Evolution Wealth Advisors LLC Increases Position in Alphabet Inc. (NASDAQ:GOOG)

Key Points

• Evolution Wealth Advisors LLC increased its holdings in Alphabet Inc. by 6.1% during the first quarter, now owning 62,326 shares valued at approximately $9.74 million.
• Alphabet reported earnings of $2.31 per share, surpassing estimates by $0.19, with revenues of $96.43 billion, marking a 13.8% year-over-year increase.
• The company declared a quarterly dividend of $0.21, which will be paid on September 15th, representing an annualized yield of 0.4%.

Evolution Wealth Advisors LLC lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 6.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 62,326 shares of the information services provider's stock after purchasing an additional 3,568 shares during the quarter. Alphabet accounts for 1.6% of Evolution Wealth Advisors LLC's holdings, making the stock its 15th largest position. Evolution Wealth Advisors LLC's holdings in Alphabet were worth $9,737,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Coign Capital Advisors LLC increased its stake in Alphabet by 3.0% during the 1st quarter. Coign Capital Advisors LLC now owns 7,889 shares of the information services provider's stock worth $1,232,000 after acquiring an additional 229 shares during the period. ASR Vermogensbeheer N.V. bought a new position in shares of Alphabet in the first quarter worth $78,721,000. Provident Investment Management Inc. raised its stake in Alphabet by 0.3% in the first quarter. Provident Investment Management Inc. now owns 402,958 shares of the information services provider's stock valued at $62,954,000 after purchasing an additional 1,310 shares in the last quarter. Wharton Business Group LLC raised its stake in Alphabet by 13.2% in the first quarter. Wharton Business Group LLC now owns 3,690 shares of the information services provider's stock valued at $576,000 after purchasing an additional 430 shares in the last quarter. Finally, Greykasell Wealth Strategies Inc. bought a new stake in Alphabet during the first quarter worth about $32,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 18,566 shares of the firm's stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $3,448,820.16. Following the completion of the sale, the director owned 243,400 shares of the company's stock, valued at approximately $45,213,984. This trade represents a 7.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider John Kent Walker sold 23,820 shares of Alphabet stock in a transaction on Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the sale, the insider directly owned 42,999 shares of the company's stock, valued at approximately $8,371,905.30. The trade was a 35.65% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 273,219 shares of company stock valued at $49,474,273 in the last 90 days. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Trading Up 0.2%

GOOG stock traded up $0.36 during trading on Thursday, hitting $197.28. The company had a trading volume of 14,292,926 shares, compared to its average volume of 25,208,792. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a one year low of $142.66 and a one year high of $208.70. The business has a 50-day moving average of $181.28 and a 200-day moving average of $174.68. The stock has a market cap of $2.39 trillion, a PE ratio of 21.01, a PEG ratio of 1.31 and a beta of 1.02.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.19. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The company had revenue of $96.43 billion during the quarter, compared to analysts' expectations of $93.67 billion. During the same period in the prior year, the company posted $1.89 earnings per share. Alphabet's revenue for the quarter was up 13.8% compared to the same quarter last year. Research analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet's dividend payout ratio is 8.95%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Barclays reissued a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. Roth Capital restated a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. Raymond James Financial restated an "outperform" rating and set a $210.00 target price (up from $185.00) on shares of Alphabet in a research note on Thursday, July 24th. Rosenblatt Securities raised Alphabet from a "hold" rating to a "strong-buy" rating in a report on Friday, April 25th. Finally, Citizens Jmp raised Alphabet from a "hold" rating to a "strong-buy" rating in a report on Thursday, June 26th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have assigned a buy rating and five have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $215.19.

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.