Kimelman & Baird LLC Sells 10,391 Shares of Alphabet Inc. $GOOG

Kimelman & Baird LLC decreased its holdings in Alphabet Inc. (NASDAQ:GOOG) by 30.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 23,404 shares of the information services provider’s stock after selling 10,391 shares during the period. Kimelman & Baird LLC’s holdings in Alphabet were worth $4,152,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Brighton Jones LLC lifted its stake in Alphabet by 5.6% in the 4th quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider’s stock valued at $22,901,000 after purchasing an additional 6,410 shares during the last quarter. Passive Capital Management LLC. bought a new stake in shares of Alphabet during the first quarter worth $230,000. Prosperity Consulting Group LLC increased its holdings in shares of Alphabet by 4.0% during the first quarter. Prosperity Consulting Group LLC now owns 40,591 shares of the information services provider’s stock worth $6,342,000 after buying an additional 1,557 shares in the last quarter. Woodard & Co. Asset Management Group Inc. ADV lifted its stake in shares of Alphabet by 8.4% in the 1st quarter. Woodard & Co. Asset Management Group Inc. ADV now owns 20,952 shares of the information services provider’s stock valued at $3,273,000 after acquiring an additional 1,617 shares during the last quarter. Finally, Facet Wealth Inc. lifted its stake in shares of Alphabet by 3.7% in the 1st quarter. Facet Wealth Inc. now owns 4,910 shares of the information services provider’s stock valued at $815,000 after acquiring an additional 176 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Activity

In other Alphabet news, CAO Amie Thuener O’toole sold 2,778 shares of the company’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $288.26, for a total transaction of $800,786.28. Following the sale, the chief accounting officer owned 11,739 shares of the company’s stock, valued at approximately $3,383,884.14. This represents a 19.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, November 19th. The stock was sold at an average price of $296.64, for a total value of $9,640,800.00. Following the completion of the transaction, the chief executive officer directly owned 2,304,619 shares of the company’s stock, valued at approximately $683,642,180.16. This trade represents a 1.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 227,952 shares of company stock valued at $58,896,009. 12.99% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on GOOG shares. Cowen restated a “buy” rating on shares of Alphabet in a research report on Thursday, October 30th. Citigroup reissued a “market outperform” rating on shares of Alphabet in a research note on Monday. Piper Sandler boosted their price target on Alphabet from $285.00 to $330.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. Pivotal Research raised their price objective on shares of Alphabet from $300.00 to $350.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Alphabet in a research report on Wednesday, October 8th. Seven analysts have rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $324.81.

Alphabet Trading Up 6.3%

NASDAQ GOOG opened at $318.47 on Tuesday. The firm has a market capitalization of $3.84 trillion, a PE ratio of 31.41, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05. The business’s 50-day moving average price is $264.32 and its two-hundred day moving average price is $215.82. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $319.80.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Thursday, October 30th. The information services provider reported $2.87 EPS for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. The company had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The firm’s quarterly revenue was up 15.9% on a year-over-year basis. During the same period in the previous year, the firm earned $2.12 earnings per share. On average, analysts expect that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Monday, December 8th. Alphabet’s dividend payout ratio is currently 8.28%.

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.