Nellore Capital Management LLC Raises Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Nellore Capital Management LLC boosted its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 10.3% in the 4th quarter, HoldingsChannel reports. The firm owned 161,000 shares of the information services provider’s stock after purchasing an additional 15,000 shares during the quarter. Alphabet makes up approximately 4.0% of Nellore Capital Management LLC’s 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 filing with the Securities and Exchange Commission (SEC).

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

Alphabet Price Performance

Shares of GOOGL opened at $159.53 on Wednesday. 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’s fifty day moving average price is $158.38 and its 200-day moving average price is $175.12. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $207.05. The firm has a market capitalization of $1.94 trillion, a PE ratio of 19.82, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping analysts’ consensus estimates of $2.02 by $0.79. The company had revenue of $76.49 billion during the quarter, compared to analysts’ expectations of $89.30 billion. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. During the same quarter in the previous year, the firm posted $1.89 EPS. On average, equities research analysts predict that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Increases Dividend

The company also recently announced 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 is Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a yield of 0.53%. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s dividend payout ratio is currently 9.36%.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total transaction of $5,153,200.00. Following the completion of the transaction, the chief executive officer now directly owns 2,717,696 shares in the company, valued at approximately $430,917,877.76. This trade represents a 1.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,824 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $187.43, for a total value of $529,302.32. Following the completion of the transaction, the chief accounting officer now directly owns 15,024 shares of the company’s stock, valued at $2,815,948.32. The trade was a 15.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 179,324 shares of company stock worth $30,153,353. 11.64% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Westpark Capital restated a “buy” rating and issued a $210.00 target price on shares of Alphabet in a report on Thursday, May 8th. Stifel Nicolaus dropped their target price on Alphabet from $225.00 to $192.00 and set a “buy” rating for the company in a research report on Wednesday, April 23rd. Oppenheimer increased their price target on Alphabet from $185.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, April 25th. DZ Bank cut Alphabet from a “buy” rating to a “hold” rating and set a $198.00 price objective for the company. in a report on Thursday, February 6th. Finally, Cantor Fitzgerald reduced their target price on Alphabet from $200.00 to $159.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 16th. Ten research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target 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.