Evolution Wealth Advisors LLC Has $2.41 Million Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Key Points

• Evolution Wealth Advisors LLC increased its stake in Alphabet Inc. by 8.8%, owning a total of 15,579 shares valued at approximately $2.41 million.
• Insider John Kent Walker sold 23,820 shares for over $4.6 million, representing a 35.65% reduction in his position.
• Alphabet has declared a quarterly dividend of $0.21 per share, with an ex-dividend date set for September 8th, reflecting a yield of 0.4%.

Evolution Wealth Advisors LLC boosted its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 8.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,579 shares of the information services provider's stock after purchasing an additional 1,265 shares during the period. Evolution Wealth Advisors LLC's holdings in Alphabet were worth $2,409,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the company. ASR Vermogensbeheer N.V. acquired a new stake in Alphabet during the first quarter valued at $169,960,000. Citizens Financial Group Inc. RI lifted its position in shares of Alphabet by 3.4% in the first quarter. Citizens Financial Group Inc. RI now owns 519,374 shares of the information services provider's stock worth $80,316,000 after buying an additional 16,995 shares during the last quarter. Provident Investment Management Inc. lifted its position in shares of Alphabet by 0.9% in the first quarter. Provident Investment Management Inc. now owns 8,794 shares of the information services provider's stock worth $1,360,000 after buying an additional 80 shares during the last quarter. Harvard Management Co. Inc. lifted its position in shares of Alphabet by 4.7% in the first quarter. Harvard Management Co. Inc. now owns 718,812 shares of the information services provider's stock worth $111,157,000 after buying an additional 32,000 shares during the last quarter. Finally, Greykasell Wealth Strategies Inc. lifted its position in shares of Alphabet by 0.5% in the first quarter. Greykasell Wealth Strategies Inc. now owns 28,869 shares of the information services provider's stock worth $4,464,000 after buying an additional 156 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company's stock.

Insiders Place Their Bets

In related news, insider John Kent Walker sold 23,820 shares of the firm's stock in a transaction on Monday, August 4th. The stock was 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 directly owned 42,999 shares of the company's stock, valued at $8,371,905.30. This trade represents a 35.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John L. Hennessy sold 1,000 shares of the firm's stock in a transaction on Friday, August 8th. The shares were sold at an average price of $200.00, for a total value of $200,000.00. Following the sale, the director directly owned 6,916 shares of the company's stock, valued at $1,383,200. This represents a 12.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 274,219 shares of company stock valued at $49,674,273. Company insiders own 11.64% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on GOOGL. DA Davidson boosted their price target on Alphabet from $160.00 to $180.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Wells Fargo & Company boosted their price target on Alphabet from $184.00 to $187.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 29th. Truist Financial reaffirmed a "buy" rating and issued a $200.00 price target on shares of Alphabet in a research report on Wednesday, July 2nd. Loop Capital reaffirmed a "hold" rating and issued a $190.00 price target (up previously from $165.00) on shares of Alphabet in a research report on Tuesday, August 5th. Finally, Piper Sandler boosted their price target on Alphabet from $195.00 to $220.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Ten research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $211.53.

Alphabet Trading Down 0.7%

Shares of GOOGL opened at $201.96 on Thursday. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $207.05. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The stock has a 50 day simple moving average of $182.95 and a 200-day simple moving average of $173.22. The stock has a market cap of $2.44 trillion, a PE ratio of 21.51, a PEG ratio of 1.37 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.15 by $0.16. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. The business had revenue of $96,428,000 billion during the quarter, compared to analysts' expectations of $93.60 billion. On average, sell-side analysts predict that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be issued a dividend of $0.21 per share. 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 (DPR) is currently 8.95%.

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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