Alphabet Inc. $GOOGL Shares Acquired by KG&L Capital Management LLC

Key Points

• KG&L Capital Management LLC increased its holdings in Alphabet Inc. by 7.6% in the 2nd quarter, owning a total of 89,056 shares valued at approximately $15.7 million.
• Several analysts have raised their price targets for Alphabet, with Citigroup and Tigress Financial both boosting their target price to $280.00, marking a significant upward revision.
• Insiders, including CEO Sundar Pichai, have sold shares recently, with Pichai selling 32,500 shares worth about $5.99 million, which has led to a 1.27% decrease in his ownership.

KG&L Capital Management LLC raised its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 7.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 89,056 shares of the information services provider's stock after acquiring an additional 6,317 shares during the period. Alphabet makes up about 4.6% of KG&L Capital Management LLC's portfolio, making the stock its 2nd biggest position. KG&L Capital Management LLC's holdings in Alphabet were worth $15,694,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Mystic Asset Management Inc. lifted its stake in Alphabet by 6.7% during the 1st quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider's stock valued at $4,400,000 after acquiring an additional 1,791 shares during the period. Harbour Trust & Investment Management Co lifted its stake in shares of Alphabet by 0.3% in the 1st quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider's stock valued at $4,187,000 after purchasing an additional 80 shares during the period. Cypress Capital LLC lifted its stake in shares of Alphabet by 4.1% in the 1st quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider's stock valued at $2,213,000 after purchasing an additional 563 shares during the period. Bridgeway Capital Management LLC lifted its stake in shares of Alphabet by 17.9% in the 1st quarter. Bridgeway Capital Management LLC now owns 88,187 shares of the information services provider's stock valued at $13,637,000 after purchasing an additional 13,371 shares during the period. Finally, Alaethes Wealth LLC lifted its stake in shares of Alphabet by 1.1% in the 1st quarter. Alaethes Wealth LLC now owns 7,646 shares of the information services provider's stock valued at $1,182,000 after purchasing an additional 84 shares during the period. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently issued reports on GOOGL shares. Wedbush boosted their target price on shares of Alphabet from $225.00 to $245.00 and gave the company an "outperform" rating in a research note on Wednesday, September 3rd. Wall Street Zen cut shares of Alphabet from a "buy" rating to a "hold" rating in a research note on Sunday, September 21st. Tigress Financial boosted their target price on shares of Alphabet from $240.00 to $280.00 and gave the company a "strong-buy" rating in a research note on Friday, September 5th. Citigroup boosted their target price on shares of Alphabet from $225.00 to $280.00 and gave the company a "buy" rating in a research note on Monday, September 15th. Finally, BMO Capital Markets boosted their target price on shares of Alphabet from $208.00 to $225.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-two have assigned a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, Alphabet has an average rating of "Moderate Buy" and an average price target of $240.76.

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $184.38, for a total value of $5,992,350.00. Following the transaction, the chief executive officer directly owned 2,527,392 shares in the company, valued at $466,000,536.96. This represents a 1.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider John Kent Walker sold 23,820 shares of the stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the transaction, the insider owned 42,999 shares in the company, valued at $8,371,905.30. This represents a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 276,738 shares of company stock worth $59,135,475 over the last three months. Insiders own 11.64% of the company's stock.

Alphabet Price Performance

Alphabet stock opened at $245.69 on Friday. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $256.00. The firm has a market capitalization of $2.97 trillion, a price-to-earnings ratio of 26.17, a PEG ratio of 1.65 and a beta of 1.00. The company has a fifty day simple moving average of $220.21 and a 200-day simple moving average of $185.22. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.15 by $0.16. The firm had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.60 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. On average, equities analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were issued a $0.21 dividend. The ex-dividend date of this dividend was Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.3%. Alphabet's dividend payout ratio (DPR) is 8.95%.

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

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