Elevate Capital Advisors LLC Buys Shares of 25,136 Alphabet Inc. (NASDAQ:GOOGL)

Elevate Capital Advisors LLC purchased a new position in shares of Alphabet Inc. (NASDAQ:GOOGL) during the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 25,136 shares of the information services provider’s stock, valued at approximately $4,758,000. Alphabet accounts for approximately 4.2% of Elevate Capital Advisors LLC’s holdings, making the stock its 2nd largest position.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. LMR Partners LLP purchased a new position in Alphabet in the third quarter valued at $32,000. E Fund Management Hong Kong Co. Ltd. increased its holdings in shares of Alphabet by 518.8% in the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock valued at $37,000 after acquiring an additional 166 shares during the period. Fiduciary Advisors Inc. acquired a new position in Alphabet in the fourth quarter valued at $39,000. Denver PWM LLC raised its stake in Alphabet by 25.4% during the 3rd quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock valued at $47,000 after acquiring an additional 57 shares during the last quarter. Finally, Teachers Insurance & Annuity Association of America acquired a new stake in shares of Alphabet during the third quarter worth $66,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $184.56 on Friday. The firm’s 50-day simple moving average is $192.67 and its 200 day simple moving average is $175.55. 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 stock has a market cap of $2.25 trillion, a P/E ratio of 22.93, a P/E/G ratio of 1.34 and a beta of 0.99. Alphabet Inc. has a fifty-two week low of $130.66 and a fifty-two week high of $207.05.

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

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be issued a $0.20 dividend. 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 0.43%. Alphabet’s dividend payout ratio is 9.94%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on GOOGL. Needham & Company LLC reissued a “buy” rating and set a $225.00 target price on shares of Alphabet in a research note on Wednesday, February 5th. KeyCorp raised their price objective on shares of Alphabet from $215.00 to $225.00 and gave the stock an “overweight” rating in a research note on Friday, January 10th. Wedbush raised their price objective on Alphabet from $210.00 to $220.00 and gave the stock an “outperform” rating in a report on Monday, January 6th. Roth Mkm upped their price target on Alphabet from $206.00 to $212.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, Wolfe Research upped their price target on Alphabet from $220.00 to $230.00 and gave the stock 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 stock. According to MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and an average price target of $210.62.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 1,367 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $170.41, for a total transaction of $232,950.47. Following the completion of the sale, the chief accounting officer now owns 23,515 shares of the company’s stock, valued at $4,007,191.15. This represents a 5.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John Kent Walker sold 16,820 shares of the company’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the sale, the insider now directly owns 43,981 shares of the company’s stock, valued at approximately $8,471,620.22. This represents a 27.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 116,609 shares of company stock worth $21,809,990. 11.55% of the stock is currently owned by company insiders.

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.