Evergreen Wealth Management LLC Decreases Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Evergreen Wealth Management LLC lowered its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 3.5% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 28,414 shares of the information services provider’s stock after selling 1,021 shares during the quarter. Alphabet comprises 2.8% of Evergreen Wealth Management LLC’s investment portfolio, making the stock its 11th biggest holding. Evergreen Wealth Management LLC’s holdings in Alphabet were worth $4,712,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Comgest Global Investors S.A.S. increased its stake in Alphabet by 6.8% in the third quarter. Comgest Global Investors S.A.S. now owns 1,568,198 shares of the information services provider’s stock valued at $260,086,000 after purchasing an additional 99,968 shares during the last quarter. LJI Wealth Management LLC grew its position in shares of Alphabet by 21.0% in the 3rd quarter. LJI Wealth Management LLC now owns 7,622 shares of the information services provider’s stock valued at $1,264,000 after buying an additional 1,322 shares during the last quarter. Heritage Investment Group Inc. grew its position in shares of Alphabet by 23.8% in the 3rd quarter. Heritage Investment Group Inc. now owns 2,828 shares of the information services provider’s stock valued at $469,000 after buying an additional 544 shares during the last quarter. KPP Advisory Services LLC raised its stake in Alphabet by 2.2% during the 3rd quarter. KPP Advisory Services LLC now owns 13,457 shares of the information services provider’s stock worth $2,232,000 after acquiring an additional 285 shares in the last quarter. Finally, RIA Advisory Group LLC purchased a new stake in Alphabet in the third quarter valued at $478,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on GOOGL. Tigress Financial lifted their target price on Alphabet from $210.00 to $220.00 and gave the stock a “strong-buy” rating in a research report on Thursday, September 26th. Wells Fargo & Company boosted their price objective on Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. China Renaissance upgraded shares of Alphabet from a “hold” rating to a “buy” rating in a research report on Thursday, October 31st. Evercore ISI increased their price target on shares of Alphabet from $200.00 to $205.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Finally, Royal Bank of Canada lifted their price objective on shares of Alphabet from $204.00 to $210.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Seven equities research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $205.90.

Insider Buying and Selling at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $158.68, for a total transaction of $3,570,300.00. Following the transaction, the chief executive officer now owns 2,137,385 shares in the company, valued at approximately $339,160,251.80. The trade was a 1.04 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kavitark Ram Shriram sold 10,500 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $177.41, for a total transaction of $1,862,805.00. Following the sale, the director now directly owns 319,966 shares of the company’s stock, valued at approximately $56,765,168.06. This trade represents a 3.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 206,795 shares of company stock valued at $34,673,866. Company insiders own 11.55% of the company’s stock.

Alphabet Stock Down 0.2 %

GOOGL opened at $168.95 on Friday. Alphabet Inc. has a 12 month low of $127.90 and a 12 month high of $191.75. The business has a 50-day moving average of $168.47 and a two-hundred day moving average of $170.33. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The stock has a market capitalization of $2.07 trillion, a price-to-earnings ratio of 22.41, a price-to-earnings-growth ratio of 1.20 and a beta of 1.03.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The firm had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same period in the previous year, the firm earned $1.55 earnings per share. On average, research analysts expect that Alphabet Inc. will post 8.01 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s payout ratio is currently 10.61%.

About Alphabet

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.