Evergreen Wealth Management LLC Sells 862 Shares of Alphabet Inc. (NASDAQ:GOOG)

Evergreen Wealth Management LLC trimmed its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 10.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,611 shares of the information services provider’s stock after selling 862 shares during the quarter. Evergreen Wealth Management LLC’s holdings in Alphabet were worth $1,189,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank purchased a new position in shares of Alphabet in the 4th quarter valued at approximately $5,166,070,000. GAMMA Investing LLC increased its position in Alphabet by 18,562.3% during the 1st quarter. GAMMA Investing LLC now owns 14,323,323 shares of the information services provider’s stock valued at $2,237,733,000 after buying an additional 14,246,573 shares in the last quarter. Northern Trust Corp increased its position in Alphabet by 16.1% during the 4th quarter. Northern Trust Corp now owns 57,098,042 shares of the information services provider’s stock valued at $10,873,751,000 after buying an additional 7,917,625 shares in the last quarter. GQG Partners LLC increased its position in Alphabet by 181,679.1% during the 4th quarter. GQG Partners LLC now owns 7,225,721 shares of the information services provider’s stock valued at $1,376,066,000 after buying an additional 7,221,746 shares in the last quarter. Finally, Capital International Investors increased its position in Alphabet by 6.7% during the 4th quarter. Capital International Investors now owns 91,236,069 shares of the information services provider’s stock valued at $17,376,706,000 after buying an additional 5,758,244 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors.

Alphabet Stock Up 0.3%

NASDAQ:GOOG traded up $0.51 during trading hours on Friday, hitting $185.21. 4,272,435 shares of the company traded hands, compared to its average volume of 21,481,331. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03. The firm’s 50-day simple moving average is $173.39 and its 200-day simple moving average is $174.75. Alphabet Inc. has a one year low of $142.66 and a one year high of $208.70. The company has a market cap of $2.25 trillion, a PE ratio of 20.68, a PEG ratio of 1.28 and a beta of 1.01.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.79. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The company had revenue of $90.23 billion during the quarter, compared to analyst estimates of $89.30 billion. During the same quarter last year, the firm posted $1.89 EPS. The firm’s revenue for the quarter was up 12.0% on a year-over-year basis. Equities analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were given a dividend of $0.21 per share. The ex-dividend date was Monday, June 9th. This is a boost from Alphabet’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 0.45%. Alphabet’s dividend payout ratio is currently 9.36%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Citigroup reaffirmed a “sell” rating on shares of Alphabet in a research report on Wednesday, April 23rd. Scotiabank lowered their target price on Alphabet from $232.00 to $200.00 and set a “sector outperform” rating on the stock in a research report on Monday, April 21st. Oppenheimer restated an “outperform” rating and issued a $220.00 price objective (up from $200.00) on shares of Alphabet in a research report on Wednesday, July 9th. JPMorgan Chase & Co. boosted their price objective on Alphabet from $195.00 to $200.00 and gave the company an “overweight” rating in a research report on Friday, July 11th. Finally, Westpark Capital reissued a “buy” rating and set a $210.00 price objective on shares of Alphabet in a research note on Friday, April 25th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have issued a buy rating and five have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $208.40.

Insider Activity

In other news, Director Kavitark Ram Shriram sold 9,000 shares of the company’s stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $1,575,000.00. Following the sale, the director directly owned 255,400 shares in the company, valued at $44,695,000. This represents a 3.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $184.38, for a total transaction of $5,992,350.00. Following the completion of the transaction, the chief executive officer directly owned 2,527,392 shares of the company’s stock, valued at approximately $466,000,536.96. This represents a 1.27% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 215,843 shares of company stock worth $37,288,490 over the last ninety days. Company insiders own 12.99% of the company’s stock.

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.