Ellis Investment Partners LLC Has $4.31 Million Position in Alphabet Inc. (NASDAQ:GOOGL)

Ellis Investment Partners LLC raised its stake in Alphabet Inc. (NASDAQ:GOOGL) by 8.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,548 shares of the information services provider’s stock after buying an additional 2,258 shares during the period. Alphabet accounts for 0.9% of Ellis Investment Partners LLC’s holdings, making the stock its 22nd largest holding. Ellis Investment Partners LLC’s holdings in Alphabet were worth $4,309,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of GOOGL. Vanguard Group Inc. boosted its position in Alphabet by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 493,810,251 shares of the information services provider’s stock worth $68,980,354,000 after buying an additional 6,374,756 shares during the period. Norges Bank acquired a new position in shares of Alphabet during the fourth quarter worth $15,441,917,000. Fisher Asset Management LLC grew its stake in shares of Alphabet by 3.4% in the fourth quarter. Fisher Asset Management LLC now owns 45,220,857 shares of the information services provider’s stock worth $6,316,902,000 after purchasing an additional 1,472,043 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Alphabet by 2.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 34,910,194 shares of the information services provider’s stock valued at $4,876,605,000 after purchasing an additional 874,919 shares during the period. Finally, Capital International Investors raised its position in Alphabet by 2.3% during the 4th quarter. Capital International Investors now owns 30,408,933 shares of the information services provider’s stock worth $4,247,868,000 after purchasing an additional 686,514 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on GOOGL. Loop Capital increased their price target on Alphabet from $155.00 to $170.00 and gave the company a “hold” rating in a research note on Wednesday, May 1st. Wells Fargo & Company raised their price target on shares of Alphabet from $141.00 to $168.00 and gave the stock an “equal weight” rating in a report on Friday, April 26th. Robert W. Baird upped their price objective on shares of Alphabet from $160.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Sanford C. Bernstein lifted their target price on shares of Alphabet from $165.00 to $180.00 and gave the stock a “market perform” rating in a research note on Friday, April 26th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $195.00 price target on shares of Alphabet in a research report on Wednesday, May 15th. Six equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $193.66.

Alphabet Stock Down 1.8 %

GOOGL opened at $182.15 on Friday. Alphabet Inc. has a fifty-two week low of $115.35 and a fifty-two week high of $186.05. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.15. The company’s 50-day moving average is $172.85 and its 200 day moving average is $154.14. The firm has a market capitalization of $2.25 trillion, a P/E ratio of 27.94, a PEG ratio of 1.38 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.40. The firm had revenue of $80.54 billion for the quarter, compared to the consensus estimate of $66.04 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. During the same quarter in the previous year, the business earned $1.17 EPS. Research analysts expect that Alphabet Inc. will post 7.6 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 10th were paid a $0.20 dividend. The ex-dividend date of this dividend was Monday, June 10th. This represents a $0.80 dividend on an annualized basis and a yield of 0.44%. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

Insider Transactions at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $177.40, for a total value of $3,991,500.00. Following the transaction, the chief executive officer now directly owns 2,213,011 shares in the company, valued at $392,588,151.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $177.40, for a total value of $3,991,500.00. Following the sale, the chief executive officer now directly owns 2,213,011 shares in the company, valued at $392,588,151.40. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director John L. Hennessy sold 1,500 shares of the stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $177.92, for a total value of $266,880.00. Following the transaction, the director now owns 3,727 shares of the company’s stock, valued at approximately $663,107.84. The disclosure for this sale can be found here. Insiders have sold 146,284 shares of company stock worth $24,534,393 in the last ninety days. Company insiders own 11.55% of the company’s stock.

Alphabet Company 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.