Evergreen Private Wealth LLC Has $10.17 Million Stake in Alphabet Inc. $GOOGL

Key Points

• Evergreen Private Wealth LLC reduced its Alphabet stake by 28.2% in the fourth quarter, selling 12,755 shares and leaving it with 32,501 shares valued at about $10.17 million. Alphabet remains the firm’s second-largest holding and makes up about 4% of its portfolio.
• Alphabet’s latest earnings topped expectations, with $5.11 EPS versus the $2.64 estimate and revenue of $109.9 billion versus the $106.98 billion forecast. Analysts remain broadly positive, with an average rating of “Moderate Buy” and an average target price of $407.86.
• The company also raised its quarterly dividend to $0.22 per share, while insiders have been selling shares recently, including CEO Sundar Pichai and insider John Kent Walker. Alphabet’s stock was trading near its 52-week high, with a recent opening price of $400.69.

Evergreen Private Wealth LLC cut its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 28.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 32,501 shares of the information services provider's stock after selling 12,755 shares during the period. Alphabet accounts for about 4.0% of Evergreen Private Wealth LLC's investment portfolio, making the stock its 2nd biggest holding. Evergreen Private Wealth LLC's holdings in Alphabet were worth $10,173,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of GOOGL. PMV Capital Advisers LLC acquired a new position in Alphabet during the fourth quarter valued at approximately $38,000. Pilgrim Partners Asia Pte Ltd acquired a new position in Alphabet during the third quarter valued at approximately $53,000. Kentucky Trust Co boosted its position in Alphabet by 142.9% during the fourth quarter. Kentucky Trust Co now owns 170 shares of the information services provider's stock valued at $53,000 after purchasing an additional 100 shares during the last quarter. iSAM Funds UK Ltd acquired a new position in Alphabet during the third quarter valued at approximately $53,000. Finally, Sellwood Investment Partners LLC acquired a new position in Alphabet during the third quarter valued at approximately $63,000. 40.03% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GOOGL has been the subject of several recent research reports. BNP Paribas Exane increased their price target on Alphabet from $390.00 to $420.00 and gave the company an "outperform" rating in a research report on Thursday, April 30th. UBS Group set a $410.00 price objective on Alphabet and gave the company a "neutral" rating in a research report on Thursday, April 30th. Rothschild & Co Redburn raised their price objective on Alphabet from $390.00 to $430.00 and gave the company a "buy" rating in a research report on Thursday, April 30th. The Goldman Sachs Group raised their price objective on Alphabet from $400.00 to $450.00 and gave the company a "buy" rating in a research report on Thursday, April 30th. Finally, Roth Mkm reaffirmed a "buy" rating on shares of Alphabet in a research report on Thursday, April 30th. 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 company's stock. Based on data from MarketBeat, Alphabet presently has an average rating of "Moderate Buy" and an average target price of $407.86.

Alphabet Stock Performance

GOOGL opened at $400.69 on Monday. Alphabet Inc. has a 12-month low of $152.20 and a 12-month high of $402.00. The stock has a market cap of $4.85 trillion, a price-to-earnings ratio of 30.56, a PEG ratio of 1.64 and a beta of 1.26. The business has a 50 day moving average of $318.66 and a 200-day moving average of $311.72. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.16.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its earnings results on Wednesday, April 29th. The information services provider reported $5.11 earnings per share for the quarter, topping analysts' consensus estimates of $2.64 by $2.47. The company had revenue of $109.90 billion for the quarter, compared to analyst estimates of $106.98 billion. Alphabet had a return on equity of 38.99% and a net margin of 37.92%. On average, equities research analysts expect that Alphabet Inc. will post 14.29 earnings per share for the current year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 8th will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.2%. This is an increase from Alphabet's previous quarterly dividend of $0.21. The ex-dividend date is Monday, June 8th. Alphabet's dividend payout ratio is 6.41%.

Insider Transactions at Alphabet

In other news, insider John Kent Walker sold 47,574 shares of the stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $301.45, for a total transaction of $14,341,182.30. Following the transaction, the insider owned 13,227 shares in the company, valued at approximately $3,987,279.15. This trade represents a 78.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $303.38, for a total value of $9,859,850.00. Following the transaction, the chief executive officer owned 1,674,560 shares in the company, valued at approximately $508,028,012.80. This trade represents a 1.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 158,553 shares of company stock worth $47,951,856 in the last ninety days. 11.61% of the stock is currently owned by company insiders.

More Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet unveiled upcoming AI-powered bidding and budget-pacing tools for Google Ads, which could make Search and Shopping advertising more efficient and attractive for advertisers. Google AI Automates Ad Bidding and Budget Pacing
• Positive Sentiment: Multiple analysts raised price targets on Alphabet, including DBS Bank to $460 and other firms lifting estimates after the company’s earnings beat, reinforcing the view that results remain stronger than expected. DBS Bank Adjusts Price Target on Alphabet to 460
• Positive Sentiment: Google Cloud’s partnership with OTB Group on a generative-AI virtual try-on experience adds to the narrative that Alphabet can monetize AI across enterprise and retail use cases. Google Cloud Partners With OTB Group
• Positive Sentiment: Reports highlighted strong investor appetite for AI leaders such as Google, and recent coverage continues to frame Alphabet as one of the main beneficiaries of the AI spending cycle. Google, Broadcom Drive Delirious Demand
• Positive Sentiment: Recent reports on Google’s AI “agent” efforts and AI search features suggest Alphabet is expanding its product lead in next-generation search and automation tools. Meta, Google enter AI agent race
• Neutral Sentiment: Alphabet is also getting more time to address EU regulators’ concerns in an ongoing antitrust investigation, which removes some immediate pressure but does not eliminate the legal overhang. Google Gets More Time in EU Investigation
• Negative Sentiment: Google faces a new UK lawsuit over online display ads, adding another antitrust/legal risk that could weigh on sentiment if regulatory scrutiny intensifies. Google Faces New UK Lawsuit Over Online Display Ads

Alphabet 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.

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