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

Kanawha Capital Management LLC boosted its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 2.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 157,198 shares of the information services provider's stock after buying an additional 3,043 shares during the period. Alphabet makes up about 1.9% of Kanawha Capital Management LLC's holdings, making the stock its 13th biggest position. Kanawha Capital Management LLC's holdings in Alphabet were worth $24,309,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Anderson Financial Strategies LLC purchased a new stake in shares of Alphabet during the 4th quarter worth $49,000. Navigoe LLC purchased a new stake in shares of Alphabet during the 4th quarter worth $51,000. Prudent Man Investment Management Inc. purchased a new stake in shares of Alphabet during the 4th quarter worth $53,000. Campbell Capital Management Inc. purchased a new stake in shares of Alphabet during the 4th quarter worth $57,000. Finally, EQ Wealth Advisors LLC purchased a new stake in shares of Alphabet during the 1st quarter worth $49,000. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on GOOGL shares. Mizuho decreased their price objective on shares of Alphabet from $230.00 to $205.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $200.00 price objective on shares of Alphabet in a research report on Wednesday, April 23rd. Morgan Stanley decreased their price objective on shares of Alphabet from $210.00 to $185.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. Piper Sandler boosted their price objective on shares of Alphabet from $185.00 to $195.00 and gave the stock an "overweight" rating in a research report on Friday, April 25th. Finally, BNP Paribas lowered shares of Alphabet from a "strong-buy" rating to a "hold" rating in a research report on Thursday, June 26th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $199.61.

Alphabet Stock Up 1.4%

NASDAQ GOOGL traded up $2.57 on Friday, reaching $180.19. The company had a trading volume of 34,243,157 shares, compared to its average volume of 31,878,935. The firm has a market capitalization of $2.19 trillion, a PE ratio of 20.09, a P/E/G ratio of 1.25 and a beta of 1.00. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $207.05. The firm has a 50-day moving average of $170.32 and a 200-day moving average of $173.46. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping analysts' consensus estimates of $2.02 by $0.79. The firm had revenue of $76.49 billion during the quarter, compared to analysts' expectations of $89.30 billion. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. During the same quarter in the prior year, the business earned $1.89 EPS. On average, equities research analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date of this dividend was Monday, June 9th. This is a boost from Alphabet's previous quarterly dividend of $0.20. Alphabet's dividend payout ratio is currently 9.36%.

Insider Activity

In other news, Director John L. Hennessy sold 600 shares of the stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $105,000.00. Following the completion of the transaction, the director directly owned 6,813 shares in the company, valued at approximately $1,192,275. This represents a 8.09% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $1,837,500.00. Following the transaction, the director owned 261,966 shares of the company's stock, valued at approximately $45,844,050. This trade represents a 3.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 215,643 shares of company stock worth $36,330,928. 11.64% of the stock is currently owned by insiders.

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.