Evolution Wealth Advisors LLC Grows Position in Alphabet Inc (NASDAQ:GOOG)

Evolution Wealth Advisors LLC grew its stake in shares of Alphabet Inc (NASDAQ:GOOG) by 15.0% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,380 shares of the information services provider’s stock after purchasing an additional 180 shares during the quarter. Evolution Wealth Advisors LLC’s holdings in Alphabet were worth $2,028,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Exane Asset Management purchased a new stake in Alphabet in the third quarter worth $3,066,000. FormulaFolio Investments LLC lifted its stake in Alphabet by 7.2% in the third quarter. FormulaFolio Investments LLC now owns 430 shares of the information services provider’s stock worth $632,000 after acquiring an additional 29 shares during the period. Measured Wealth Private Client Group LLC purchased a new stake in Alphabet in the third quarter worth $253,000. DAVENPORT & Co LLC lifted its stake in Alphabet by 20.7% in the third quarter. DAVENPORT & Co LLC now owns 53,737 shares of the information services provider’s stock worth $78,972,000 after acquiring an additional 9,207 shares during the period. Finally, Epstein & White Financial LLC purchased a new stake in Alphabet in the third quarter worth $242,000. 32.42% of the stock is owned by hedge funds and other institutional investors.

In related news, Director John L. Hennessy sold 60 shares of Alphabet stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $1,538.29, for a total value of $92,297.40. Following the completion of the sale, the director now directly owns 517 shares in the company, valued at approximately $795,295.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Ann Mather sold 22 shares of Alphabet stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $1,484.27, for a total value of $32,653.94. Following the completion of the sale, the director now owns 1,134 shares of the company’s stock, valued at $1,683,162.18. The disclosure for this sale can be found here. Insiders have sold 142 shares of company stock valued at $213,357 over the last 90 days. Corporate insiders own 12.99% of the company’s stock.

A number of analysts recently commented on the company. Goldman Sachs Group reaffirmed a “buy” rating on shares of Alphabet in a research note on Friday, July 31st. KeyCorp assumed coverage on Alphabet in a research note on Monday, September 14th. They issued an “overweight” rating for the company. Deutsche Bank Aktiengesellschaft raised their price target on Alphabet from $1,975.00 to $2,020.00 and gave the stock a “buy” rating in a research note on Monday, October 12th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Alphabet in a research note on Monday, October 12th. Finally, Robert W. Baird raised their price objective on Alphabet from $1,650.00 to $1,675.00 in a research report on Friday, July 31st. Four investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $1,703.33.

Shares of NASDAQ:GOOG opened at $1,573.01 on Friday. Alphabet Inc has a 1-year low of $1,013.54 and a 1-year high of $1,733.18. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.41 and a quick ratio of 3.40. The business has a fifty day moving average price of $1,525.61 and a 200-day moving average price of $1,436.75. The company has a market capitalization of $1,069.90 billion, a PE ratio of 34.59, a PEG ratio of 2.16 and a beta of 1.10.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Thursday, July 30th. The information services provider reported $10.13 earnings per share for the quarter, beating the consensus estimate of $8.43 by $1.70. Alphabet had a return on equity of 15.62% and a net margin of 18.99%. The firm had revenue of $31.60 billion during the quarter, compared to the consensus estimate of $30.58 billion. On average, sell-side analysts anticipate that Alphabet Inc will post 44.84 earnings per share for the current fiscal year.

About Alphabet

Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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