Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Ellis Investment Partners LLC

Ellis Investment Partners LLC cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 29,271 shares of the information services provider’s stock after selling 90 shares during the quarter. Alphabet comprises approximately 1.1% of Ellis Investment Partners LLC’s investment portfolio, making the stock its 21st biggest position. Ellis Investment Partners LLC’s holdings in Alphabet were worth $5,541,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GOOGL. Schear Investment Advisers LLC grew its stake in shares of Alphabet by 17.0% in the third quarter. Schear Investment Advisers LLC now owns 33,751 shares of the information services provider’s stock valued at $5,598,000 after buying an additional 4,905 shares in the last quarter. Landscape Capital Management L.L.C. grew its position in Alphabet by 27.9% in the 3rd quarter. Landscape Capital Management L.L.C. now owns 25,275 shares of the information services provider’s stock valued at $4,192,000 after acquiring an additional 5,516 shares in the last quarter. abrdn plc increased its stake in Alphabet by 10.7% during the third quarter. abrdn plc now owns 6,305,717 shares of the information services provider’s stock worth $1,037,196,000 after purchasing an additional 611,233 shares during the period. Olistico Wealth LLC lifted its position in shares of Alphabet by 9.1% during the fourth quarter. Olistico Wealth LLC now owns 8,981 shares of the information services provider’s stock worth $1,700,000 after purchasing an additional 746 shares in the last quarter. Finally, Centaurus Financial Inc. boosted its stake in shares of Alphabet by 22.9% in the third quarter. Centaurus Financial Inc. now owns 61,540 shares of the information services provider’s stock valued at $10,206,000 after purchasing an additional 11,481 shares during the period. 40.03% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CAO Amie Thuener O’toole sold 1,367 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $170.41, for a total transaction of $232,950.47. Following the transaction, the chief accounting officer now directly owns 23,515 shares of the company’s stock, valued at $4,007,191.15. This represents a 5.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Ruth Porat sold 17,690 shares of the firm’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $183.48, for a total transaction of $3,245,761.20. Following the completion of the sale, the insider now owns 1,449,286 shares of the company’s stock, valued at $265,914,995.28. This trade represents a 1.21 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 134,188 shares of company stock valued at $25,036,883 over the last ninety days. Corporate insiders own 11.55% of the company’s stock.

Alphabet Trading Down 2.6 %

Shares of GOOGL stock opened at $168.27 on Friday. The company has a market capitalization of $2.05 trillion, a P/E ratio of 20.90, a price-to-earnings-growth ratio of 1.34 and a beta of 0.99. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The business’s 50 day moving average is $191.00 and its two-hundred day moving average is $176.06. Alphabet Inc. has a twelve month low of $130.66 and a twelve month high of $207.05.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. Equities analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be paid a dividend of $0.20 per share. The ex-dividend date is Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.48%. Alphabet’s dividend payout ratio (DPR) is 9.94%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Bank of America reaffirmed a “buy” rating and set a $210.00 target price on shares of Alphabet in a research note on Monday, December 23rd. DA Davidson upped their price objective on Alphabet from $190.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday, January 24th. Needham & Company LLC reiterated a “buy” rating and issued a $225.00 target price on shares of Alphabet in a report on Wednesday, February 5th. Loop Capital upped their price target on Alphabet from $170.00 to $185.00 and gave the stock a “hold” rating in a report on Wednesday, November 6th. Finally, China Renaissance upgraded Alphabet from a “hold” rating to a “buy” rating in a research note on Thursday, October 31st. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $210.62.

About Alphabet

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.