Evolutionary Tree Capital Management LLC Has $4.25 Million Position in Alphabet Inc. $GOOGL

Key Points

• Evolutionary Tree Capital Management cut its Alphabet position by 28.4% in the first quarter, selling 5,867 shares and retaining 14,768 shares worth approximately $4.25 million. Alphabet remains the fund’s largest holding at 8% of its portfolio.
• Analyst sentiment remains positive, with a consensus “Buy” rating and an average price target of $419.86, supported by six Strong Buy and 44 Buy ratings.
• Alphabet reported quarterly earnings of $9.11 per share and revenue of $119.8 billion, exceeding analyst expectations. The company also declared a quarterly dividend of $0.22 per share, equivalent to a 0.2% annual yield.

Evolutionary Tree Capital Management LLC reduced its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 28.4% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 14,768 shares of the information services provider's stock after selling 5,867 shares during the quarter. Alphabet makes up 8.0% of Evolutionary Tree Capital Management LLC's portfolio, making the stock its biggest position. Evolutionary Tree Capital Management LLC's holdings in Alphabet were worth $4,247,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Strategic Wealth Advisors LLC lifted its position in shares of Alphabet by 6.0% in the 1st quarter. Strategic Wealth Advisors LLC now owns 477 shares of the information services provider's stock valued at $137,000 after acquiring an additional 27 shares in the last quarter. Rockbridge Investment Management LCC grew its position in Alphabet by 0.5% during the 1st quarter. Rockbridge Investment Management LCC now owns 5,460 shares of the information services provider's stock worth $1,570,000 after purchasing an additional 27 shares in the last quarter. Cadia Private Client LLC raised its stake in Alphabet by 1.1% during the 1st quarter. Cadia Private Client LLC now owns 2,589 shares of the information services provider's stock valued at $744,000 after purchasing an additional 28 shares during the period. Midwest Professional Planners LTD. lifted its holdings in shares of Alphabet by 1.2% in the first quarter. Midwest Professional Planners LTD. now owns 2,364 shares of the information services provider's stock valued at $680,000 after purchasing an additional 29 shares in the last quarter. Finally, Symmetry Partners LLC lifted its holdings in shares of Alphabet by 0.4% in the fourth quarter. Symmetry Partners LLC now owns 7,912 shares of the information services provider's stock valued at $2,476,000 after purchasing an additional 30 shares in the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director Frances Arnold sold 82 shares of the business's stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $333.39, for a total value of $27,337.98. Following the completion of the sale, the director owned 18,914 shares of the company's stock, valued at $6,305,738.46. The trade was a 0.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Marsida Saraci sold 449 shares of the stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $333.20, for a total value of $149,606.80. Following the transaction, the chief accounting officer directly owned 27,386 shares in the company, valued at approximately $9,125,015.20. This represents a 1.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 600,547 shares of company stock worth $16,255,540 in the last 90 days. 11.61% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts recently weighed in on GOOGL shares. Freedom Capital raised Alphabet from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 23rd. Jefferies Financial Group restated a "buy" rating on shares of Alphabet in a research report on Monday, June 22nd. Arete Research upped their target price on Alphabet from $405.00 to $425.00 and gave the company a "buy" rating in a report on Monday, May 18th. Loop Capital raised their price target on shares of Alphabet from $355.00 to $490.00 and gave the stock a "buy" rating in a report on Friday, May 15th. Finally, Wolfe Research dropped their price objective on shares of Alphabet from $390.00 to $360.00 and set an "outperform" rating on the stock in a research note on Friday, April 10th. Six investment analysts have rated the stock with a Strong Buy rating, forty-four have assigned a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $419.86.

Alphabet Stock Down 1.0%

Shares of Alphabet stock opened at $354.30 on Friday. The firm has a market cap of $4.33 trillion, a price-to-earnings ratio of 17.80, a P/E/G ratio of 1.00 and a beta of 1.24. The stock has a 50-day simple moving average of $355.68 and a 200-day simple moving average of $340.41. Alphabet Inc. has a 52-week low of $196.60 and a 52-week high of $408.61. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.72 and a quick ratio of 2.64.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings data on Wednesday, July 22nd. The information services provider reported $9.11 earnings per share for the quarter, beating the consensus estimate of $2.89 by $6.22. The firm had revenue of $119.80 billion for the quarter, compared to analyst estimates of $117.07 billion. Alphabet had a net margin of 54.77% and a return on equity of 51.32%. On average, equities research analysts expect that Alphabet Inc. will post 20.51 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 14th. Stockholders of record on Monday, September 7th will be issued a dividend of $0.22 per share. The ex-dividend date is Friday, September 4th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.2%. Alphabet's dividend payout ratio (DPR) is currently 4.42%.

More Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Google Cloud revenue reportedly increased 82% in the second quarter, with backlog reaching $514 billion, while the Gemini app reached approximately 950 million monthly active users. The results reinforce the commercial demand supporting Alphabet’s AI and cloud investments. Google's AI business is booming, so why are DeepMind's biggest names quitting?
• Positive Sentiment: Analysts and investors continue to highlight Alphabet’s strong cash generation, balance sheet and valuation relative to its growth prospects. Some market models see the shares reaching $400 as Cloud momentum and AI monetization continue. Price Prediction: Google Will Hit $400 on This Date
• Positive Sentiment: Alphabet’s expanded Google Cloud partnership with AI lab Mirendil, reportedly worth more than $100 million over multiple years, provides another example of demand for its computing infrastructure. Mirendil Google Cloud deal

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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