Evelyn Partners Asset Management Ltd Has $14.50 Million Stake in Alphabet Inc. $GOOGL

Key Points

• Evelyn Partners Asset Management cut its Alphabet stake by 37% in the fourth quarter, selling 27,144 shares and ending with 46,311 shares worth about $14.5 million. Alphabet still ranked as its fifth-largest holding and made up 3.4% of its portfolio.
• Alphabet continues to attract bullish analyst sentiment, with several firms maintaining or raising ratings and a consensus Moderate Buy target of $413.13. The stock also has strong institutional ownership, with investors holding about 40.03% of shares.
• The company posted better-than-expected quarterly results, reporting EPS of $5.11 versus estimates of $2.64 and revenue of $109.9 billion versus $106.98 billion. Alphabet also recently raised its quarterly dividend to $0.22 per share, up from $0.21.

Evelyn Partners Asset Management Ltd lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 37.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 46,311 shares of the information services provider's stock after selling 27,144 shares during the period. Alphabet comprises approximately 3.4% of Evelyn Partners Asset Management Ltd's investment portfolio, making the stock its 5th biggest holding. Evelyn Partners Asset Management Ltd's holdings in Alphabet were worth $14,495,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Symmetry Partners LLC raised its stake in shares of Alphabet by 0.4% during the fourth quarter. Symmetry Partners LLC now owns 7,912 shares of the information services provider's stock valued at $2,476,000 after acquiring an additional 30 shares in the last quarter. Members Trust Co raised its stake in shares of Alphabet by 0.5% during the fourth quarter. Members Trust Co now owns 6,434 shares of the information services provider's stock valued at $2,014,000 after acquiring an additional 31 shares in the last quarter. Altfest L J & Co. Inc. raised its stake in shares of Alphabet by 0.4% during the fourth quarter. Altfest L J & Co. Inc. now owns 7,952 shares of the information services provider's stock valued at $2,489,000 after acquiring an additional 31 shares in the last quarter. Insight 2811 Inc. raised its stake in shares of Alphabet by 1.0% during the fourth quarter. Insight 2811 Inc. now owns 3,124 shares of the information services provider's stock valued at $978,000 after acquiring an additional 32 shares in the last quarter. Finally, LJI Wealth Management LLC raised its stake in shares of Alphabet by 0.4% during the fourth quarter. LJI Wealth Management LLC now owns 7,265 shares of the information services provider's stock valued at $2,274,000 after acquiring an additional 32 shares in the last quarter. Institutional investors own 40.03% of the company's stock.

Key Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet’s drone unit Wing expanded its Walmart partnership into seven more U.S. cities, pushing the service toward nearly 20 markets and signaling that drone delivery is moving from experiment to scalable business. Alphabet's Most Overlooked Division Just Had a Big Week
• Positive Sentiment: Waymo launched a new $29.99 monthly membership program with perks for frequent riders, a move that suggests the robotaxi business is building recurring revenue on top of rapid ride-growth. Waymo launches premier subscription tier for $29.99 a month, starting in select cities
• Positive Sentiment: TD Cowen raised its price target on Alphabet, adding to the bullish analyst backdrop and supporting the view that the stock still has room to run. Alphabet (GOOGL) Among Our Good Stocks to Buy Now
• Positive Sentiment: Bank of America and other commentary highlighted Alphabet as a long-term AI beneficiary, especially as rising model costs could strengthen demand for Google Cloud and infrastructure. Anthropic's Priciest AI Model Yet Is Here. Why Alphabet and Amazon Will Benefit.
• Neutral Sentiment: Alphabet sued an alleged Chinese cybercrime group accused of using Google’s AI tools to run scam operations, which shows the company is actively defending its platform but is not likely to move the stock much on its own. Google sues alleged Chinese cybercrime operation that used AI to send scam texts
• Neutral Sentiment: Some investors noted that Altimeter Capital fully exited its Alphabet stake in Q1, but this appears more like portfolio repositioning than a company-specific warning. Billionaire Brad Gerstner Dumped All of His Alphabet Then Bought 2 Stocks Nobody Expected

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on GOOGL shares. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of Alphabet in a research note on Tuesday, April 28th. UBS Group reaffirmed a "neutral" rating on shares of Alphabet in a research note on Wednesday, May 20th. JPMorgan Chase & Co. reissued a "buy" rating on shares of Alphabet in a research note on Monday, May 4th. Freedom Capital downgraded shares of Alphabet from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 4th. Finally, Citigroup reissued an "outperform" rating on shares of Alphabet in a research note on Monday, May 4th. Two investment analysts have rated the stock with a Strong Buy rating, forty-seven have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, Alphabet currently has a consensus rating of "Moderate Buy" and an average target price of $413.13.

Alphabet Stock Performance

Shares of NASDAQ:GOOGL opened at $359.68 on Friday. The company has a market capitalization of $4.36 trillion, a price-to-earnings ratio of 27.44, a price-to-earnings-growth ratio of 1.54 and a beta of 1.23. Alphabet Inc. has a 52 week low of $162.00 and a 52 week high of $408.61. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.16. The firm has a 50 day moving average of $360.45 and a 200 day moving average of $330.26.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.64 by $2.47. The business had revenue of $109.90 billion for the quarter, compared to the consensus estimate of $106.98 billion. Alphabet had a return on equity of 38.99% and a net margin of 37.92%. On average, sell-side analysts predict that Alphabet Inc. will post 14.3 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 8th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Monday, June 8th. This is a boost from Alphabet's previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.2%. Alphabet's payout ratio is currently 6.71%.

Insider Buying and Selling at Alphabet

In other news, insider John Kent Walker sold 8,993 shares of the company's stock in a transaction on Friday, March 27th. The stock was sold at an average price of $275.89, for a total transaction of $2,481,078.77. Following the transaction, the insider directly owned 51,808 shares of the company's stock, valued at approximately $14,293,309.12. This represents a 14.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 1,050 shares of the company's stock in a transaction on Friday, May 15th. The stock was sold at an average price of $393.26, for a total value of $412,923.00. Following the transaction, the director directly owned 2,531 shares in the company, valued at approximately $995,341.06. The trade was a 29.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 193,016 shares of company stock valued at $17,282,549. Corporate insiders own 11.61% of the company's stock.

About Alphabet

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google's core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google's consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.

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