Alphabet Inc. $GOOGL Shares Bought by Evolve Private Wealth LLC

Evolve Private Wealth LLC increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGLFree Report) by 4.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 94,046 shares of the information services provider’s stock after buying an additional 4,287 shares during the quarter. Alphabet comprises approximately 1.4% of Evolve Private Wealth LLC’s portfolio, making the stock its 11th biggest holding. Evolve Private Wealth LLC’s holdings in Alphabet were worth $27,044,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Lifetime Wealth Management P.C. acquired a new stake in shares of Alphabet in the fourth quarter worth approximately $32,000. EMC Capital Management purchased a new position in Alphabet during the fourth quarter worth approximately $33,000. PMV Capital Advisers LLC purchased a new position in Alphabet during the fourth quarter worth approximately $38,000. IFC & Insurance Marketing Inc. acquired a new position in shares of Alphabet in the 4th quarter valued at $38,000. Finally, Bard Associates Inc. acquired a new position in shares of Alphabet in the 4th quarter valued at $52,000. 40.03% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Alphabet

In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $23.75, for a total transaction of $2,077,531.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 617 shares of the firm’s stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $289.63, for a total value of $178,701.71. Following the sale, the chief accounting officer owned 10,093 shares of the company’s stock, valued at approximately $2,923,235.59. This trade represents a 5.76% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 160,516 shares of company stock valued at $7,344,604. 11.61% of the stock is currently owned by insiders.

Alphabet Stock Down 0.3%

Shares of Alphabet stock opened at $345.04 on Thursday. Alphabet Inc. has a twelve month low of $167.55 and a twelve month high of $408.61. The stock has a market cap of $4.18 trillion, a price-to-earnings ratio of 26.32, a price-to-earnings-growth ratio of 1.48 and a beta of 1.23. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.16. The company has a fifty day moving average price of $368.72 and a 200 day moving average price of $332.69.

Alphabet (NASDAQ:GOOGLGet Free Report) last released its quarterly earnings results on Wednesday, April 29th. The information services provider reported $5.11 earnings per share for the quarter, topping analysts’ consensus estimates of $2.64 by $2.47. The firm had revenue of $109.90 billion during the quarter, compared to analysts’ expectations of $106.98 billion. Alphabet had a return on equity of 38.99% and a net margin of 37.92%. Equities research analysts forecast that Alphabet Inc. will post 14.3 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 8th were given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Monday, June 8th. This is an increase from Alphabet’s previous quarterly dividend of $0.21. Alphabet’s dividend payout ratio is currently 6.71%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on GOOGL. Oppenheimer increased their target price on Alphabet from $425.00 to $445.00 and gave the stock an “outperform” rating in a research report on Friday, May 15th. Citizens Jmp reissued a “market outperform” rating and set a $515.00 price target on shares of Alphabet in a research report on Wednesday, May 20th. The Goldman Sachs Group upped their price target on Alphabet from $400.00 to $450.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Susquehanna restated a “positive” rating and issued a $460.00 price objective (up from $400.00) on shares of Alphabet in a report on Thursday, April 30th. Finally, Daiwa Securities Group lifted their price objective on Alphabet from $380.00 to $445.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. Two analysts have rated the stock with a Strong Buy rating, forty-seven have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and an average target price of $413.13.

Read Our Latest Stock Report on Alphabet

Key Stories Impacting Alphabet

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Alphabet Company Profile

(Free Report)

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.

See Also

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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