Evercore Wealth Management LLC Sells 6,942 Shares of Alphabet Inc. (NASDAQ:GOOG)

Evercore Wealth Management LLC trimmed its stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 0.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,023,871 shares of the information services provider's stock after selling 6,942 shares during the period. Alphabet comprises 2.9% of Evercore Wealth Management LLC's investment portfolio, making the stock its 7th biggest holding. Evercore Wealth Management LLC's holdings in Alphabet were worth $194,986,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the stock. Fiduciary Advisors Inc. acquired a new stake in Alphabet in the 4th quarter valued at about $27,000. LSV Asset Management purchased a new position in Alphabet in the fourth quarter worth approximately $27,000. WealthTrak Capital Management LLC acquired a new position in Alphabet during the 4th quarter worth approximately $38,000. Mountain Hill Investment Partners Corp. purchased a new stake in shares of Alphabet in the 4th quarter valued at approximately $39,000. Finally, Noble Wealth Management PBC acquired a new stake in shares of Alphabet in the 4th quarter valued at $43,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Performance

Shares of GOOG stock traded up $2.38 during midday trading on Friday, hitting $163.85. The company had a trading volume of 35,100,087 shares, compared to its average volume of 19,311,734. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $208.70. 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's 50 day simple moving average is $164.25 and its 200 day simple moving average is $177.25. The stock has a market cap of $2.00 trillion, a price-to-earnings ratio of 20.35, a PEG ratio of 1.34 and a beta of 1.04.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.04 by $0.77. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. The company had revenue of $90.23 billion for the quarter, compared to analysts' expectations of $89.30 billion. Research analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date of this dividend was Monday, March 10th. Alphabet's dividend payout ratio is presently 9.94%.

Analysts Set New Price Targets

Several equities analysts recently commented on GOOG shares. Benchmark reissued a "negative" rating on shares of Alphabet in a report on Wednesday, February 5th. Wedbush reissued an "outperform" rating and set a $220.00 target price on shares of Alphabet in a research report on Thursday, January 30th. Morgan Stanley reaffirmed an "overweight" rating on shares of Alphabet in a report on Wednesday, February 5th. Citigroup reissued a "sell" rating on shares of Alphabet in a report on Wednesday. Finally, Oppenheimer upped their target price on shares of Alphabet from $185.00 to $200.00 and gave the company an "outperform" rating in a report on Friday. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, fourteen have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $203.94.

Insiders Place Their Bets

In related news, CAO Amie Thuener O'toole sold 1,340 shares of the firm'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 value of $270,787.20. Following the completion of the transaction, the chief accounting officer now directly owns 17,848 shares of the company's stock, valued at $3,606,723.84. This trade represents a 6.98 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kavitark Ram Shriram sold 29,066 shares of the business's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $184.89, for a total value of $5,374,012.74. Following the sale, the director now owns 272,466 shares in the company, valued at approximately $50,376,238.74. The trade was a 9.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 148,163 shares of company stock worth $25,361,647. Company insiders own 12.99% of the company's stock.

Alphabet 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.