Evergreen Private Wealth LLC Lowers Stake in Alphabet Inc. $GOOGL

Evergreen Private Wealth LLC lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 28.2% during the fourth quarter, Holdings Channel.com reports. The fund owned 32,501 shares of the information services provider’s stock after selling 12,755 shares during the period. Alphabet comprises 4.0% of Evergreen Private Wealth LLC’s investment portfolio, making the stock its 2nd largest position. Evergreen Private Wealth LLC’s holdings in Alphabet were worth $10,173,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Symmetry Partners LLC increased its stake in Alphabet by 0.4% during the 4th quarter. Symmetry Partners LLC now owns 7,912 shares of the information services provider’s stock worth $2,476,000 after acquiring an additional 30 shares during the period. Members Trust Co increased its stake in Alphabet by 0.5% during the 4th quarter. Members Trust Co now owns 6,434 shares of the information services provider’s stock worth $2,014,000 after acquiring an additional 31 shares during the period. Altfest L J & Co. Inc. increased its stake in Alphabet by 0.4% during the 4th quarter. Altfest L J & Co. Inc. now owns 7,952 shares of the information services provider’s stock worth $2,489,000 after acquiring an additional 31 shares during the period. Lifelong Wealth Advisors Inc. increased its stake in Alphabet by 1.9% during the 4th quarter. Lifelong Wealth Advisors Inc. now owns 1,728 shares of the information services provider’s stock worth $541,000 after acquiring an additional 33 shares during the period. Finally, White Wing Wealth Management increased its stake in Alphabet by 2.9% during the 4th quarter. White Wing Wealth Management now owns 1,155 shares of the information services provider’s stock worth $362,000 after acquiring an additional 33 shares during the period. Institutional investors own 40.03% of the company’s stock.

Alphabet Trading Down 0.0%

NASDAQ GOOGL opened at $400.69 on Monday. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.16. Alphabet Inc. has a twelve month low of $152.20 and a twelve month high of $402.00. The company has a market cap of $4.85 trillion, a price-to-earnings ratio of 30.56, a price-to-earnings-growth ratio of 1.64 and a beta of 1.26. The business’s fifty day moving average is $318.66 and its 200 day moving average is $311.72.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Wednesday, April 29th. The information services provider reported $5.11 earnings per share for the quarter, beating 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 company had revenue of $109.90 billion for the quarter, compared to the consensus estimate of $106.98 billion. As a group, sell-side analysts expect that Alphabet Inc. will post 14.29 EPS for the current fiscal year.

Alphabet Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 8th will be issued a dividend of $0.22 per share. This is a positive change from Alphabet’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Monday, June 8th. This represents a $0.88 annualized dividend and a dividend yield of 0.2%. Alphabet’s dividend payout ratio (DPR) is 6.41%.

Insider Activity at Alphabet

In related news, insider John Kent Walker sold 8,993 shares of the firm’s stock in a transaction on Friday, March 27th. The stock was sold at an average price of $275.89, for a total transaction of $2,481,078.77. Following the sale, the insider owned 51,808 shares of the company’s stock, valued at $14,293,309.12. This trade represents a 14.79% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director John L. Hennessy sold 1,050 shares of the firm’s stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $331.65, for a total value of $348,232.50. Following the sale, the director directly owned 3,581 shares in the company, valued at approximately $1,187,638.65. This trade represents a 22.67% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 158,553 shares of company stock worth $47,951,856 over the last 90 days. 11.61% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on GOOGL shares. Morgan Stanley raised their price objective on Alphabet from $330.00 to $375.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Raymond James Financial upgraded Alphabet from a “moderate buy” rating to a “strong-buy” rating in a research note on Thursday, January 22nd. China Renaissance lifted their price target on Alphabet from $400.00 to $485.00 and gave the company a “buy” rating in a research note on Monday, May 4th. Roth Mkm reiterated a “buy” rating on shares of Alphabet in a research note on Thursday, April 30th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Alphabet in a research note on Tuesday, April 28th. Two equities research analysts have rated the stock with a Strong Buy rating, forty-seven have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and a consensus target price of $407.86.

Alphabet News Summary

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet unveiled upcoming AI-powered bidding and budget-pacing tools for Google Ads, which could make Search and Shopping advertising more efficient and attractive for advertisers. Google AI Automates Ad Bidding and Budget Pacing
• Positive Sentiment: Multiple analysts raised price targets on Alphabet, including DBS Bank to $460 and other firms lifting estimates after the company’s earnings beat, reinforcing the view that results remain stronger than expected. DBS Bank Adjusts Price Target on Alphabet to 460
• Positive Sentiment: Google Cloud’s partnership with OTB Group on a generative-AI virtual try-on experience adds to the narrative that Alphabet can monetize AI across enterprise and retail use cases. Google Cloud Partners With OTB Group
• Positive Sentiment: Reports highlighted strong investor appetite for AI leaders such as Google, and recent coverage continues to frame Alphabet as one of the main beneficiaries of the AI spending cycle. Google, Broadcom Drive Delirious Demand
• Positive Sentiment: Recent reports on Google’s AI “agent” efforts and AI search features suggest Alphabet is expanding its product lead in next-generation search and automation tools. Meta, Google enter AI agent race
• Neutral Sentiment: Alphabet is also getting more time to address EU regulators’ concerns in an ongoing antitrust investigation, which removes some immediate pressure but does not eliminate the legal overhang. Google Gets More Time in EU Investigation
• Negative Sentiment: Google faces a new UK lawsuit over online display ads, adding another antitrust/legal risk that could weigh on sentiment if regulatory scrutiny intensifies. Google Faces New UK Lawsuit Over Online Display Ads

About Alphabet

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.