Evercore Wealth Management LLC lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 0.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 819,701 shares of the information services provider's stock after purchasing an additional 6,047 shares during the quarter. Alphabet comprises about 2.3% of Evercore Wealth Management LLC's investment portfolio, making the stock its 13th largest holding. Evercore Wealth Management LLC's holdings in Alphabet were worth $155,169,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also recently bought and sold shares of GOOGL. Norges Bank bought a new stake in shares of Alphabet during the 4th quarter worth $24,383,677,000. FMR LLC boosted its position in shares of Alphabet by 9.8% in the 4th quarter. FMR LLC now owns 248,416,916 shares of the information services provider's stock valued at $47,025,322,000 after purchasing an additional 22,100,902 shares during the period. Capital Research Global Investors increased its stake in Alphabet by 16.2% in the 4th quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider's stock worth $13,635,878,000 after purchasing an additional 10,037,685 shares in the last quarter. Wellington Management Group LLP raised its holdings in Alphabet by 15.9% during the 4th quarter. Wellington Management Group LLP now owns 66,050,135 shares of the information services provider's stock worth $12,503,291,000 after buying an additional 9,042,271 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its stake in Alphabet by 8.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 98,638,127 shares of the information services provider's stock valued at $18,672,198,000 after buying an additional 7,574,417 shares in the last quarter. Institutional investors own 40.03% of the company's stock.
Alphabet Price Performance
Shares of Alphabet stock opened at $155.65 on Thursday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The company has a market cap of $1.90 trillion, a PE ratio of 19.33, a price-to-earnings-growth ratio of 1.34 and a beta of 1.03. The firm has a fifty day moving average price of $163.13 and a two-hundred day moving average price of $175.47. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $207.05.
Alphabet (NASDAQ:GOOGL - Get Free Report) last released its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, topping 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%. Analysts expect that Alphabet Inc. will post 8.9 EPS for the current year.
Alphabet Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were given 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 presently 9.94%.
Insider Activity
In related news, insider Ruth Porat sold 17,690 shares of the business's stock in a transaction on Friday, February 21st. The stock was sold at an average price of $183.48, for a total value of $3,245,761.20. Following the sale, the insider now owns 1,449,286 shares of the company's stock, valued at $265,914,995.28. The trade was a 1.21 % decrease in their position. 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 stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total value of $5,153,200.00. Following the transaction, the chief executive officer now owns 2,717,696 shares of the company's stock, valued at $430,917,877.76. This represents a 1.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 148,163 shares of company stock worth $25,361,647. Company insiders own 11.55% of the company's stock.
Analyst Ratings Changes
A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. cut their price target on shares of Alphabet from $220.00 to $180.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. KeyCorp cut their target price on shares of Alphabet from $220.00 to $202.00 and set an "overweight" rating on the stock in a research note on Tuesday, March 18th. Morgan Stanley decreased their target price on Alphabet from $210.00 to $185.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. Roth Mkm reissued a "buy" rating and set a $220.00 price target on shares of Alphabet in a research report on Wednesday, March 19th. Finally, Stifel Nicolaus decreased their price objective on Alphabet from $225.00 to $192.00 and set a "buy" rating for the company in a research report on Wednesday. Ten analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and five have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $199.64.
Read Our Latest Stock Analysis on Alphabet
Alphabet Company Profile
(
Free Report)
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.
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