Evolution Wealth Advisors LLC Sells 950 Shares of Alphabet Inc. (NASDAQ:GOOG)

Evolution Wealth Advisors LLC reduced its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 56,104 shares of the information services provider’s stock after selling 950 shares during the period. Alphabet accounts for approximately 1.6% of Evolution Wealth Advisors LLC’s holdings, making the stock its 14th biggest position. Evolution Wealth Advisors LLC’s holdings in Alphabet were worth $8,542,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Fiduciary Alliance LLC lifted its stake in Alphabet by 1.4% in the first quarter. Fiduciary Alliance LLC now owns 4,867 shares of the information services provider’s stock valued at $762,000 after buying an additional 67 shares in the last quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO raised its holdings in shares of Alphabet by 0.8% during the first quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 8,588 shares of the information services provider’s stock worth $1,308,000 after acquiring an additional 68 shares during the period. Cranbrook Wealth Management LLC lifted its position in Alphabet by 14.0% in the 4th quarter. Cranbrook Wealth Management LLC now owns 570 shares of the information services provider’s stock valued at $80,000 after acquiring an additional 70 shares in the last quarter. Saratoga Research & Investment Management boosted its stake in Alphabet by 0.5% in the 1st quarter. Saratoga Research & Investment Management now owns 14,706 shares of the information services provider’s stock worth $2,239,000 after purchasing an additional 72 shares during the period. Finally, Manchester Financial Inc. increased its holdings in Alphabet by 3.6% during the 4th quarter. Manchester Financial Inc. now owns 2,124 shares of the information services provider’s stock worth $299,000 after purchasing an additional 74 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Morgan Stanley restated an “overweight” rating and set a $165.00 price objective on shares of Alphabet in a research note on Thursday, April 11th. Stifel Nicolaus raised their target price on shares of Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Oppenheimer boosted their target price on shares of Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a report on Monday, April 8th. Finally, Rosenblatt Securities cut shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target for the company. in a research note on Friday, June 28th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and a consensus price target of $167.86.

Alphabet Stock Up 0.4 %

Shares of GOOG opened at $187.39 on Thursday. The firm has a market cap of $2.32 trillion, a P/E ratio of 28.74, a price-to-earnings-growth ratio of 1.40 and a beta of 1.05. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15. Alphabet Inc. has a 52 week low of $115.83 and a 52 week high of $187.62. The firm’s 50-day simple moving average is $175.47 and its 200 day simple moving average is $156.57.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.51 by $0.38. The company had revenue of $80.54 billion for the quarter, compared to the consensus estimate of $78.75 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The firm’s revenue for the quarter was up 15.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.17 earnings per share. On average, analysts forecast that Alphabet Inc. will post 7.6 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently announced a — dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 10th were issued a dividend of $0.20 per share. The ex-dividend date was Monday, June 10th. Alphabet’s dividend payout ratio is currently 12.27%.

Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $186.74, for a total value of $4,201,650.00. Following the transaction, the chief executive officer now directly owns 2,227,385 shares in the company, valued at $415,941,874.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, SVP Prabhakar Raghavan sold 3,262 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $183.99, for a total value of $600,175.38. Following the transaction, the senior vice president now owns 9 shares in the company, valued at $1,655.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $186.74, for a total transaction of $4,201,650.00. Following the sale, the chief executive officer now directly owns 2,227,385 shares of the company’s stock, valued at approximately $415,941,874.90. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 146,288 shares of company stock valued at $25,345,053. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Company Profile

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.