Evolution Wealth Advisors LLC Has $9.67 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Evolution Wealth Advisors LLC increased its position in Alphabet Inc. (NASDAQ:GOOG) by 1.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 57,865 shares of the information services provider’s stock after purchasing an additional 760 shares during the quarter. Alphabet makes up 1.7% of Evolution Wealth Advisors LLC’s portfolio, making the stock its 14th biggest position. Evolution Wealth Advisors LLC’s holdings in Alphabet were worth $9,673,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in GOOG. China Universal Asset Management Co. Ltd. boosted its stake in Alphabet by 360.1% in the first quarter. China Universal Asset Management Co. Ltd. now owns 20,249 shares of the information services provider’s stock valued at $3,083,000 after acquiring an additional 15,848 shares during the last quarter. Quent Capital LLC lifted its stake in shares of Alphabet by 5.8% in the 1st quarter. Quent Capital LLC now owns 32,706 shares of the information services provider’s stock valued at $4,980,000 after purchasing an additional 1,798 shares during the period. Empowered Funds LLC boosted its position in shares of Alphabet by 19.0% in the 1st quarter. Empowered Funds LLC now owns 86,040 shares of the information services provider’s stock worth $13,100,000 after purchasing an additional 13,756 shares during the last quarter. Fiducient Advisors LLC grew its stake in shares of Alphabet by 10.1% during the first quarter. Fiducient Advisors LLC now owns 7,240 shares of the information services provider’s stock worth $1,102,000 after purchasing an additional 666 shares during the period. Finally, South Street Advisors LLC increased its holdings in Alphabet by 19.6% in the first quarter. South Street Advisors LLC now owns 4,890 shares of the information services provider’s stock valued at $745,000 after purchasing an additional 800 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

GOOG has been the subject of a number of recent analyst reports. DA Davidson raised Alphabet to a “hold” rating in a research note on Tuesday, September 10th. Jefferies Financial Group increased their target price on shares of Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Cantor Fitzgerald raised shares of Alphabet to a “hold” rating in a research report on Thursday, September 5th. Seaport Res Ptn upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Finally, Barclays lifted their target price on Alphabet from $200.00 to $220.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Five analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $200.56.

Alphabet Price Performance

NASDAQ:GOOG opened at $173.89 on Friday. Alphabet Inc. has a 52-week low of $129.40 and a 52-week high of $193.31. The company has a market cap of $2.13 trillion, a P/E ratio of 23.06, a P/E/G ratio of 1.27 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The stock’s 50-day simple moving average is $167.01 and its 200 day simple moving average is $171.65.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The company had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $86.39 billion. During the same quarter in the prior year, the business posted $1.55 EPS. The business’s revenue was up 15.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Alphabet Inc. will post 7.99 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.46%. Alphabet’s dividend payout ratio (DPR) is currently 10.61%.

Insider Buying and Selling

In other news, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $177.41, for a total value of $1,862,805.00. Following the transaction, the director now directly owns 319,966 shares of the company’s stock, valued at $56,765,168.06. This represents a 3.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $177.36, for a total transaction of $3,990,600.00. Following the sale, the chief executive officer now directly owns 2,084,306 shares of the company’s stock, valued at $369,672,512.16. The trade was a 1.07 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 206,795 shares of company stock worth $34,471,141. Company insiders own 12.99% of the company’s stock.

About Alphabet

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.