Adell Harriman & Carpenter Inc. Has $14.43 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Adell Harriman & Carpenter Inc. decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 102,386 shares of the information services provider’s stock after selling 308 shares during the quarter. Alphabet makes up 1.3% of Adell Harriman & Carpenter Inc.’s holdings, making the stock its 22nd biggest position. Adell Harriman & Carpenter Inc.’s holdings in Alphabet were worth $14,429,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Intrust Bank NA grew its holdings in shares of Alphabet by 3.5% during the 4th quarter. Intrust Bank NA now owns 54,724 shares of the information services provider’s stock worth $7,712,000 after purchasing an additional 1,849 shares in the last quarter. EWA LLC grew its stake in Alphabet by 26.8% during the fourth quarter. EWA LLC now owns 4,345 shares of the information services provider’s stock worth $624,000 after buying an additional 917 shares in the last quarter. Greatmark Investment Partners Inc. increased its holdings in Alphabet by 1.7% in the 4th quarter. Greatmark Investment Partners Inc. now owns 5,021 shares of the information services provider’s stock valued at $708,000 after buying an additional 86 shares during the period. Naviter Wealth LLC raised its position in shares of Alphabet by 21.5% in the 4th quarter. Naviter Wealth LLC now owns 40,014 shares of the information services provider’s stock valued at $5,639,000 after buying an additional 7,092 shares in the last quarter. Finally, Bluesphere Advisors LLC lifted its holdings in shares of Alphabet by 62.3% during the 4th quarter. Bluesphere Advisors LLC now owns 4,227 shares of the information services provider’s stock worth $596,000 after acquiring an additional 1,623 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Analysts Set New Price Targets

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

Insider Activity

In related news, Director John L. Hennessy sold 2,100 shares of the business’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $175.76, for a total value of $369,096.00. Following the sale, the director now owns 5,891 shares of the company’s stock, valued at $1,035,402.16. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CAO Amie Thuener O’toole sold 660 shares of Alphabet stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $143.59, for a total value of $94,769.40. Following the transaction, the chief accounting officer now directly owns 27,920 shares of the company’s stock, valued at $4,009,032.80. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director John L. Hennessy sold 2,100 shares of the stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $175.76, for a total transaction of $369,096.00. Following the sale, the director now directly owns 5,891 shares of the company’s stock, valued at approximately $1,035,402.16. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 253,289 shares of company stock valued at $36,724,534. Insiders own 12.99% of the company’s stock.

Alphabet Trading Down 1.9 %

NASDAQ GOOG opened at $164.64 on Wednesday. The company has a market cap of $2.05 trillion, a price-to-earnings ratio of 25.25, a price-to-earnings-growth ratio of 1.31 and a beta of 1.05. Alphabet Inc. has a twelve month low of $104.50 and a twelve month high of $176.42. The company has a quick ratio of 2.10, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. The business’s fifty day moving average is $150.09 and its 200 day moving average is $143.16.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate 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 return on equity of 29.52% and a net margin of 25.90%. The business’s quarterly revenue was up 15.4% compared to the same quarter last year. During the same period in the previous year, the business posted $1.17 earnings per share. As a group, sell-side analysts expect that Alphabet Inc. will post 7.46 EPS for the current fiscal year.

Alphabet Announces Dividend

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

About Alphabet

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.