Kennicott Capital Management LLC Increases Stake in Alphabet Inc. (NASDAQ:GOOGL)

Kennicott Capital Management LLC grew its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 200.0% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,660 shares of the information services provider’s stock after buying an additional 4,440 shares during the quarter. Kennicott Capital Management LLC’s holdings in Alphabet were worth $266,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of 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 in the last quarter. 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 in the last quarter. 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 in the last quarter. 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 in the last quarter. Finally, Norges Bank purchased a new position in shares of Alphabet in the 4th quarter valued at about $8,335,063,000. Hedge funds and other institutional investors own 35.08% of the company’s stock.

Alphabet Trading Up 0.7 %

GOOGL opened at $136.25 on Tuesday. The firm has a market capitalization of $1.71 trillion, a P/E ratio of 26.15, a P/E/G ratio of 1.51 and a beta of 1.05. The firm’s 50 day moving average is $133.42 and its 200-day moving average is $127.88. Alphabet Inc. has a 52-week low of $84.86 and a 52-week high of $141.22. The company has a quick ratio of 2.01, a current ratio of 2.04 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Tuesday, October 24th. The information services provider reported $1.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.45 by $0.10. The company had revenue of $64.05 billion for the quarter, compared to analyst estimates of $63.13 billion. Alphabet had a net margin of 22.46% and a return on equity of 25.24%. Analysts expect that Alphabet Inc. will post 5.74 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on GOOGL shares. Loop Capital increased their price target on shares of Alphabet from $125.00 to $140.00 and gave the company a “hold” rating in a report on Friday, August 18th. Bank of America increased their price objective on shares of Alphabet from $142.00 to $146.00 and gave the company a “buy” rating in a research note on Wednesday, October 4th. Morgan Stanley lowered their price objective on shares of Alphabet from $155.00 to $150.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 25th. Wedbush reissued an “outperform” rating and issued a $160.00 price objective on shares of Alphabet in a research note on Wednesday, October 25th. Finally, Truist Financial increased their price objective on shares of Alphabet from $122.00 to $160.00 in a research note on Wednesday, July 26th. Five research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $147.00.

Insider Activity

In other news, Director Kavitark Ram Shriram sold 75,000 shares of Alphabet stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $131.09, for a total transaction of $9,831,750.00. Following the sale, the director now owns 104,364 shares in the company, valued at $13,681,076.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Prabhakar Raghavan sold 16,083 shares of Alphabet stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $133.82, for a total value of $2,152,227.06. Following the completion of the sale, the senior vice president now owns 75,621 shares in the company, valued at $10,119,602.22. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kavitark Ram Shriram sold 75,000 shares of Alphabet stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $131.09, for a total transaction of $9,831,750.00. Following the completion of the sale, the director now owns 104,364 shares of the company’s stock, valued at approximately $13,681,076.76. The disclosure for this sale can be found here. Insiders have sold 176,576 shares of company stock worth $23,425,367 over the last 90 days. Company insiders own 0.88% of the company’s stock.

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