Everence Capital Management Inc. Buys New Stake in Alphabet Inc. (NASDAQ:GOOG)

Everence Capital Management Inc. purchased a new stake in shares of Alphabet Inc. (NASDAQ:GOOG) during the 1st quarter, HoldingsChannel reports. The firm purchased 7,156 shares of the information services provider’s stock, valued at approximately $14,803,000. Alphabet makes up 1.3% of Everence Capital Management Inc.’s portfolio, making the stock its 10th largest holding.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GOOG. Trust Co. of Toledo NA OH grew its position in shares of Alphabet by 0.9% during the 1st quarter. Trust Co. of Toledo NA OH now owns 1,441 shares of the information services provider’s stock valued at $2,981,000 after acquiring an additional 13 shares during the period. MKD Wealth Coaches LLC acquired a new stake in shares of Alphabet during the 1st quarter valued at about $103,000. American Research & Management Co. grew its position in shares of Alphabet by 4.5% during the 1st quarter. American Research & Management Co. now owns 1,442 shares of the information services provider’s stock valued at $2,982,000 after acquiring an additional 62 shares during the period. Means Investment CO. Inc. grew its position in shares of Alphabet by 1.9% during the 1st quarter. Means Investment CO. Inc. now owns 4,006 shares of the information services provider’s stock valued at $8,288,000 after acquiring an additional 76 shares during the period. Finally, Security National Bank grew its position in shares of Alphabet by 73.8% during the 1st quarter. Security National Bank now owns 424 shares of the information services provider’s stock valued at $877,000 after acquiring an additional 180 shares during the period. 31.94% of the stock is owned by institutional investors.

GOOG has been the topic of several research analyst reports. Raymond James lifted their price objective on Alphabet from $1,800.00 to $2,440.00 and gave the stock an “outperform” rating in a report on Wednesday, February 3rd. They noted that the move was a valuation call. Morgan Stanley lifted their price objective on Alphabet from $2,050.00 to $2,200.00 and gave the stock an “overweight” rating in a report on Wednesday, February 3rd. Evercore ISI initiated coverage on Alphabet in a report on Tuesday. They issued an “outperform” rating and a $2,525.00 price objective on the stock. Mizuho lifted their price objective on Alphabet from $2,100.00 to $2,350.00 and gave the stock a “buy” rating in a report on Wednesday, February 3rd. Finally, Wolfe Research assumed coverage on shares of Alphabet in a research note on Wednesday, March 31st. They issued an “outperform” rating and a $2,450.00 target price on the stock. One research analyst has rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $2,244.11.

NASDAQ GOOG traded up $12.44 on Thursday, reaching $2,262.12. The stock had a trading volume of 37,864 shares, compared to its average volume of 1,599,775. The firm has a market capitalization of $1.52 trillion, a price-to-earnings ratio of 43.84, a P/E/G ratio of 1.66 and a beta of 0.98. The company has a quick ratio of 3.39, a current ratio of 3.41 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 12-month low of $1,187.60 and a 12-month high of $2,255.00. The stock has a fifty day moving average price of $2,078.40 and a two-hundred day moving average price of $1,819.99.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Monday, February 1st. The information services provider reported $22.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $15.91 by $6.39. The company had revenue of $56.90 billion for the quarter, compared to analyst estimates of $52.86 billion. Alphabet had a return on equity of 17.31% and a net margin of 20.80%. The firm’s quarterly revenue was up 23.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $15.35 earnings per share. Sell-side analysts forecast that Alphabet Inc. will post 52.19 earnings per share for the current fiscal year.

In other Alphabet news, SVP Philipp Schindler sold 1,385 shares of the business’s stock in a transaction on Monday, February 1st. The shares were sold at an average price of $1,852.09, for a total value of $2,565,144.65. Following the completion of the transaction, the senior vice president now owns 18,712 shares in the company, valued at $34,656,308.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 30 shares of the business’s stock in a transaction on Monday, April 5th. The stock was sold at an average price of $2,152.94, for a total transaction of $64,588.20. Following the completion of the transaction, the chief accounting officer now owns 966 shares of the company’s stock, valued at approximately $2,079,740.04. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,034 shares of company stock valued at $28,870,417. Insiders own 12.99% of the company’s stock.

Alphabet Profile

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

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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