Adell Harriman & Carpenter Inc. Buys 2,163 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Adell Harriman & Carpenter Inc. boosted its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 1.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 152,944 shares of the information services provider's stock after buying an additional 2,163 shares during the quarter. Alphabet makes up approximately 1.8% of Adell Harriman & Carpenter Inc.'s investment portfolio, making the stock its 18th largest position. Adell Harriman & Carpenter Inc.'s holdings in Alphabet were worth $23,651,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in GOOGL. Harbour Trust & Investment Management Co raised its holdings in Alphabet by 0.3% during the 1st quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider's stock worth $4,187,000 after purchasing an additional 80 shares during the last quarter. Rockbridge Capital Management LLC bought a new position in Alphabet during the 4th quarter worth approximately $3,119,000. Cypress Capital LLC raised its holdings in Alphabet by 4.1% during the 1st quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider's stock worth $2,213,000 after purchasing an additional 563 shares during the last quarter. Optivise Advisory Services LLC raised its holdings in Alphabet by 8.0% during the 4th quarter. Optivise Advisory Services LLC now owns 5,464 shares of the information services provider's stock worth $1,035,000 after purchasing an additional 403 shares during the last quarter. Finally, Community Bank N.A. raised its holdings in Alphabet by 6.4% during the 4th quarter. Community Bank N.A. now owns 46,173 shares of the information services provider's stock worth $8,741,000 after purchasing an additional 2,790 shares during the last quarter. Institutional investors own 40.03% of the company's stock.

Insider Activity

In other news, Director Kavitark Ram Shriram sold 9,000 shares of the company's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $1,575,000.00. Following the sale, the director directly owned 255,400 shares in the company, valued at $44,695,000. This represents a 3.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total value of $5,801,900.00. Following the sale, the chief executive officer owned 2,559,892 shares in the company, valued at approximately $456,991,919.84. This represents a 1.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 215,643 shares of company stock worth $36,330,928 over the last ninety days. Company insiders own 11.64% of the company's stock.

Analyst Ratings Changes

Several analysts have recently commented on GOOGL shares. KeyCorp raised their price objective on shares of Alphabet from $185.00 to $195.00 and gave the stock an "overweight" rating in a research report on Friday, April 25th. Tigress Financial raised their price objective on shares of Alphabet from $220.00 to $240.00 and gave the stock a "strong-buy" rating in a research report on Wednesday, April 30th. BNP Paribas Exane reaffirmed a "neutral" rating and set a $172.00 price objective on shares of Alphabet in a research report on Friday, June 27th. Westpark Capital reaffirmed a "buy" rating and set a $210.00 price objective on shares of Alphabet in a research report on Thursday, May 8th. Finally, Wedbush set a $190.00 price objective on shares of Alphabet and gave the stock an "outperform" rating in a research report on Tuesday, April 15th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat.com, Alphabet presently has a consensus rating of "Moderate Buy" and a consensus target price of $199.61.

Alphabet Stock Performance

Shares of NASDAQ:GOOGL traded up $2.57 during midday trading on Friday, reaching $180.19. The company had a trading volume of 34,243,157 shares, compared to its average volume of 31,915,001. The company's 50 day moving average price is $170.32 and its 200 day moving average price is $173.31. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.03. The stock has a market cap of $2.19 trillion, a P/E ratio of 20.09, a P/E/G ratio of 1.27 and a beta of 1.00. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $207.05.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.02 by $0.79. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The business had revenue of $76.49 billion for the quarter, compared to analysts' expectations of $89.30 billion. During the same period in the previous year, the business posted $1.89 EPS. As a group, sell-side analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were given a dividend of $0.21 per share. The ex-dividend date was Monday, June 9th. This is a boost from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 0.47%. Alphabet's dividend payout ratio is currently 9.36%.

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.