Evernest Financial Advisors LLC Decreases Position in Alphabet Inc. (NASDAQ:GOOG)

Evernest Financial Advisors LLC reduced its stake in Alphabet Inc. (NASDAQ:GOOG) by 1.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,898 shares of the information services provider’s stock after selling 118 shares during the period. Evernest Financial Advisors LLC’s holdings in Alphabet were worth $1,655,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GOOG. JPMorgan Chase & Co. grew its stake in Alphabet by 19.7% during the 1st quarter. JPMorgan Chase & Co. now owns 84,171,721 shares of the information services provider’s stock worth $12,815,986,000 after buying an additional 13,876,534 shares during the last quarter. Swedbank AB acquired a new stake in shares of Alphabet in the first quarter valued at approximately $1,378,708,000. Capital International Investors grew its position in shares of Alphabet by 9.3% during the first quarter. Capital International Investors now owns 87,716,562 shares of the information services provider’s stock worth $13,355,724,000 after acquiring an additional 7,470,042 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Alphabet by 51.8% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 6,416,150 shares of the information services provider’s stock valued at $976,923,000 after acquiring an additional 2,190,795 shares during the period. Finally, Vima LLC raised its position in Alphabet by 178,253.1% in the 1st quarter. Vima LLC now owns 2,001,122 shares of the information services provider’s stock valued at $304,691,000 after purchasing an additional 2,000,000 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Activity

In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total value of $3,652,875.00. Following the completion of the transaction, the chief executive officer now directly owns 2,182,385 shares of the company’s stock, valued at $354,310,204.75. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total value of $3,652,875.00. Following the completion of the transaction, the chief executive officer now owns 2,182,385 shares in the company, valued at $354,310,204.75. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Prabhakar Raghavan sold 34,257 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the completion of the sale, the senior vice president now owns 312,210 shares in the company, valued at $50,765,346. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 220,426 shares of company stock worth $35,993,340. Company insiders own 12.99% of the company’s stock.

Alphabet Trading Up 0.6 %

NASDAQ:GOOG opened at $166.82 on Wednesday. Alphabet Inc. has a 1 year low of $121.46 and a 1 year high of $193.31. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. The stock has a fifty day moving average price of $163.23 and a two-hundred day moving average price of $169.96. The stock has a market capitalization of $2.06 trillion, a price-to-earnings ratio of 25.59, a PEG ratio of 1.21 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The firm had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $84.22 billion. During the same quarter last year, the business earned $1.44 earnings per share. The business’s revenue for the quarter was up 13.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Alphabet Inc. will post 7.64 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on GOOG. Rosenblatt Securities downgraded shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective on the stock. in a research report on Friday, June 28th. TD Cowen boosted their price target on Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. DA Davidson raised Alphabet to a “hold” rating in a research note on Tuesday, September 10th. Scotiabank assumed coverage on Alphabet in a research note on Friday, October 11th. They issued a “sector outperform” rating and a $212.00 target price on the stock. Finally, Wolfe Research raised Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $186.90.

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.