Evermay Wealth Management LLC Sells 3,069 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Evermay Wealth Management LLC cut its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 7.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 37,343 shares of the information services provider’s stock after selling 3,069 shares during the quarter. Alphabet comprises about 1.1% of Evermay Wealth Management LLC’s holdings, making the stock its 15th largest position. Evermay Wealth Management LLC’s holdings in Alphabet were worth $6,802,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Capital Square LLC increased its holdings in Alphabet by 15.6% in the second quarter. Capital Square LLC now owns 3,262 shares of the information services provider’s stock worth $593,000 after purchasing an additional 439 shares in the last quarter. Autumn Glory Partners LLC grew its stake in shares of Alphabet by 7.8% in the 2nd quarter. Autumn Glory Partners LLC now owns 20,612 shares of the information services provider’s stock valued at $3,754,000 after buying an additional 1,500 shares during the period. Adell Harriman & Carpenter Inc. increased its position in Alphabet by 3.5% in the 2nd quarter. Adell Harriman & Carpenter Inc. now owns 144,068 shares of the information services provider’s stock valued at $26,242,000 after buying an additional 4,903 shares in the last quarter. JFG Wealth Management LLC raised its stake in Alphabet by 14.4% during the 2nd quarter. JFG Wealth Management LLC now owns 2,011 shares of the information services provider’s stock worth $366,000 after buying an additional 253 shares during the period. Finally, Allegheny Financial Group LTD lifted its holdings in shares of Alphabet by 16.9% in the 2nd quarter. Allegheny Financial Group LTD now owns 13,250 shares of the information services provider’s stock worth $2,413,000 after purchasing an additional 1,915 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Analyst Ratings Changes

GOOGL has been the subject of a number of recent research reports. UBS Group boosted their price target on shares of Alphabet from $200.00 to $204.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Wolfe Research initiated coverage on shares of Alphabet in a report on Tuesday, July 16th. They set an “outperform” rating and a $240.00 price objective on the stock. Citigroup boosted their target price on Alphabet from $190.00 to $212.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Argus lifted their price target on Alphabet from $200.00 to $215.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Finally, Guggenheim increased their price target on shares of Alphabet from $195.00 to $205.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Eight research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $201.08.

Alphabet Price Performance

GOOGL stock opened at $158.06 on Tuesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. The firm has a market cap of $1.95 trillion, a P/E ratio of 24.24, a P/E/G ratio of 1.13 and a beta of 1.04. The firm’s fifty day moving average is $166.84 and its 200 day moving average is $165.01. Alphabet Inc. has a 52 week low of $120.21 and a 52 week high of $191.75.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The business had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $70.60 billion. During the same period in the previous year, the firm earned $1.44 EPS. Research analysts predict that Alphabet Inc. will post 7.64 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.51%. The ex-dividend date was Monday, September 9th. Alphabet’s dividend payout ratio (DPR) is 12.27%.

Insiders Place Their Bets

In related news, SVP Prabhakar Raghavan sold 34,257 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total value of $5,570,188.20. Following the completion of the sale, the senior vice president now owns 312,210 shares of the company’s stock, valued at $50,765,346. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, SVP Prabhakar Raghavan sold 34,257 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total value of $5,570,188.20. Following the completion of the transaction, the senior vice president now owns 312,210 shares in the company, valued at approximately $50,765,346. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total transaction of $125,126.54. Following the completion of the transaction, the chief accounting officer now owns 30,650 shares of the company’s stock, valued at $5,623,355.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 180,167 shares of company stock worth $30,139,931. 11.55% of the stock is currently owned by company insiders.

Alphabet 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.