Evercore Wealth Management LLC Acquires 6,047 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Evercore Wealth Management LLC lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.7% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 819,701 shares of the information services provider’s stock after purchasing an additional 6,047 shares during the period. Alphabet accounts for about 2.3% of Evercore Wealth Management LLC’s portfolio, making the stock its 13th largest position. Evercore Wealth Management LLC’s holdings in Alphabet were worth $155,169,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in GOOGL. Optivise Advisory Services LLC boosted its holdings in Alphabet by 8.0% in the fourth quarter. Optivise Advisory Services LLC now owns 5,464 shares of the information services provider’s stock valued at $1,035,000 after acquiring an additional 403 shares during the last quarter. Community Bank N.A. lifted its position in Alphabet by 6.4% during the 4th quarter. Community Bank N.A. now owns 46,173 shares of the information services provider’s stock valued at $8,741,000 after purchasing an additional 2,790 shares during the period. Premier Fund Managers Ltd boosted its stake in shares of Alphabet by 30.0% in the 4th quarter. Premier Fund Managers Ltd now owns 61,792 shares of the information services provider’s stock valued at $11,816,000 after purchasing an additional 14,262 shares during the last quarter. Absolute Capital Management LLC boosted its stake in shares of Alphabet by 14.0% in the 4th quarter. Absolute Capital Management LLC now owns 2,096 shares of the information services provider’s stock valued at $401,000 after purchasing an additional 258 shares during the last quarter. Finally, Permanent Capital Management LP acquired a new stake in shares of Alphabet during the 4th quarter worth approximately $273,000. 40.03% of the stock is owned by institutional investors.

Insider Activity

In other Alphabet news, CAO Amie Thuener O’toole sold 1,340 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $202.08, for a total transaction of $270,787.20. Following the transaction, the chief accounting officer now owns 17,848 shares of the company’s stock, valued at $3,606,723.84. The trade was a 6.98 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total value of $5,153,200.00. Following the completion of the sale, the chief executive officer now directly owns 2,717,696 shares of the company’s stock, valued at approximately $430,917,877.76. The trade was a 1.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 148,163 shares of company stock valued at $25,361,647. 11.55% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. DA Davidson reduced their price objective on shares of Alphabet from $200.00 to $160.00 and set a “neutral” rating on the stock in a research note on Monday, April 14th. Citizens Jmp lowered Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. Jefferies Financial Group decreased their price objective on Alphabet from $235.00 to $200.00 and set a “buy” rating for the company in a research note on Monday, March 31st. Wedbush set a $190.00 target price on Alphabet and gave the company an “outperform” rating in a research note on Tuesday, April 15th. Finally, Wells Fargo & Company decreased their target price on Alphabet from $184.00 to $167.00 and set an “equal weight” rating for the company in a research report on Monday, March 31st. Ten analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and five have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $199.64.

Alphabet Stock Up 2.8 %

Shares of GOOGL stock opened at $155.65 on Thursday. The firm’s fifty day moving average price is $163.13 and its two-hundred day moving average price is $175.47. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $207.05. The firm has a market capitalization of $1.90 trillion, a P/E ratio of 19.33, a PEG ratio of 1.34 and a beta of 1.03.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. On average, equities analysts predict that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date was Monday, March 10th. Alphabet’s dividend payout ratio is currently 9.94%.

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.