Evergreen Capital Management LLC Has $39.17 Million Stock Holdings in Alphabet Inc. $GOOG

Key Points

• Evergreen Capital Management LLC reduced its stake in Alphabet Inc. by 4.8% in the first quarter, now holding approximately 250,743 shares worth about $39.17 million.
• Alphabet reported a quarterly EPS of $2.31, exceeding analysts' expectations, with a revenue increase of 13.8% compared to the previous year.
• The company declared a quarterly dividend of $0.21, payable on September 15th, representing a yield of 0.4%, with a payout ratio of 8.95%.

Evergreen Capital Management LLC reduced its holdings in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 4.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 250,743 shares of the information services provider's stock after selling 12,559 shares during the quarter. Alphabet makes up about 1.3% of Evergreen Capital Management LLC's portfolio, making the stock its 8th biggest holding. Evergreen Capital Management LLC's holdings in Alphabet were worth $39,174,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Principia Wealth Advisory LLC boosted its stake in Alphabet by 111.8% in the 1st quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock valued at $26,000 after purchasing an additional 85 shares during the period. MorganRosel Wealth Management LLC acquired a new position in Alphabet in the 1st quarter valued at $26,000. Greykasell Wealth Strategies Inc. acquired a new position in shares of Alphabet during the 1st quarter worth $32,000. Goodman Advisory Group LLC acquired a new stake in Alphabet in the first quarter valued at about $32,000. Finally, Elevate Wealth Advisory Inc. acquired a new stake in Alphabet in the first quarter valued at about $34,000. 27.26% of the stock is currently owned by institutional investors.

Alphabet Trading Up 2.0%

NASDAQ GOOG opened at $212.37 on Friday. The firm has a market capitalization of $2.57 trillion, a P/E ratio of 22.62, a PEG ratio of 1.40 and a beta of 1.02. The business has a fifty day simple moving average of $190.40 and a 200 day simple moving average of $175.38. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $212.90. 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 (NASDAQ:GOOG - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating analysts' consensus estimates of $2.12 by $0.19. The business had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.Alphabet's quarterly revenue was up 13.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.89 EPS. On average, analysts predict that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors 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 of this dividend is Monday, September 8th. Alphabet's dividend payout ratio is presently 8.95%.

Insiders Place Their Bets

In related news, insider John Kent Walker sold 23,820 shares of the firm's stock in a transaction dated 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 owned 42,999 shares in the company, valued at approximately $8,371,905.30. This trade represents a 35.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $199.92, for a total value of $6,497,400.00. Following the completion of the sale, the chief executive officer owned 2,462,392 shares in the company, valued at approximately $492,281,408.64. The trade was a 1.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 254,608 shares of company stock valued at $47,204,035. 12.99% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Citizens Jmp raised Alphabet from a "hold" rating to a "strong-buy" rating in a report on Thursday, June 26th. Pivotal Research upped their price target on Alphabet from $225.00 to $245.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Raymond James Financial restated an "outperform" rating and set a $210.00 target price (up previously from $185.00) on shares of Alphabet in a research report on Thursday, July 24th. UBS Group upped their target price on Alphabet from $186.00 to $192.00 and gave the company a "neutral" rating in a research report on Wednesday, July 16th. Finally, Piper Sandler reiterated a "neutral" rating on shares of Alphabet in a report on Wednesday, July 9th. Five investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat.com, Alphabet currently has an average rating of "Moderate Buy" and an average 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.

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