Ellis Investment Partners LLC Has $2.76 Million Stake in Alphabet Inc. (NASDAQ:GOOGL)

Ellis Investment Partners LLC grew its holdings in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 0.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 26,575 shares of the information services provider’s stock after purchasing an additional 235 shares during the period. Ellis Investment Partners LLC’s holdings in Alphabet were worth $2,757,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in GOOGL. Vanguard Group Inc. increased its holdings in shares of Alphabet by 1,919.4% in the 3rd quarter. Vanguard Group Inc. now owns 477,035,902 shares of the information services provider’s stock valued at $45,628,484,000 after purchasing an additional 453,413,389 shares during the period. State Street Corp increased its holdings in shares of Alphabet by 1,900.6% in the 3rd quarter. State Street Corp now owns 217,154,306 shares of the information services provider’s stock valued at $20,770,809,000 after purchasing an additional 206,300,042 shares during the period. Moneta Group Investment Advisors LLC increased its holdings in shares of Alphabet by 111,197.8% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 170,420,243 shares of the information services provider’s stock valued at $15,036,178,000 after purchasing an additional 170,267,122 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of Alphabet by 1,759.2% in the 3rd quarter. Price T Rowe Associates Inc. MD now owns 116,116,066 shares of the information services provider’s stock valued at $11,106,502,000 after purchasing an additional 109,870,525 shares during the period. Finally, Norges Bank acquired a new position in shares of Alphabet in the 4th quarter valued at about $8,335,063,000. Institutional investors and hedge funds own 35.38% of the company’s stock.

Alphabet Stock Performance

Shares of NASDAQ GOOGL opened at $131.01 on Tuesday. The business has a fifty day simple moving average of $125.24 and a 200 day simple moving average of $113.62. The company has a current ratio of 2.17, a quick ratio of 2.14 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $1.65 trillion, a price-to-earnings ratio of 27.76, a PEG ratio of 1.50 and a beta of 1.06. Alphabet Inc. has a one year low of $83.34 and a one year high of $134.25.

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Alphabet (NASDAQ:GOOGL – Get Free Report) last issued its earnings results on Tuesday, July 25th. The information services provider reported $1.44 EPS for the quarter, beating analysts’ consensus estimates of $1.32 by $0.12. The business had revenue of $74.60 billion during the quarter, compared to analyst estimates of $60.24 billion. Alphabet had a return on equity of 23.49% and a net margin of 21.05%. During the same period in the prior year, the company posted $1.21 earnings per share. Sell-side analysts expect that Alphabet Inc. will post 5.68 EPS for the current year.

Insider Activity at Alphabet

In related news, major shareholder 2019 Gp L.L.C. Gv sold 16,633 shares of the company’s stock in a transaction on Wednesday, May 31st. The stock was sold at an average price of $13.65, for a total value of $227,040.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Alphabet news, Director John L. Hennessy sold 200 shares of the stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $131.14, for a total transaction of $26,228.00. Following the completion of the transaction, the director now directly owns 5,340 shares in the company, valued at $700,287.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder 2019 Gp L.L.C. Gv sold 16,633 shares of the stock in a transaction on Wednesday, May 31st. The stock was sold at an average price of $13.65, for a total value of $227,040.45. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 180,006 shares of company stock worth $8,804,132. 0.88% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. 888 reiterated a “downgrade” rating on shares of Alphabet in a report on Monday, June 26th. JPMorgan Chase & Co. boosted their price target on Alphabet from $121.00 to $150.00 in a research note on Wednesday, July 26th. Tigress Financial boosted their price target on Alphabet from $160.00 to $172.00 and gave the company a “strong-buy” rating in a research note on Friday, July 14th. Credit Suisse Group boosted their price target on Alphabet from $135.00 to $150.00 and gave the company an “outperform” rating in a research note on Monday, July 17th. Finally, Wolfe Research boosted their price target on Alphabet from $130.00 to $140.00 in a research note on Monday, July 10th. Four investment analysts have rated the stock with a hold rating, thirty-one have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $143.08.

Get Our Latest Analysis on GOOGL

Alphabet Profile

(Free Report)

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, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.