Evelyn Partners Investment Management Services Ltd Raises Holdings in Alphabet Inc. $GOOG

by · The Cerbat Gem

Evelyn Partners Investment Management Services Ltd raised its position in Alphabet Inc. (NASDAQ:GOOGFree Report) by 72.9% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 12,591 shares of the information services provider’s stock after purchasing an additional 5,308 shares during the period. Evelyn Partners Investment Management Services Ltd’s holdings in Alphabet were worth $2,392,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Evelyn Partners Investment Management LLP boosted its position in Alphabet by 2,851.2% during the second quarter. Evelyn Partners Investment Management LLP now owns 183,034 shares of the information services provider’s stock worth $32,468,000 after acquiring an additional 176,832 shares during the last quarter. Evelyn Partners Investment Management Europe Ltd boosted its holdings in shares of Alphabet by 32.2% during the 2nd quarter. Evelyn Partners Investment Management Europe Ltd now owns 6,700 shares of the information services provider’s stock worth $1,189,000 after purchasing an additional 1,633 shares during the last quarter. Sfmg LLC grew its position in shares of Alphabet by 1.4% in the second quarter. Sfmg LLC now owns 74,310 shares of the information services provider’s stock valued at $13,182,000 after purchasing an additional 1,014 shares in the last quarter. Evelyn Partners Asset Management Ltd increased its holdings in shares of Alphabet by 4,395.8% in the second quarter. Evelyn Partners Asset Management Ltd now owns 3,237 shares of the information services provider’s stock valued at $574,000 after purchasing an additional 3,165 shares during the last quarter. Finally, Cooper Haims Advisors LLC lifted its position in Alphabet by 8.1% during the second quarter. Cooper Haims Advisors LLC now owns 2,482 shares of the information services provider’s stock worth $440,000 after buying an additional 187 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on GOOG. Mizuho set a $325.00 target price on Alphabet in a research note on Thursday, October 30th. UBS Group reaffirmed a “neutral” rating on shares of Alphabet in a research note on Thursday, October 30th. Hsbc Global Res raised shares of Alphabet to a “strong-buy” rating in a research report on Tuesday, October 7th. JPMorgan Chase & Co. lifted their target price on shares of Alphabet from $260.00 to $300.00 and gave the company an “overweight” rating in a report on Monday, October 27th. Finally, Cowen restated a “buy” rating on shares of Alphabet in a research note on Thursday, October 30th. Seven analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $324.81.

Check Out Our Latest Research Report on Alphabet

Alphabet Stock Performance

Shares of GOOG stock opened at $299.65 on Friday. The firm has a 50 day moving average of $262.98 and a two-hundred day moving average of $213.90. The stock has a market capitalization of $3.62 trillion, a PE ratio of 29.55, a P/E/G ratio of 1.86 and a beta of 1.05. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $306.89.

Alphabet (NASDAQ:GOOGGet Free Report) last announced its quarterly earnings data on Thursday, October 30th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.29 by $0.58. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The business had revenue of $102.35 billion during the quarter, compared to analysts’ expectations of $99.90 billion. During the same quarter last year, the business posted $2.12 EPS. The business’s quarterly revenue was up 15.9% compared to the same quarter last year. On average, research analysts predict that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Monday, December 8th. Alphabet’s dividend payout ratio is 8.28%.

Insider Activity at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 2,778 shares of the firm’s stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $250.05, for a total transaction of $694,638.90. Following the sale, the chief accounting officer owned 14,516 shares of the company’s stock, valued at approximately $3,629,725.80. This trade represents a 16.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John Kent Walker sold 17,816 shares of the company’s stock in a transaction on Monday, September 29th. The shares were sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the completion of the transaction, the insider owned 42,985 shares of the company’s stock, valued at approximately $10,635,348.70. The trade was a 29.30% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 227,952 shares of company stock valued at $58,896,009 over the last three months. 12.99% of the stock is owned by corporate insiders.

Alphabet Profile

(Free Report)

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.

Recommended Stories