Elevate Capital Advisors LLC Takes $4.76 Million Position in Alphabet Inc. (NASDAQ:GOOGL)

Elevate Capital Advisors LLC acquired a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 25,136 shares of the information services provider's stock, valued at approximately $4,758,000. Alphabet makes up 4.2% of Elevate Capital Advisors LLC's holdings, making the stock its 2nd biggest position.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Schear Investment Advisers LLC raised its holdings in shares of Alphabet by 17.0% in the 3rd 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 in the last quarter. Landscape Capital Management L.L.C. lifted its position in shares of 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 purchasing an additional 5,516 shares during the period. abrdn plc lifted its position in shares of Alphabet by 10.7% in the 3rd quarter. abrdn plc now owns 6,305,717 shares of the information services provider's stock worth $1,037,196,000 after purchasing an additional 611,233 shares during the period. Olistico Wealth LLC lifted its position in shares of Alphabet by 9.1% in the 4th 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 during the period. Finally, Centaurus Financial Inc. lifted its position in shares of Alphabet by 22.9% in the 3rd quarter. Centaurus Financial Inc. now owns 61,540 shares of the information services provider's stock worth $10,206,000 after purchasing an additional 11,481 shares during the period. Institutional investors own 40.03% of the company's stock.

Alphabet Stock Performance

NASDAQ GOOGL traded down $4.90 during mid-day trading on Friday, reaching $179.66. 35,094,289 shares of the stock were exchanged, compared to its average volume of 28,166,218. The business's 50 day moving average is $192.46 and its 200-day moving average is $175.69. Alphabet Inc. has a 1 year low of $130.66 and a 1 year high of $207.05. The company has a market capitalization of $2.19 trillion, a P/E ratio of 22.32, a P/E/G ratio of 1.34 and a beta of 0.99. 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 - Get Free Report) last announced its quarterly 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 net margin of 28.60% and a return on equity of 32.49%. On average, equities research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

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 issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date is Monday, March 10th. Alphabet's dividend payout ratio (DPR) is presently 9.94%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on GOOGL. BMO Capital Markets reaffirmed an "outperform" rating and issued a $217.00 price target (up previously from $215.00) on shares of Alphabet in a research report on Wednesday, October 30th. DA Davidson upped their price target on shares of Alphabet from $190.00 to $200.00 and gave the stock a "neutral" rating in a research report on Friday, January 24th. DZ Bank cut shares of Alphabet from a "buy" rating to a "hold" rating and set a $198.00 price target for the company. in a research report on Thursday, February 6th. Wedbush upped their price target on shares of Alphabet from $210.00 to $220.00 and gave the stock an "outperform" rating in a research report on Monday, January 6th. Finally, Robert W. Baird reiterated an "outperform" rating and set a $205.00 price objective on shares of Alphabet in a research note on Tuesday, December 10th. Ten research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $210.62.

Insider Buying and Selling

In other Alphabet news, insider Ruth Porat sold 17,690 shares of the stock in a transaction on Friday, February 21st. The shares were sold at an average price of $183.48, for a total transaction of $3,245,761.20. Following the transaction, the insider now directly owns 1,449,286 shares of the company's stock, valued at $265,914,995.28. This trade represents a 1.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Amie Thuener O'toole sold 1,367 shares of the stock in a transaction 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 directly owns 23,515 shares in the company, valued at approximately $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. Over the last three months, insiders have sold 134,299 shares of company stock valued at $25,055,751. Corporate insiders own 11.55% of the company's stock.

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.