Evelyn Partners Investment Management LLP Has $32.47 Million Position in Alphabet Inc. $GOOG

Evelyn Partners Investment Management LLP raised its stake in Alphabet Inc. (NASDAQ:GOOG) by 2,851.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 183,034 shares of the information services provider’s stock after buying an additional 176,832 shares during the period. Alphabet comprises about 1.5% of Evelyn Partners Investment Management LLP’s portfolio, making the stock its 15th biggest position. Evelyn Partners Investment Management LLP’s holdings in Alphabet were worth $32,468,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in GOOG. Vanguard Group Inc. raised its holdings in Alphabet by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 416,753,033 shares of the information services provider’s stock worth $73,927,821,000 after purchasing an additional 5,182,111 shares during the last quarter. Kingstone Capital Partners Texas LLC increased its position in shares of Alphabet by 580,897.4% during the second quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider’s stock worth $23,963,208,000 after buying an additional 135,064,454 shares during the period. Geode Capital Management LLC increased its position in shares of Alphabet by 0.4% during the second quarter. Geode Capital Management LLC now owns 107,760,033 shares of the information services provider’s stock worth $19,022,926,000 after buying an additional 441,177 shares during the period. JPMorgan Chase & Co. raised its stake in Alphabet by 9.9% during the first quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider’s stock worth $15,971,861,000 after buying an additional 9,243,959 shares during the last quarter. Finally, Sanders Capital LLC lifted its holdings in Alphabet by 6.4% in the second quarter. Sanders Capital LLC now owns 35,357,943 shares of the information services provider’s stock valued at $6,272,146,000 after buying an additional 2,117,990 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Morgan Stanley increased their price target on Alphabet from $210.00 to $270.00 and gave the stock an “overweight” rating in a report on Thursday, October 2nd. KeyCorp restated an “overweight” rating and set a $330.00 target price on shares of Alphabet in a research report on Thursday, October 30th. Raymond James Financial set a $275.00 target price on Alphabet and gave the stock an “outperform” rating in a report on Friday, October 24th. Robert W. Baird boosted their price target on Alphabet from $215.00 to $275.00 and gave the company an “outperform” rating in a research note on Monday, September 22nd. Finally, Pivotal Research raised their price objective on shares of Alphabet from $300.00 to $350.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Seven analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $324.81.

Alphabet Stock Performance

Shares of GOOG stock opened at $299.65 on Friday. 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 firm has a fifty day simple moving average of $262.98 and a two-hundred day simple moving average of $213.90. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $306.89. The firm has a market capitalization of $3.62 trillion, a PE ratio of 29.55, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Thursday, October 30th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. The firm had revenue of $102.35 billion during the quarter, compared to analysts’ expectations of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The business’s revenue was up 15.9% on a year-over-year basis. During the same period last year, the company earned $2.12 earnings per share. Analysts forecast that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 8th will be paid a dividend of $0.21 per share. The ex-dividend date is Monday, December 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. Alphabet’s payout ratio is 8.28%.

Insider Buying and Selling

In related news, Director John L. Hennessy sold 600 shares of the company’s stock in a transaction on Thursday, November 13th. The stock was sold at an average price of $280.06, for a total transaction of $168,036.00. Following the completion of the sale, the director owned 4,516 shares in the company, valued at approximately $1,264,750.96. This represents a 11.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 2,778 shares of the stock in a transaction on Monday, November 17th. The shares were sold at an average price of $288.26, for a total value of $800,786.28. Following the completion of the sale, the chief accounting officer directly owned 11,739 shares of the company’s stock, valued at $3,383,884.14. The trade was a 19.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 227,952 shares of company stock valued at $58,896,009. Company insiders own 12.99% of the company’s stock.

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.