Evolution Wealth Advisors LLC Trims Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Evolution Wealth Advisors LLC lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 9,469 shares of the information services provider’s stock after selling 288 shares during the period. Evolution Wealth Advisors LLC’s holdings in Alphabet were worth $1,323,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in GOOGL. Meritage Group LP grew its position in Alphabet by 1,061.5% in the 3rd quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock valued at $40,000 after acquiring an additional 276 shares in the last quarter. Macroview Investment Management LLC increased its stake in Alphabet by 165.8% during the third quarter. Macroview Investment Management LLC now owns 319 shares of the information services provider’s stock worth $42,000 after purchasing an additional 199 shares during the period. Armor Investment Advisors LLC increased its stake in Alphabet by 31.0% during the fourth quarter. Armor Investment Advisors LLC now owns 338 shares of the information services provider’s stock worth $47,000 after purchasing an additional 80 shares during the period. Valued Wealth Advisors LLC purchased a new stake in Alphabet during the fourth quarter worth about $55,000. Finally, LFA Lugano Financial Advisors SA increased its stake in Alphabet by 301.5% during the fourth quarter. LFA Lugano Financial Advisors SA now owns 522 shares of the information services provider’s stock worth $73,000 after purchasing an additional 392 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Price Performance

GOOGL stock opened at $171.95 on Friday. The company has a market capitalization of $2.14 trillion, a P/E ratio of 26.37, a PEG ratio of 1.43 and a beta of 1.05. Alphabet Inc. has a twelve month low of $103.54 and a twelve month high of $174.71. The business has a 50 day simple moving average of $147.85 and a 200-day simple moving average of $141.42. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.04. Alphabet had a return on equity of 30.01% and a net margin of 25.90%. The business had revenue of $86.31 billion during the quarter, compared to the consensus estimate of $70.77 billion. During the same period in the prior year, the company earned $1.05 earnings per share. As a group, equities analysts anticipate that Alphabet Inc. will post 6.79 EPS for the current year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 10th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.47%. The ex-dividend date is Monday, June 10th. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Jefferies Financial Group boosted their price target on shares of Alphabet from $180.00 to $200.00 and gave the stock a “buy” rating in a research note on Friday. Wells Fargo & Company boosted their price target on shares of Alphabet from $141.00 to $168.00 and gave the stock an “equal weight” rating in a research note on Friday. Mizuho boosted their price objective on Alphabet from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday. Piper Sandler reissued an “overweight” rating and set a $200.00 price objective (up from $160.00) on shares of Alphabet in a research report on Friday. Finally, Wedbush boosted their price objective on Alphabet from $175.00 to $205.00 and gave the stock an “outperform” rating in a research report on Friday. Five research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $187.82.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $146.29, for a total transaction of $3,291,525.00. Following the completion of the sale, the chief executive officer now owns 2,377,691 shares in the company, valued at $347,832,416.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $146.29, for a total value of $3,291,525.00. Following the completion of the transaction, the chief executive officer now owns 2,377,691 shares in the company, valued at $347,832,416.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Frances Arnold sold 230 shares of the stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total value of $35,433.80. Following the completion of the transaction, the director now owns 15,104 shares of the company’s stock, valued at approximately $2,326,922.24. The disclosure for this sale can be found here. Insiders sold 253,439 shares of company stock worth $36,746,578 over the last 90 days. 0.88% of the stock is currently owned by insiders.

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.