Adell Harriman & Carpenter Inc. Has $26.24 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Adell Harriman & Carpenter Inc. increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 144,068 shares of the information services provider’s stock after purchasing an additional 4,903 shares during the period. Alphabet makes up about 2.0% of Adell Harriman & Carpenter Inc.’s holdings, making the stock its 14th biggest position. Adell Harriman & Carpenter Inc.’s holdings in Alphabet were worth $26,242,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Christopher J. Hasenberg Inc grew its stake in shares of Alphabet by 75.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after buying an additional 60 shares during the period. Kings Path Partners LLC bought a new position in shares of Alphabet in the 2nd quarter worth $36,000. Tributary Capital Management LLC acquired a new stake in Alphabet in the 1st quarter valued at $30,000. Vermillion & White Wealth Management Group LLC bought a new stake in Alphabet during the 4th quarter valued at $30,000. Finally, CarsonAllaria Wealth Management Ltd. raised its holdings in Alphabet by 59.2% during the first quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock worth $44,000 after buying an additional 109 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $158.06 on Tuesday. The stock’s 50-day simple moving average is $166.84 and its two-hundred day simple moving average is $165.01. Alphabet Inc. has a twelve month low of $120.21 and a twelve month high of $191.75. The firm has a market capitalization of $1.95 trillion, a P/E ratio of 24.24, a P/E/G ratio of 1.13 and a beta of 1.04. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The firm had revenue of $84.74 billion for the quarter, compared to the consensus estimate of $70.60 billion. During the same quarter in the previous year, the business earned $1.44 earnings per share. As a group, equities analysts anticipate that Alphabet Inc. will post 7.64 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were paid a $0.20 dividend. The ex-dividend date of this dividend was Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.51%. Alphabet’s dividend payout ratio (DPR) is currently 12.27%.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total transaction of $125,126.54. Following the completion of the sale, the chief accounting officer now owns 30,650 shares of the company’s stock, valued at approximately $5,623,355.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $177.40, for a total transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total transaction of $125,126.54. Following the completion of the transaction, the chief accounting officer now owns 30,650 shares of the company’s stock, valued at $5,623,355.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 180,167 shares of company stock worth $30,139,931. 11.55% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms have recently commented on GOOGL. Evercore ISI decreased their target price on shares of Alphabet from $225.00 to $200.00 and set an “outperform” rating for the company in a research report on Monday. Loop Capital reissued a “hold” rating and issued a $170.00 price target on shares of Alphabet in a research report on Wednesday, July 3rd. Wedbush restated an “outperform” rating and set a $205.00 price target on shares of Alphabet in a report on Thursday, September 5th. JPMorgan Chase & Co. increased their price target on Alphabet from $200.00 to $208.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Finally, Wolfe Research assumed coverage on shares of Alphabet in a report on Tuesday, July 16th. They issued an “outperform” rating and a $240.00 price target on the stock. Eight analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $201.08.

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.