Evergreen Capital Management LLC Purchases 24,498 Shares of Alphabet Inc. $GOOGL

Key Points

• Evergreen Capital Management increased its stake in Alphabet by 10.1%, buying 24,498 shares to hold 266,891 shares valued at about $83.54 million, making it the firm's sixth-largest holding.
• Alphabet reported a blockbuster Q1, beating expectations with $5.11 EPS (vs. $2.64 est.) and $109.9 billion in revenue, prompting analyst price-target upgrades and an average MarketBeat target near $406.71.
• Insider selling was notable: CEO Sundar Pichai sold 32,500 shares for roughly $10.0 million, and insiders sold 158,553 shares (~$47.95 million) in the last quarter.

Evergreen Capital Management LLC raised its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 10.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 266,891 shares of the information services provider's stock after purchasing an additional 24,498 shares during the quarter. Alphabet accounts for approximately 1.9% of Evergreen Capital Management LLC's holdings, making the stock its 6th largest holding. Evergreen Capital Management LLC's holdings in Alphabet were worth $83,537,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. CIBC Bancorp USA Inc. bought a new position in Alphabet during the third quarter worth about $416,217,000. Sovran Advisors LLC grew its holdings in Alphabet by 23.6% during the third quarter. Sovran Advisors LLC now owns 22,219 shares of the information services provider's stock worth $5,401,000 after purchasing an additional 4,241 shares during the period. Wright Investors Service Inc. grew its holdings in Alphabet by 21.2% during the third quarter. Wright Investors Service Inc. now owns 50,064 shares of the information services provider's stock worth $12,171,000 after purchasing an additional 8,746 shares during the period. CIBC Asset Management Inc grew its holdings in Alphabet by 3.8% during the third quarter. CIBC Asset Management Inc now owns 1,666,577 shares of the information services provider's stock worth $405,131,000 after purchasing an additional 60,831 shares during the period. Finally, Belpointe Asset Management LLC grew its holdings in Alphabet by 5.4% during the third quarter. Belpointe Asset Management LLC now owns 72,608 shares of the information services provider's stock worth $17,652,000 after purchasing an additional 3,740 shares during the period. Institutional investors own 40.03% of the company's stock.

Insider Buying and Selling

In other news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $307.89, for a total value of $10,006,425.00. Following the completion of the sale, the chief executive officer directly owned 1,642,060 shares in the company, valued at approximately $505,573,853.40. The trade was a 1.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John L. Hennessy sold 1,050 shares of Alphabet stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $331.65, for a total transaction of $348,232.50. Following the completion of the sale, the director owned 3,581 shares of the company's stock, valued at approximately $1,187,638.65. The trade was a 22.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 158,553 shares of company stock valued at $47,951,856 in the last quarter. Corporate insiders own 11.61% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on GOOGL. Bank of America lifted their price target on Alphabet from $370.00 to $430.00 and gave the stock a "buy" rating in a report on Thursday, April 30th. President Capital lifted their price target on Alphabet from $375.00 to $465.00 and gave the stock a "buy" rating in a report on Tuesday. Arete Research lifted their price target on Alphabet from $380.00 to $405.00 and gave the stock a "buy" rating in a report on Wednesday, February 11th. China Renaissance lifted their price target on Alphabet from $400.00 to $485.00 and gave the stock a "buy" rating in a report on Monday. Finally, Wells Fargo & Company reduced their price objective on Alphabet from $397.00 to $361.00 and set an "overweight" rating for the company in a report on Thursday, April 2nd. Two investment analysts have rated the stock with a Strong Buy rating, forty-seven have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, Alphabet has an average rating of "Moderate Buy" and an average price target of $406.71.

Alphabet Stock Down 0.0%

NASDAQ GOOGL opened at $397.99 on Friday. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.16. Alphabet Inc. has a 1-year low of $152.20 and a 1-year high of $400.10. The company has a 50 day moving average of $318.66 and a 200-day moving average of $311.72. The company has a market cap of $4.81 trillion, a price-to-earnings ratio of 30.36, a PEG ratio of 1.66 and a beta of 1.26.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The information services provider reported $5.11 earnings per share for the quarter, beating analysts' consensus estimates of $2.64 by $2.47. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. The company had revenue of $109.90 billion during the quarter, compared to the consensus estimate of $106.98 billion. On average, equities research analysts expect that Alphabet Inc. will post 14.01 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 $0.22 dividend. The ex-dividend date is Monday, June 8th. This is a positive change 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 dividend payout ratio (DPR) is presently 6.41%.

Trending Headlines about Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Huge Q1 beat and cash generation — Alphabet reported blockbuster Q1 results and large net income, highlighting strong Search and AI-driven revenue that underpins recent multiple expansion and investor confidence. It Takes Meta Almost 9 Minutes...
• Positive Sentiment: Analyst upgrades lift sentiment — Mizuho raised its price target to $460 (outperform) and other shops have pushed targets higher, reinforcing buy-side momentum after the earnings beat. Alphabet Given New $460.00 Price Target at Mizuho
• Positive Sentiment: New consumer products and recurring revenue — Google rebranded Fitbit to Google Health, launched a $9.99/month AI health coach (May 19) and unveiled the Fitbit Air wearable; subscription services could add predictable ARPU. Google's $9.99-per-month AI health coach...
• Positive Sentiment: Market leadership narrative — Coverage notes Alphabet closing the gap on Nvidia for the world's largest market cap, a bullish signal that may attract momentum and index flows. Alphabet Is About to Overtake Nvidia...
• Neutral Sentiment: Hiring and process changes — Google is piloting AI-assisted software-engineer interviews and exploring personal AI agents (Remy), which could improve hiring throughput but raise operational and fairness questions. Google plans to let software engineers...
• Neutral Sentiment: R&D and partnerships — DeepMind has taken a minority stake to train models on the EVE Online environment and Google continues investing in personal AI agents; long-term upside but near-term costs remain. Google DeepMind Will Train AI Models...
• Negative Sentiment: Regulatory/legal risk in EU news case — Google proposed changes to search news displays to avoid further EU fines, highlighting ongoing exposure to large competition penalties that could hit earnings or require product changes. Google moves to avert EU fines...
• Negative Sentiment: UK display-ads legal claim — A £3bn collective claim alleging monopolization of display ads introduces another material legal overhang that could pressure valuation until resolved. Google facing £3bn legal claim...

Alphabet Company Profile

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.

Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.