Adell Harriman & Carpenter Inc. Purchases 3,083 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Adell Harriman & Carpenter Inc. increased its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 2.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 133,437 shares of the information services provider’s stock after purchasing an additional 3,083 shares during the period. Alphabet makes up about 1.7% of Adell Harriman & Carpenter Inc.’s investment portfolio, making the stock its 15th largest position. Adell Harriman & Carpenter Inc.’s holdings in Alphabet were worth $18,640,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of GOOGL. Meritage Group LP lifted its position in Alphabet by 1,061.5% in the third quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock worth $40,000 after buying an additional 276 shares during the last quarter. Macroview Investment Management LLC raised its stake in shares of Alphabet by 165.8% in the third quarter. Macroview Investment Management LLC now owns 319 shares of the information services provider’s stock valued at $42,000 after acquiring an additional 199 shares during the period. Armor Investment Advisors LLC lifted its holdings in shares of Alphabet by 31.0% in the 4th quarter. Armor Investment Advisors LLC now owns 338 shares of the information services provider’s stock worth $47,000 after acquiring an additional 80 shares during the last quarter. IAG Wealth Partners LLC boosted its stake in shares of Alphabet by 55.9% during the 4th quarter. IAG Wealth Partners LLC now owns 343 shares of the information services provider’s stock worth $48,000 after purchasing an additional 123 shares during the period. Finally, Valued Wealth Advisors LLC bought a new position in Alphabet during the 4th quarter valued at about $55,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Buying and Selling at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $143.08, for a total value of $3,219,300.00. Following the completion of the transaction, the chief executive officer now directly owns 2,355,191 shares in the company, valued at $336,980,728.28. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $143.08, for a total transaction of $3,219,300.00. Following the completion of the transaction, the chief executive officer now owns 2,355,191 shares of the company’s stock, valued at $336,980,728.28. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $136.49, for a total transaction of $93,086.18. Following the transaction, the chief accounting officer now owns 28,602 shares of the company’s stock, valued at $3,903,886.98. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 252,629 shares of company stock worth $37,091,240. 0.88% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts have issued reports on GOOGL shares. Mizuho raised their price objective on shares of Alphabet from $170.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Raymond James boosted their price objective on Alphabet from $160.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Sanford C. Bernstein upped their price objective on Alphabet from $165.00 to $180.00 and gave the company a “market perform” rating in a research report on Friday, April 26th. Robert W. Baird boosted their target price 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. Finally, Evercore ISI upped their price target on shares of Alphabet from $160.00 to $220.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Five research analysts have rated the stock with a hold rating, thirty have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $190.60.

Alphabet Stock Performance

GOOGL opened at $171.25 on Wednesday. The company has a market cap of $2.12 trillion, a P/E ratio of 26.27, a price-to-earnings-growth ratio of 1.28 and a beta of 1.02. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. The firm’s 50-day moving average price is $151.40 and its 200-day moving average price is $142.83. Alphabet Inc. has a 52-week low of $105.16 and a 52-week high of $174.71.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.40. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The business had revenue of $80.54 billion for the quarter, compared to analyst estimates of $66.04 billion. During the same quarter in the prior year, the business posted $1.17 EPS. As a group, equities analysts anticipate that Alphabet Inc. will post 7.57 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 10th will be given a dividend of $0.20 per share. The ex-dividend date is Monday, June 10th. This represents a $0.80 dividend on an annualized basis and a yield of 0.47%.

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.