its position in shares of Alphabet by 36.4% during the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider’s stock worth $44,000 after buying an additional 67 shares in the last quarter. MJT & Associates Financial Advisory Group Inc. purchased a new position in shares of Alphabet during the first quarter valued at $50,000. Finally, Christopher J. Hasenberg Inc increased its stake in shares of Alphabet by 77.6% during the second quarter. Christopher J. Hasenberg Inc now owns 348 shares of the information services provider’s stock valued at $61,000 after buying an additional 152 shares during the period. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Price Performance

NASDAQ GOOGL opened at $319.63 on Thursday. The firm’s fifty day simple moving average is $273.22 and its two-hundred day simple moving average is $222.36. The firm has a market capitalization 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. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $328.83.

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

Alphabet Dividend Announcement

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

Insiders Place Their Bets

In other Alphabet news, Director John L. Hennessy sold 600 shares of the business’s stock in a transaction that occurred on Thursday, November 13th. The shares were sold at an average price of $280.06, for a total transaction of $168,036.00. Following the sale, the director owned 4,516 shares of the company’s stock, valued at approximately $1,264,750.96. The trade was a 11.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Amie Thuener O’toole sold 954 shares of the firm’s stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $317.00, for a total transaction of $302,418.00. Following the completion of the transaction, the chief accounting officer directly owned 11,740 shares of the company’s stock, valued at approximately $3,721,580. This represents a 7.52% 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 ninety days. Insiders own 11.64% of the company’s stock.

Wall Street Analyst Weigh In

GOOGL has been the topic of several recent research reports. Truist Financial increased their target price on shares of Alphabet from $285.00 to $320.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. UBS Group reiterated a “neutral” rating and set a $306.00 price objective (up from $255.00) on shares of Alphabet in a research note on Thursday, October 30th. BNP Paribas Exane assumed coverage on shares of Alphabet in a report on Monday, November 24th. They set an “outperform” rating and a $355.00 price objective on the stock. Needham & Company LLC upped their target price on Alphabet from $260.00 to $330.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Finally, Wedbush reaffirmed an “outperform” rating and set a $320.00 target price (up previously from $245.00) on shares of Alphabet in a research report on Thursday, October 30th. Four investment analysts have rated the stock with a Strong Buy rating, forty-one have given a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus target price of $312.06.

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.