Kennon Green & Company LLC lowered its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 10.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 33,046 shares of the information services provider's stock after selling 3,741 shares during the period. Alphabet comprises 4.2% of Kennon Green & Company LLC's portfolio, making the stock its 8th largest holding. Kennon Green & Company LLC's holdings in Alphabet were worth $5,110,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Rockbridge Capital Management LLC bought a new position in Alphabet during the 4th quarter valued at $3,119,000. Cypress Capital LLC boosted its holdings in shares of Alphabet by 4.1% in the first quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider's stock worth $2,213,000 after buying an additional 563 shares during the period. Optivise Advisory Services LLC lifted its position in shares of Alphabet by 8.0% in the fourth quarter. Optivise Advisory Services LLC now owns 5,464 shares of the information services provider's stock worth $1,035,000 after purchasing an additional 403 shares in the last quarter. Community Bank N.A. lifted its position in shares of Alphabet by 6.4% in the fourth quarter. Community Bank N.A. now owns 46,173 shares of the information services provider's stock worth $8,741,000 after purchasing an additional 2,790 shares in the last quarter. Finally, Falcon Wealth Planning raised its position in Alphabet by 15.7% during the first quarter. Falcon Wealth Planning now owns 9,898 shares of the information services provider's stock valued at $1,531,000 after acquiring an additional 1,340 shares in the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.
Alphabet Stock Down 1.4%
Shares of Alphabet stock traded down $2.43 on Tuesday, reaching $174.36. The company's stock had a trading volume of 40,396,876 shares, compared to its average volume of 31,636,032. The company has a market capitalization of $2.12 trillion, a price-to-earnings ratio of 19.44, a P/E/G ratio of 1.26 and a beta of 1.00. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03. The firm's fifty day simple moving average is $169.03 and its two-hundred day simple moving average is $173.67. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $207.05.
Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping analysts' consensus estimates of $2.02 by $0.79. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The company had revenue of $76.49 billion for the quarter, compared to analysts' expectations of $89.30 billion. During the same period in the previous year, the firm earned $1.89 EPS. Equities analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.
Alphabet Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were paid a dividend of $0.21 per share. This is a boost from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend was Monday, June 9th. Alphabet's payout ratio is presently 9.36%.
Analyst Ratings Changes
A number of brokerages recently issued reports on GOOGL. Wedbush set a $190.00 target price on shares of Alphabet and gave the stock an "outperform" rating in a research report on Tuesday, April 15th. Roth Capital reissued a "buy" rating and issued a $205.00 price objective (up previously from $180.00) on shares of Alphabet in a report on Tuesday. Jefferies Financial Group decreased their price target on Alphabet from $235.00 to $200.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. Westpark Capital restated a "buy" rating and issued a $210.00 price target on shares of Alphabet in a research note on Thursday, May 8th. Finally, Mizuho decreased their price target on Alphabet from $230.00 to $205.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. Ten equities research 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. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $200.13.
Read Our Latest Report on GOOGL
Insider Activity
In other news, Director John L. Hennessy sold 600 shares of the company's 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 transaction, the director owned 6,813 shares of the company's stock, valued at approximately $1,192,275. This represents a 8.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $170.87, for a total value of $5,553,275.00. Following the transaction, the chief executive officer directly owned 2,620,196 shares in the company, valued at approximately $447,712,890.52. This represents a 1.23% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 215,643 shares of company stock valued at $36,330,928. 11.55% of the stock is currently owned by insiders.
About Alphabet
(
Free Report)
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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