Elevate Capital Advisors LLC Makes New $4.76 Million Investment in Alphabet Inc. (NASDAQ:GOOGL)

Elevate Capital Advisors LLC purchased a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 25,136 shares of the information services provider’s stock, valued at approximately $4,758,000. Alphabet makes up about 4.2% of Elevate Capital Advisors LLC’s portfolio, making the stock its 2nd largest holding.

Other hedge funds have also recently modified their holdings of the company. LMR Partners LLP bought a new stake in Alphabet in the 3rd quarter worth approximately $32,000. E Fund Management Hong Kong Co. Ltd. increased its holdings in 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 worth $37,000 after acquiring an additional 166 shares in the last quarter. Fiduciary Advisors Inc. bought a new stake in shares of Alphabet during the 4th quarter valued at $39,000. Denver PWM LLC boosted its stake in shares of Alphabet by 25.4% in 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. Finally, Teachers Insurance & Annuity Association of America purchased a new stake in Alphabet during the 3rd quarter valued at approximately $66,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 1,367 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were 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 approximately $4,007,191.15. This represents a 5.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John Kent Walker sold 16,820 shares of Alphabet stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $192.62, for a total value of $3,239,868.40. Following the transaction, the insider now owns 43,981 shares in the company, valued at approximately $8,471,620.22. The trade was a 27.66 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 116,609 shares of company stock valued at $21,809,990. 11.55% of the stock is owned by corporate insiders.

Alphabet Stock Performance

NASDAQ GOOGL opened at $184.56 on Friday. The firm has a market capitalization of $2.25 trillion, a P/E ratio of 22.93, a PEG 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. The stock has a 50-day simple moving average of $192.67 and a two-hundred day simple moving average of $175.55. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84.

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

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date is Monday, March 10th. Alphabet’s dividend payout ratio is presently 9.94%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on GOOGL shares. Piper Sandler dropped their price target on Alphabet from $210.00 to $208.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. Stifel Nicolaus raised their price objective on shares of Alphabet from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Bank of America reaffirmed a “buy” rating and issued a $210.00 price target on shares of Alphabet in a research note on Monday, December 23rd. The Goldman Sachs Group reaffirmed a “buy” rating and set a $210.00 target price on shares of Alphabet in a research report on Thursday, December 12th. Finally, Roth Mkm upped their price target on shares of Alphabet from $206.00 to $212.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Ten research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $210.62.

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.