Everest Management Corp. Acquires New Shares in Alphabet Inc. (NASDAQ:GOOGL)

Everest Management Corp. bought a new position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 48,402 shares of the information services provider's stock, valued at approximately $9,162,000. Alphabet comprises approximately 8.1% of Everest Management Corp.'s portfolio, making the stock its 2nd biggest position.

Several other large investors have also made changes to their positions in the company. Principal Financial Group Inc. boosted its position in shares of Alphabet by 3.1% in the 3rd quarter. Principal Financial Group Inc. now owns 11,283,594 shares of the information services provider's stock worth $1,871,384,000 after purchasing an additional 337,031 shares during the last quarter. Passumpsic Savings Bank boosted its holdings in Alphabet by 38.0% during the third quarter. Passumpsic Savings Bank now owns 4,700 shares of the information services provider's stock worth $779,000 after buying an additional 1,294 shares during the last quarter. SOA Wealth Advisors LLC. grew its position in shares of Alphabet by 0.5% during the 3rd quarter. SOA Wealth Advisors LLC. now owns 37,379 shares of the information services provider's stock worth $6,199,000 after buying an additional 202 shares during the period. SkyView Investment Advisors LLC increased its stake in shares of Alphabet by 6.0% in the 3rd quarter. SkyView Investment Advisors LLC now owns 2,306 shares of the information services provider's stock valued at $382,000 after acquiring an additional 130 shares during the last quarter. Finally, Te Ahumairangi Investment Management Ltd raised its position in shares of Alphabet by 19.2% in the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 137,669 shares of the information services provider's stock valued at $22,703,000 after acquiring an additional 22,169 shares during the period. Institutional investors and hedge funds own 40.03% of the company's stock.

Alphabet Stock Performance

GOOGL traded up $2.55 during trading on Wednesday, hitting $154.02. The stock had a trading volume of 14,304,841 shares, compared to its average volume of 28,253,866. 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 firm has a market cap of $1.88 trillion, a price-to-earnings ratio of 19.13, a P/E/G ratio of 1.34 and a beta of 1.03. The company has a 50 day moving average price of $163.72 and a 200-day moving average price of $175.61. Alphabet Inc. has a one year low of $140.53 and a one year high of $207.05.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, beating the consensus estimate of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. As a group, research analysts predict that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.52%. The ex-dividend date of this dividend was Monday, March 10th. Alphabet's dividend payout ratio (DPR) is currently 9.94%.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, April 16th. The shares were sold at an average price of $156.16, for a total transaction of $5,075,200.00. Following the sale, the chief executive officer now owns 2,685,196 shares in the company, valued at approximately $419,320,207.36. This trade represents a 1.20 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Amie Thuener O'toole sold 1,340 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The shares were 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 approximately $3,606,723.84. This represents a 6.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 148,163 shares of company stock valued at $25,361,647 over the last 90 days. 11.55% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have weighed in on GOOGL. Westpark Capital upgraded shares of Alphabet to a "strong-buy" rating in a report on Tuesday, April 1st. Stifel Nicolaus reduced their target price on Alphabet from $225.00 to $192.00 and set a "buy" rating on the stock in a report on Wednesday. JPMorgan Chase & Co. lowered their price target on Alphabet from $220.00 to $180.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Wedbush set a $190.00 price objective on Alphabet and gave the company an "outperform" rating in a report on Tuesday, April 15th. Finally, Morgan Stanley lowered their target price on Alphabet from $210.00 to $185.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. Ten analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and five have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Alphabet has an average rating of "Moderate Buy" and a consensus target price of $199.90.

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.