Elevated Capital Advisors LLC Purchases New Position in Alphabet Inc. (NASDAQ:GOOGL)

Elevated Capital Advisors LLC acquired a new stake in Alphabet Inc. (NASDAQ:GOOGL) in the 1st quarter, Holdings Channel reports. The fund acquired 1,426 shares of the information services provider’s stock, valued at approximately $215,000.

Several other hedge funds also recently made changes to their positions in the company. Vermillion & White Wealth Management Group LLC acquired a new stake in Alphabet during the 4th quarter worth $30,000. DiNuzzo Private Wealth Inc. acquired a new stake in shares of Alphabet during the fourth quarter worth about $38,000. Meritage Group LP grew its holdings in shares of Alphabet by 1,061.5% during 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. Armor Investment Advisors LLC increased its position in Alphabet by 31.0% in the 4th quarter. Armor Investment Advisors LLC now owns 338 shares of the information services provider’s stock valued at $47,000 after acquiring an additional 80 shares during the period. Finally, IAG Wealth Partners LLC raised its stake in Alphabet by 55.9% during the 4th quarter. IAG Wealth Partners LLC now owns 343 shares of the information services provider’s stock valued at $48,000 after acquiring an additional 123 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analysts Set New Price Targets

GOOGL has been the topic of a number of recent research reports. Truist Financial boosted their target price on Alphabet from $170.00 to $190.00 and gave the company a “buy” rating in a report on Friday, April 26th. Royal Bank of Canada upped their price objective on shares of Alphabet from $155.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Jefferies Financial Group raised their target price on shares of Alphabet from $200.00 to $215.00 and gave the stock a “buy” rating in a research note on Wednesday. Bank of America reiterated a “buy” rating and set a $200.00 price target on shares of Alphabet in a research note on Tuesday, June 11th. Finally, Robert W. Baird raised their price objective on shares of Alphabet from $160.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Five investment analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $193.69.

Insider Activity

In other news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $154.79, for a total transaction of $105,566.78. Following the completion of the transaction, the chief accounting officer now owns 29,284 shares of the company’s stock, valued at approximately $4,532,870.36. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $154.79, for a total value of $105,566.78. Following the transaction, the chief accounting officer now directly owns 29,284 shares of the company’s stock, valued at approximately $4,532,870.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $177.40, for a total value of $3,991,500.00. Following the completion of the transaction, the chief executive officer now owns 2,213,011 shares in the company, valued at approximately $392,588,151.40. The disclosure for this sale can be found here. Insiders sold a total of 146,284 shares of company stock valued at $24,534,393 over the last quarter. Company insiders own 11.55% of the company’s stock.

Alphabet Price Performance

NASDAQ:GOOGL opened at $185.41 on Friday. Alphabet Inc. has a 12-month low of $115.35 and a 12-month high of $186.05. The firm has a market cap of $2.29 trillion, a price-to-earnings ratio of 28.44, a price-to-earnings-growth ratio of 1.38 and a beta of 1.01. The company’s 50-day moving average is $171.70 and its two-hundred day moving average is $153.58. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share 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 during the quarter, compared to analyst estimates of $66.04 billion. During the same quarter in the previous year, the business posted $1.17 earnings per share. Research analysts expect that Alphabet Inc. will post 7.6 EPS for the current year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 10th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.43%. The ex-dividend date was Monday, June 10th. Alphabet’s dividend payout ratio (DPR) is 12.27%.

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.