Evercore Wealth Management LLC Has $38.55 Million Holdings in Alphabet Inc (GOOGL)

Evercore Wealth Management LLC lessened its stake in shares of Alphabet Inc (NASDAQ:GOOGL) by 3.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 39,590 shares of the information services provider’s stock after selling 1,328 shares during the quarter. Alphabet comprises about 1.5% of Evercore Wealth Management LLC’s investment portfolio, making the stock its 27th biggest position. Evercore Wealth Management LLC’s holdings in Alphabet were worth $38,550,000 as of its most recent filing with the SEC.

A number of other large investors also recently made changes to their positions in GOOGL. Legacy Capital Partners Inc. boosted its holdings in shares of Alphabet by 0.8% during the second quarter. Legacy Capital Partners Inc. now owns 600 shares of the information services provider’s stock worth $558,000 after purchasing an additional 5 shares during the last quarter. Essex Investment Management Co. LLC boosted its holdings in shares of Alphabet by 0.4% during the second quarter. Essex Investment Management Co. LLC now owns 8,008 shares of the information services provider’s stock worth $7,445,000 after purchasing an additional 32 shares during the last quarter. Enterprise Financial Services Corp boosted its holdings in shares of Alphabet by 3.1% during the second quarter. Enterprise Financial Services Corp now owns 1,098 shares of the information services provider’s stock worth $1,021,000 after purchasing an additional 33 shares during the last quarter. Kanawha Capital Management LLC boosted its holdings in shares of Alphabet by 2.4% during the second quarter. Kanawha Capital Management LLC now owns 5,333 shares of the information services provider’s stock worth $4,958,000 after purchasing an additional 126 shares during the last quarter. Finally, Stratos Wealth Partners LTD. boosted its holdings in shares of Alphabet by 22.6% during the second quarter. Stratos Wealth Partners LTD. now owns 8,792 shares of the information services provider’s stock worth $8,174,000 after purchasing an additional 1,619 shares during the last quarter. Hedge funds and other institutional investors own 33.29% of the company’s stock.

Alphabet Inc (NASDAQ GOOGL) opened at $1,095.50 on Tuesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.14 and a quick ratio of 5.11. Alphabet Inc has a 52-week low of $824.30 and a 52-week high of $1,198.00. The company has a market capitalization of $761,134.81, a PE ratio of 61.00, a price-to-earnings-growth ratio of 1.13 and a beta of 0.94.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Thursday, February 1st. The information services provider reported $9.70 EPS for the quarter, missing the consensus estimate of $10.12 by ($0.42). Alphabet had a net margin of 11.42% and a return on equity of 14.94%. The company had revenue of $25.87 billion during the quarter, compared to analysts’ expectations of $25.65 billion. equities research analysts anticipate that Alphabet Inc will post 42.52 EPS for the current fiscal year.

Alphabet announced that its Board of Directors has authorized a stock repurchase plan on Thursday, February 1st that allows the company to buyback $8.59 billion in shares. This buyback authorization allows the information services provider to purchase shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

GOOGL has been the topic of several analyst reports. Goldman Sachs Group raised their price objective on Alphabet from $1,125.00 to $1,175.00 in a report on Friday, October 27th. SunTrust Banks decreased their price objective on Alphabet from $1,250.00 to $1,180.00 in a report on Monday, January 15th. Argus raised their price objective on Alphabet to $1,300.00 in a report on Monday, February 5th. KeyCorp restated a “buy” rating and set a $1,150.00 price objective on shares of Alphabet in a report on Friday, October 27th. Finally, Barclays restated a “buy” rating and set a $1,260.00 price objective on shares of Alphabet in a report on Friday, October 27th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirty-nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $1,157.02.

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Alphabet Profile

Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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