Alphabet Inc. (NASDAQ:GOOGL) Shares Acquired by Kennicott Capital Management LLC

Kennicott Capital Management LLC grew its position in Alphabet Inc. (NASDAQ:GOOGL) by 64.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,820 shares of the information services provider’s stock after purchasing an additional 1,100 shares during the period. Alphabet makes up 0.2% of Kennicott Capital Management LLC’s holdings, making the stock its 28th largest position. Kennicott Capital Management LLC’s holdings in Alphabet were worth $394,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. F M Investments LLC boosted its stake in shares of Alphabet by 0.4% in the fourth quarter. F M Investments LLC now owns 35,367 shares of the information services provider’s stock worth $4,940,000 after buying an additional 150 shares during the last quarter. Cumberland Partners Ltd boosted its stake in shares of Alphabet by 27.2% in the fourth quarter. Cumberland Partners Ltd now owns 126,289 shares of the information services provider’s stock worth $17,385,000 after buying an additional 27,030 shares during the last quarter. Cutter & CO Brokerage Inc. boosted its stake in shares of Alphabet by 1.9% in the fourth quarter. Cutter & CO Brokerage Inc. now owns 8,464 shares of the information services provider’s stock worth $1,182,000 after buying an additional 154 shares during the last quarter. Weatherly Asset Management L. P. boosted its stake in shares of Alphabet by 1.2% in the fourth quarter. Weatherly Asset Management L. P. now owns 104,193 shares of the information services provider’s stock worth $14,555,000 after buying an additional 1,210 shares during the last quarter. Finally, GAMMA Investing LLC purchased a new stake in shares of Alphabet in the fourth quarter worth about $4,878,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Redburn Atlantic upped their target price on Alphabet from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. Mizuho increased their price target on Alphabet from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Argus increased their price target on Alphabet from $170.00 to $200.00 and gave the stock a “buy” rating in a research report on Tuesday. TD Cowen increased their price target on Alphabet from $170.00 to $200.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Finally, Wolfe Research increased their price target on Alphabet from $180.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Five equities research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $190.60.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $166.80, for a total transaction of $3,753,000.00. Following the completion of the transaction, the chief executive officer now directly owns 2,280,511 shares in the company, valued at $380,389,234.80. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, Director John L. Hennessy sold 800 shares of Alphabet stock in a transaction on Monday, February 12th. The stock was sold at an average price of $149.73, for a total value of $119,784.00. Following the completion of the transaction, the director now directly owns 7,164 shares in the company, valued at $1,072,665.72. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $166.80, for a total value of $3,753,000.00. Following the completion of the transaction, the chief executive officer now owns 2,280,511 shares of the company’s stock, valued at $380,389,234.80. The disclosure for this sale can be found here. Insiders sold a total of 275,129 shares of company stock worth $40,382,765 over the last ninety days. Company insiders own 0.88% of the company’s stock.

Alphabet Trading Up 0.7 %

GOOGL opened at $163.86 on Thursday. Alphabet Inc. has a 52 week low of $103.71 and a 52 week high of $174.71. The business has a fifty day simple moving average of $149.22 and a 200-day simple moving average of $141.95. The firm has a market cap of $2.04 trillion, a P/E ratio of 25.13, a P/E/G ratio of 1.29 and a beta of 1.05. The company has a quick ratio of 2.10, a current ratio of 2.15 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.49 by $0.40. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The business had revenue of $80.54 billion during the quarter, compared to analyst estimates of $66.04 billion. During the same period last year, the business posted $1.17 earnings per share. On average, equities analysts expect that Alphabet Inc. will post 7.49 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 10th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, June 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.49%.

Alphabet 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.