Ellis Investment Partners LLC Sells 90 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Ellis Investment Partners LLC lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 29,271 shares of the information services provider’s stock after selling 90 shares during the quarter. Alphabet makes up approximately 1.1% of Ellis Investment Partners LLC’s portfolio, making the stock its 21st largest holding. Ellis Investment Partners LLC’s holdings in Alphabet were worth $5,541,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Schear Investment Advisers LLC grew its holdings in Alphabet by 17.0% during 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 purchasing an additional 4,905 shares during the period. Landscape Capital Management L.L.C. increased its holdings 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 worth $4,192,000 after acquiring an additional 5,516 shares during the last quarter. abrdn plc lifted its holdings in Alphabet by 10.7% during the third quarter. abrdn plc now owns 6,305,717 shares of the information services provider’s stock valued at $1,037,196,000 after purchasing an additional 611,233 shares during the last quarter. Olistico Wealth LLC increased its stake in shares of Alphabet by 9.1% in 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. lifted its stake in shares of Alphabet by 22.9% during the 3rd quarter. Centaurus Financial Inc. now owns 61,540 shares of the information services provider’s stock valued at $10,206,000 after buying an additional 11,481 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on GOOGL shares. Cantor Fitzgerald dropped their target price on Alphabet from $215.00 to $210.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 22nd. Citizens Jmp lowered Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. JMP Securities reissued a “market perform” rating on shares of Alphabet in a report on Wednesday, February 5th. Morgan Stanley reduced their price objective on shares of Alphabet from $215.00 to $210.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. Finally, Wolfe Research raised their price target on shares of Alphabet from $220.00 to $230.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Ten investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $210.62.

Insider Buying and Selling

In other Alphabet news, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $194.22, for a total transaction of $291,330.00. Following the completion of the transaction, the director now owns 23,324 shares of the company’s stock, valued at approximately $4,529,987.28. This trade represents a 6.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 1,367 shares of Alphabet stock in a transaction that occurred 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 owns 23,515 shares of the company’s stock, valued at $4,007,191.15. The trade was a 5.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 134,188 shares of company stock valued at $25,036,883 over the last ninety days. Company insiders own 11.55% of the company’s stock.

Alphabet Trading Down 2.6 %

NASDAQ:GOOGL opened at $168.27 on Friday. The firm 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 52 week low of $130.66 and a 52 week high of $207.05. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The company has a fifty day moving average of $191.00 and a 200 day moving average of $176.06.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) 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%. On average, research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors 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 annualized dividend and a dividend yield of 0.48%. Alphabet’s dividend payout ratio is presently 9.94%.

Alphabet 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.