Evelyn Partners Asset Management Ltd Sells 27,144 Shares of Alphabet Inc. $GOOGL

Evelyn Partners Asset Management Ltd trimmed its position in Alphabet Inc. (NASDAQ:GOOGL) by 37.0% during the 4th quarter, Holdings Channel.com reports. The fund owned 46,311 shares of the information services provider’s stock after selling 27,144 shares during the period. Alphabet accounts for 3.4% of Evelyn Partners Asset Management Ltd’s investment portfolio, making the stock its 5th biggest holding. Evelyn Partners Asset Management Ltd’s holdings in Alphabet were worth $14,495,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. PMV Capital Advisers LLC acquired a new position in shares of Alphabet in the 4th quarter valued at $38,000. IFC & Insurance Marketing Inc. acquired a new position in shares of Alphabet in the 4th quarter valued at $38,000. Bard Associates Inc. acquired a new position in shares of Alphabet in the 4th quarter valued at $52,000. Kentucky Trust Co increased its position in shares of Alphabet by 142.9% in the 4th quarter. Kentucky Trust Co now owns 170 shares of the information services provider’s stock valued at $53,000 after acquiring an additional 100 shares during the period. Finally, iSAM Funds UK Ltd acquired a new position in shares of Alphabet in the 3rd quarter valued at $53,000. 40.03% of the stock is owned by institutional investors and hedge funds.

Alphabet Trading Up 0.5%

Shares of Alphabet stock opened at $359.68 on Friday. The firm has a market capitalization of $4.36 trillion, a PE ratio of 27.44, a P/E/G ratio of 1.54 and a beta of 1.23. Alphabet Inc. has a twelve month low of $162.00 and a twelve month high of $408.61. The firm’s 50-day moving average price is $360.45 and its 200 day moving average price is $330.26. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.16.

Alphabet (NASDAQ:GOOGL) last released its 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. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. The business had revenue of $109.90 billion for the quarter, compared to analyst estimates of $106.98 billion. On average, sell-side analysts predict that Alphabet Inc. will post 14.3 EPS for the current fiscal year.

Alphabet Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 8th will be paid a $0.22 dividend. 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 dividend on an annualized basis and a yield of 0.2%. Alphabet’s dividend payout ratio is 6.71%.

Key Headlines Impacting 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

Insiders Place Their Bets

In other Alphabet news, 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 transaction, the chief accounting officer directly owned 10,093 shares of the company’s stock, valued at $2,923,235.59. This trade represents a 5.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $307.89, for a total transaction of $10,006,425.00. Following the completion of the transaction, the chief executive officer directly owned 1,642,060 shares in the company, valued at $505,573,853.40. This trade represents a 1.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 193,016 shares of company stock worth $17,282,549. 11.61% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. The Goldman Sachs Group upped their target price on Alphabet from $400.00 to $450.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Stifel Nicolaus set a $420.00 target price on Alphabet and gave the company a “buy” rating in a research report on Thursday, April 30th. Wells Fargo & Company reissued an “overweight” rating and issued a $435.00 target price (up from $427.00) on shares of Alphabet in a research report on Wednesday, May 20th. Tigress Financial set a $415.00 target price on Alphabet and gave the company a “strong-buy” rating in a research report on Thursday, February 19th. Finally, President Capital upped their price target on shares of Alphabet from $375.00 to $465.00 and gave the company a “buy” rating in a report 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 assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $413.13.

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.