Evernest Financial Advisors LLC Raises Stake in Alphabet Inc. $GOOG

Evernest Financial Advisors LLC grew its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 3.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,227 shares of the information services provider’s stock after purchasing an additional 357 shares during the quarter. Evernest Financial Advisors LLC’s holdings in Alphabet were worth $1,814,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. RDA Financial Network raised its holdings in Alphabet by 5.3% during the second quarter. RDA Financial Network now owns 11,094 shares of the information services provider’s stock worth $1,968,000 after purchasing an additional 554 shares in the last quarter. Tower View Wealth Management LLC increased its holdings in shares of Alphabet by 6.9% in the 2nd quarter. Tower View Wealth Management LLC now owns 27,644 shares of the information services provider’s stock valued at $4,904,000 after acquiring an additional 1,776 shares during the period. Oldfather Financial Services LLC acquired a new position in shares of Alphabet in the 2nd quarter valued at $213,000. Truist Financial Corp increased its holdings in shares of Alphabet by 0.4% in the 2nd quarter. Truist Financial Corp now owns 3,626,927 shares of the information services provider’s stock valued at $643,381,000 after acquiring an additional 15,065 shares during the period. Finally, GC Wealth Management RIA LLC increased its holdings in shares of Alphabet by 115.7% in the 2nd quarter. GC Wealth Management RIA LLC now owns 214,392 shares of the information services provider’s stock valued at $38,031,000 after acquiring an additional 115,003 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on GOOG. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Alphabet in a report on Wednesday, October 8th. Scotiabank reaffirmed an “outperform” rating and issued a $310.00 target price on shares of Alphabet in a report on Thursday. BNP Paribas cut shares of Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, June 26th. Mizuho raised shares of Alphabet to a “strong-buy” rating in a report on Monday, September 29th. Finally, KeyCorp set a $265.00 target price on shares of Alphabet in a report on Wednesday, September 3rd. Six research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus price target of $244.68.

Insider Activity at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 953 shares of the business’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $241.20, for a total transaction of $229,863.60. Following the sale, the chief accounting officer directly owned 17,294 shares in the company, valued at approximately $4,171,312.80. The trade was a 5.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction on 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 sale, the chief executive officer owned 2,369,619 shares in the company, valued at $592,760,192.85. The trade was a 1.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 243,372 shares of company stock worth $55,110,740. 12.99% of the stock is currently owned by insiders.

Alphabet Stock Performance

NASDAQ:GOOG opened at $253.79 on Monday. The firm’s fifty day moving average price is $232.18 and its 200 day moving average price is $193.25. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $257.58. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The firm has a market cap of $3.07 trillion, a price-to-earnings ratio of 27.03, a price-to-earnings-growth ratio of 1.72 and a beta of 1.00.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $0.19. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The firm had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.67 billion. During the same period last year, the firm posted $1.89 EPS. Alphabet’s quarterly revenue was up 13.8% on a year-over-year basis. On average, sell-side analysts expect that Alphabet Inc. will post 8.89 EPS for the current year.

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.