Nellore Capital Management LLC Increases Position in Alphabet Inc. (NASDAQ:GOOGL)

Nellore Capital Management LLC raised its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 10.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 161,000 shares of the information services provider’s stock after buying an additional 15,000 shares during the quarter. Alphabet accounts for 4.0% of Nellore Capital Management LLC’s investment portfolio, making the stock its 10th largest holding. Nellore Capital Management LLC’s holdings in Alphabet were worth $30,477,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Compass Planning Associates Inc purchased a new stake in shares of Alphabet during the 4th quarter valued at $30,000. E Fund Management Hong Kong Co. Ltd. boosted its stake in Alphabet by 518.8% in the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock valued at $37,000 after acquiring an additional 166 shares during the last quarter. Fiduciary Advisors Inc. bought a new position in shares of Alphabet during the 4th quarter valued at approximately $39,000. PayPay Securities Corp increased its stake in shares of Alphabet by 36.1% during the 4th quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock worth $46,000 after purchasing an additional 65 shares during the last quarter. Finally, Anderson Financial Strategies LLC bought a new stake in shares of Alphabet in the fourth quarter valued at $49,000. 40.03% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Alphabet

In other news, Director Kavitark Ram Shriram sold 29,066 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $184.89, for a total transaction of $5,374,012.74. Following the transaction, the director now directly owns 272,466 shares of the company’s stock, valued at $50,376,238.74. This represents a 9.64% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Amie Thuener O’toole sold 673 shares of Alphabet stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total value of $104,537.09. Following the completion of the sale, the chief accounting officer now directly owns 15,303 shares of the company’s stock, valued at $2,377,014.99. The trade was a 4.21% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 179,324 shares of company stock worth $30,153,353. Insiders own 11.64% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $159.53 on Wednesday. The business has a fifty day moving average price of $158.38 and a 200-day moving average price of $175.12. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The company has a market capitalization of $1.94 trillion, a PE ratio of 19.82, a PEG ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $207.05.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.79. The business had revenue of $76.49 billion during the quarter, compared to analysts’ expectations of $89.30 billion. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. During the same period in the previous year, the company earned $1.89 earnings per share. As a group, equities analysts expect that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be given a $0.21 dividend. The ex-dividend date of this dividend is 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 yield of 0.53%. Alphabet’s dividend payout ratio is 9.36%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on GOOGL. DA Davidson reduced their target price on Alphabet from $200.00 to $160.00 and set a “neutral” rating for the company in a report on Monday, April 14th. Morgan Stanley cut their price target on shares of Alphabet from $210.00 to $185.00 and set an “overweight” rating for the company in a report on Thursday, April 17th. Bank of America boosted their price target on shares of Alphabet from $185.00 to $200.00 and gave the company a “buy” rating in a research report on Friday, April 25th. Westpark Capital reiterated a “buy” rating and issued a $210.00 price objective on shares of Alphabet in a research report on Thursday, May 8th. Finally, UBS Group set a $195.00 target price on Alphabet in a research report on Friday, April 25th. Ten investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $199.75.

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.