Alphabet Inc. $GOOGL Stock Position Trimmed by Evelyn Partners Investment Management LLP
by Renee Jackson · The Cerbat GemEvelyn Partners Investment Management LLP lessened its holdings in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 13.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 925,561 shares of the information services provider’s stock after selling 142,163 shares during the quarter. Alphabet accounts for about 8.0% of Evelyn Partners Investment Management LLP’s holdings, making the stock its 2nd biggest position. Evelyn Partners Investment Management LLP’s holdings in Alphabet were worth $289,701,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in GOOGL. Brighton Jones LLC boosted its holdings in Alphabet by 3.9% in the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock valued at $20,886,000 after purchasing an additional 4,110 shares in the last quarter. Revolve Wealth Partners LLC boosted its holdings in Alphabet by 3.5% in the 4th quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock valued at $2,826,000 after purchasing an additional 506 shares in the last quarter. Matrix Asset Advisors Inc. NY boosted its holdings in Alphabet by 17.6% in the 2nd quarter. Matrix Asset Advisors Inc. NY now owns 3,888 shares of the information services provider’s stock valued at $685,000 after purchasing an additional 581 shares in the last quarter. Sequoia Financial Advisors LLC boosted its holdings in Alphabet by 11.2% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 485,486 shares of the information services provider’s stock valued at $85,557,000 after purchasing an additional 48,805 shares in the last quarter. Finally, United Bank boosted its holdings in Alphabet by 6.9% in the 2nd quarter. United Bank now owns 48,204 shares of the information services provider’s stock valued at $8,495,000 after purchasing an additional 3,120 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.
Trending Headlines about Alphabet
Here are the key news stories impacting Alphabet this week:
- Positive Sentiment: Alphabet’s drone unit Wing expanded its Walmart partnership into seven more U.S. cities, pushing the service toward nearly 20 markets and signaling that drone delivery is moving from experiment to scalable business. Alphabet’s Most Overlooked Division Just Had a Big Week
- Positive Sentiment: Waymo launched a new $29.99 monthly membership program with perks for frequent riders, a move that suggests the robotaxi business is building recurring revenue on top of rapid ride-growth. Waymo launches premier subscription tier for $29.99 a month, starting in select cities
- Positive Sentiment: TD Cowen raised its price target on Alphabet, adding to the bullish analyst backdrop and supporting the view that the stock still has room to run. Alphabet (GOOGL) Among Our Good Stocks to Buy Now
- Positive Sentiment: Bank of America and other commentary highlighted Alphabet as a long-term AI beneficiary, especially as rising model costs could strengthen demand for Google Cloud and infrastructure. Anthropic’s Priciest AI Model Yet Is Here. Why Alphabet and Amazon Will Benefit.
- Neutral Sentiment: Alphabet sued an alleged Chinese cybercrime group accused of using Google’s AI tools to run scam operations, which shows the company is actively defending its platform but is not likely to move the stock much on its own. Google sues alleged Chinese cybercrime operation that used AI to send scam texts
- Neutral Sentiment: Some investors noted that Altimeter Capital fully exited its Alphabet stake in Q1, but this appears more like portfolio repositioning than a company-specific warning. Billionaire Brad Gerstner Dumped All of His Alphabet Then Bought 2 Stocks Nobody Expected
Alphabet Trading Up 0.5%
Shares of Alphabet stock opened at $359.68 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.92 and a quick ratio of 1.92. Alphabet Inc. has a 1 year low of $162.00 and a 1 year high of $408.61. The company has a market capitalization of $4.36 trillion, a P/E ratio of 27.44, a P/E/G ratio of 1.54 and a beta of 1.23. The business has a 50 day moving average price of $360.45 and a 200 day moving average price of $330.26.
Alphabet (NASDAQ:GOOGL – Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.64 by $2.47. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The firm had revenue of $109.90 billion during the quarter, compared to the consensus estimate of $106.98 billion. Sell-side analysts anticipate that Alphabet Inc. will post 14.3 EPS for the current fiscal year.
Alphabet Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 8th will be given a dividend of $0.22 per share. The ex-dividend date is Monday, June 8th. This represents a $0.88 annualized dividend and a dividend yield of 0.2%. This is an increase from Alphabet’s previous quarterly dividend of $0.21. Alphabet’s payout ratio is presently 6.71%.
Analysts Set New Price Targets
A number of equities research analysts have recently issued reports on the stock. CICC Research lifted their price target on shares of Alphabet from $388.00 to $407.91 and gave the company an “outperform” rating in a research report on Friday, May 1st. Jefferies Financial Group reiterated a “buy” rating on shares of Alphabet in a research report on Wednesday, May 20th. The Goldman Sachs Group lifted their price target on shares of Alphabet from $400.00 to $450.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. President Capital lifted their price target on shares of Alphabet from $375.00 to $465.00 and gave the company a “buy” rating in a research report on Tuesday, May 5th. Finally, Citigroup reiterated an “outperform” rating on shares of Alphabet in a research report on Monday, May 4th. Two equities research analysts have rated the stock with a Strong Buy rating, forty-seven have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $413.13.
Get Our Latest Stock Report on GOOGL
Insider Buying and Selling
In other Alphabet news, insider John Kent Walker sold 8,993 shares of the business’s stock in a transaction on Friday, March 27th. The stock was sold at an average price of $275.89, for a total value of $2,481,078.77. Following the completion of the transaction, the insider directly owned 51,808 shares in the company, valued at approximately $14,293,309.12. The trade was a 14.79% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction on Wednesday, March 18th. The shares were sold at an average price of $307.89, for a total value of $10,006,425.00. Following the completion of the transaction, the chief executive officer owned 1,642,060 shares of the company’s stock, valued at $505,573,853.40. This trade represents a 1.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 193,016 shares of company stock worth $17,282,549 in the last three months. 11.61% of the stock is currently owned by insiders.
Alphabet Profile
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.
Recommended Stories
- Five stocks we like better than Alphabet
- Time to Sell? 3 Winners With Fading Technical Momentum
- Why These 2 Hotel Stocks Are Beating Travel Peers
- This Energy Stock Has Quietly Soared 130% in a Year
- 3 ‘Boring’ Dividend Stocks With Tasty Technical Setups
Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGL – Free Report).