Evanson Financial Takes $60 Million Stake in Alphabet

Evanson Financial LLC has taken a $60.23 million position in Alphabet Inc., according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 168,544 shares of Alphabet's stock, valued at approximately $60,233,000. This represents about 3% of Evanson Financial's investment portfolio.

The news comes as institutional investors have been modifying their holdings in Alphabet. Other firms such as EMC Capital Management and Lifetime Wealth Management P.C. have also acquired new stakes in the company.

Alphabet reported strong quarterly earnings, with a net margin of 54.77% and a return on equity of 51.32%. The business has a 12 month high of $408.61 and a 12 month low of $196.60.