EP Wealth Advisors LLC Has $161.66 Million Stock Position in Alphabet Inc. $GOOGL

Key Points

• EP Wealth Advisors LLC increased its position in Alphabet Inc. by 2.5% in Q1, holding over 1 million shares valued at approximately $161.66 million.
• Alphabet reported a quarterly earnings per share (EPS) of $2.31, exceeding estimates of $2.15, with total revenue reaching $96.43 billion.
• The company declared a quarterly dividend of $0.21 per share, with a dividend yield of 0.4%, set to be paid on September 15th to shareholders of record on September 8th.

EP Wealth Advisors LLC raised its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 2.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,045,421 shares of the information services provider's stock after acquiring an additional 25,020 shares during the period. Alphabet comprises approximately 1.3% of EP Wealth Advisors LLC's holdings, making the stock its 17th largest holding. EP Wealth Advisors LLC's holdings in Alphabet were worth $161,664,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Mystic Asset Management Inc. raised its holdings in shares of Alphabet by 6.7% in the 1st quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider's stock worth $4,400,000 after buying an additional 1,791 shares in the last quarter. Harbour Trust & Investment Management Co raised its holdings in shares of Alphabet by 0.3% in the 1st quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider's stock worth $4,187,000 after buying an additional 80 shares in the last quarter. Rockbridge Capital Management LLC acquired a new position in shares of Alphabet in the 4th quarter worth approximately $3,119,000. Cypress Capital LLC raised its holdings in shares of Alphabet by 4.1% in the 1st quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider's stock worth $2,213,000 after buying an additional 563 shares in the last quarter. Finally, Falcon Wealth Planning raised its holdings in shares of Alphabet by 15.7% in the 1st quarter. Falcon Wealth Planning now owns 9,898 shares of the information services provider's stock worth $1,531,000 after buying an additional 1,340 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company's stock.

Alphabet Stock Up 0.6%

Shares of GOOGL opened at $212.91 on Tuesday. The firm has a market capitalization of $2.57 trillion, a price-to-earnings ratio of 22.67, a PEG ratio of 1.43 and a beta of 1.01. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The business's fifty day moving average price is $191.39 and its two-hundred day moving average price is $174.16. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $214.65.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating analysts' consensus estimates of $2.15 by $0.16. The firm had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. On average, analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on GOOGL shares. Cantor Fitzgerald increased their target price on Alphabet from $196.00 to $201.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Morgan Stanley increased their price target on Alphabet from $185.00 to $205.00 and gave the stock an "overweight" rating in a research report on Monday, July 21st. Citigroup increased their price target on Alphabet from $203.00 to $225.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. BNP Paribas Exane restated a "neutral" rating and set a $172.00 price target on shares of Alphabet in a research report on Friday, June 27th. Finally, Sanford C. Bernstein increased their price target on Alphabet from $185.00 to $195.00 and gave the stock a "market perform" rating in a research report on Tuesday, July 22nd. Four investment analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and ten have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Alphabet currently has a consensus rating of "Moderate Buy" and a consensus price target of $211.53.

Insider Transactions at Alphabet

In other Alphabet news, insider John Kent Walker sold 23,820 shares of the stock in a transaction on Monday, August 4th. The stock was sold at an average price of $194.70, for a total value of $4,637,754.00. Following the transaction, the insider directly owned 42,999 shares in the company, valued at approximately $8,371,905.30. This trade represents a 35.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kavitark Ram Shriram sold 18,566 shares of the stock in a transaction on Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $3,448,820.16. Following the completion of the transaction, the director owned 243,400 shares in the company, valued at $45,213,984. The trade was a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 254,710 shares of company stock valued at $47,225,230 over the last 90 days. 11.55% of the stock is currently owned by corporate insiders.

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.

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