Ellis Investment Partners LLC Has $5.54 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Ellis Investment Partners LLC lowered its stake in Alphabet Inc. (NASDAQ:GOOGL) by 0.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor 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 holding. Ellis Investment Partners LLC’s holdings in Alphabet were worth $5,541,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. LMR Partners LLP bought a new position in Alphabet in the third quarter valued at $32,000. E Fund Management Hong Kong Co. Ltd. lifted its position in shares of Alphabet by 518.8% in the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock valued at $37,000 after buying an additional 166 shares during the last quarter. Fiduciary Advisors Inc. acquired a new stake in Alphabet during the 4th quarter valued at $39,000. PayPay Securities Corp boosted its holdings in shares of Alphabet by 36.1% during the 4th quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock worth $46,000 after buying an additional 65 shares during the period. Finally, Denver PWM LLC boosted its holdings in shares of Alphabet by 25.4% during the third quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock worth $47,000 after acquiring an additional 57 shares during the period. Institutional investors own 40.03% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on GOOGL shares. Morgan Stanley dropped their target price on Alphabet from $215.00 to $210.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. Wedbush raised their target price on shares of Alphabet from $210.00 to $220.00 and gave the stock an “outperform” rating in a report on Monday, January 6th. The Goldman Sachs Group reiterated a “buy” rating and issued a $210.00 price target on shares of Alphabet in a research note on Thursday, December 12th. KeyCorp lifted their price objective on Alphabet from $215.00 to $225.00 and gave the company an “overweight” rating in a report on Friday, January 10th. Finally, Bank of America reissued a “buy” rating and set a $210.00 target price on shares of Alphabet in a report on Monday, December 23rd. Ten analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $210.62.

Alphabet Trading Down 2.6 %

NASDAQ GOOGL opened at $168.27 on Friday. The stock has a market capitalization of $2.05 trillion, a P/E ratio of 20.90, a P/E/G ratio of 1.34 and a beta of 0.99. Alphabet Inc. has a one year low of $130.66 and a one year high of $207.05. The business has a 50 day simple moving average of $191.00 and a 200 day simple moving average of $176.06. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. Research analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend 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 presently 9.94%.

Insider Activity

In other news, Director Kavitark Ram Shriram sold 37,134 shares of the business’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $185.02, for a total transaction of $6,870,532.68. Following the completion of the sale, the director now directly owns 282,832 shares of the company’s stock, valued at $52,329,576.64. The trade was a 11.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Amie Thuener O’toole sold 1,367 shares of Alphabet stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $170.41, for a total value of $232,950.47. Following the transaction, the chief accounting officer now owns 23,515 shares of the company’s stock, valued at $4,007,191.15. This trade represents a 5.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 134,188 shares of company stock worth $25,036,883 in the last three months. Company insiders own 11.55% of the company’s stock.

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.