Adell Harriman & Carpenter Inc. Sells 308 Shares of Alphabet Inc. (NASDAQ:GOOG)

Adell Harriman & Carpenter Inc. decreased its position in Alphabet Inc. (NASDAQ:GOOG) by 0.3% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 102,386 shares of the information services provider’s stock after selling 308 shares during the period. Alphabet comprises approximately 1.3% of Adell Harriman & Carpenter Inc.’s portfolio, making the stock its 22nd biggest holding. Adell Harriman & Carpenter Inc.’s holdings in Alphabet were worth $14,429,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in GOOG. Bruce G. Allen Investments LLC bought a new stake in shares of Alphabet in the 4th quarter worth approximately $26,000. Tandem Wealth Advisors LLC bought a new stake in shares of Alphabet during the 3rd quarter valued at $25,000. Equitec Proprietary Markets LLC bought a new position in shares of Alphabet in the 4th quarter worth about $28,000. Buck Wealth Strategies LLC purchased a new position in Alphabet during the 3rd quarter valued at about $32,000. Finally, Barometer Capital Management Inc. bought a new stake in Alphabet during the third quarter worth about $32,000. 27.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on GOOG shares. Susquehanna boosted their price target on Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research report on Wednesday, January 31st. Morgan Stanley reaffirmed an “overweight” rating and issued a $165.00 target price on shares of Alphabet in a research report on Thursday, April 11th. Oppenheimer increased their price target on Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a report on Monday, April 8th. Stifel Nicolaus upped their price objective on Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Finally, Raymond James raised their target price on Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 24th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $165.67.

Alphabet Trading Down 1.9 %

Alphabet stock opened at $164.64 on Wednesday. The company has a current ratio of 2.15, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 12-month low of $104.50 and a 12-month high of $176.42. The firm has a market capitalization of $2.05 trillion, a price-to-earnings ratio of 25.25, a P/E/G ratio of 1.31 and a beta of 1.05. The firm has a 50 day moving average of $150.09 and a 200 day moving average of $143.16.

Alphabet (NASDAQ:GOOG) last released its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.51 by $0.38. The company had revenue of $80.54 billion for the quarter, compared to analysts’ expectations of $78.75 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. Alphabet’s revenue for the quarter was up 15.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.17 EPS. As a group, research analysts predict that Alphabet Inc. will post 7.46 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently declared a — dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 10th will be paid a $0.20 dividend. The ex-dividend date is Monday, June 10th.

Insider Buying and Selling at Alphabet

In other news, Director John L. Hennessy sold 300 shares of Alphabet stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $139.51, for a total value of $41,853.00. Following the sale, the director now directly owns 9,291 shares of the company’s stock, valued at $1,296,187.41. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Alphabet news, Director John L. Hennessy sold 300 shares of Alphabet stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $139.51, for a total value of $41,853.00. Following the completion of the transaction, the director now directly owns 9,291 shares of the company’s stock, valued at approximately $1,296,187.41. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John L. Hennessy sold 2,100 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $175.76, for a total value of $369,096.00. Following the sale, the director now directly owns 5,891 shares in the company, valued at $1,035,402.16. The disclosure for this sale can be found here. Insiders sold a total of 253,289 shares of company stock valued at $36,724,534 in the last three months. 12.99% of the stock is currently owned by corporate insiders.

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.