Kennon Green & Company LLC cut its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 10.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 33,046 shares of the information services provider's stock after selling 3,741 shares during the quarter. Alphabet accounts for 4.2% of Kennon Green & Company LLC's portfolio, making the stock its 8th largest position. Kennon Green & Company LLC's holdings in Alphabet were worth $5,110,000 at the end of the most recent quarter.
Several other hedge funds also recently modified their holdings of GOOGL. Addison Advisors LLC raised its stake in shares of Alphabet by 0.7% during the fourth quarter. Addison Advisors LLC now owns 7,527 shares of the information services provider's stock valued at $1,425,000 after acquiring an additional 53 shares in the last quarter. Burt Wealth Advisors grew its holdings in Alphabet by 1.0% in the fourth quarter. Burt Wealth Advisors now owns 5,307 shares of the information services provider's stock worth $1,005,000 after purchasing an additional 54 shares during the last quarter. Perritt Capital Management Inc grew its holdings in Alphabet by 10.4% in the fourth quarter. Perritt Capital Management Inc now owns 618 shares of the information services provider's stock worth $117,000 after purchasing an additional 58 shares during the last quarter. Nia Impact Advisors LLC grew its holdings in shares of Alphabet by 0.3% during the fourth quarter. Nia Impact Advisors LLC now owns 17,161 shares of the information services provider's stock valued at $3,249,000 after buying an additional 59 shares during the last quarter. Finally, Hanlon Investment Management Inc. grew its holdings in shares of Alphabet by 1.7% during the fourth quarter. Hanlon Investment Management Inc. now owns 3,553 shares of the information services provider's stock valued at $673,000 after buying an additional 60 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.
Alphabet Stock Down 1.5%
Shares of GOOGL stock traded down $2.74 during trading on Monday, hitting $176.79. 34,077,951 shares of the company were exchanged, compared to its average volume of 31,600,532. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77. The firm has a market capitalization of $2.15 trillion, a price-to-earnings ratio of 19.71, a P/E/G ratio of 1.26 and a beta of 1.00. The business's 50-day simple moving average is $168.70 and its 200 day simple moving average is $173.77. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $207.05.
Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, beating analysts' consensus estimates of $2.02 by $0.79. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The company had revenue of $76.49 billion for the quarter, compared to analyst estimates of $89.30 billion. During the same quarter last year, the firm posted $1.89 earnings per share. As a group, analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.
Alphabet Increases Dividend
The firm 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 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend was Monday, June 9th. This is a positive change from Alphabet's previous quarterly dividend of $0.20. Alphabet's payout ratio is 9.36%.
Wall Street Analyst Weigh In
A number of brokerages have recently weighed in on GOOGL. JMP Securities raised shares of Alphabet from a "market perform" rating to a "market outperform" rating and set a $220.00 price objective on the stock in a report on Friday, June 27th. Roth Mkm reissued a "buy" rating and set a $220.00 price objective on shares of Alphabet in a report on Wednesday, March 19th. Needham & Company LLC reissued a "buy" rating and set a $178.00 price objective on shares of Alphabet in a report on Friday, April 25th. Bank of America boosted their target price on shares of Alphabet from $185.00 to $200.00 and gave the company a "buy" rating in a research report on Friday, April 25th. Finally, Oppenheimer upped their price objective on shares of Alphabet from $185.00 to $200.00 and gave the stock an "outperform" rating in a research report on Friday, April 25th. Ten analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and four have issued a strong buy rating to the company's stock. According to data from MarketBeat, Alphabet presently has a consensus rating of "Moderate Buy" and a consensus target price of $199.95.
Read Our Latest Stock Report on GOOGL
Insider Activity
In other news, Director John L. Hennessy sold 600 shares of the firm's stock in a transaction that occurred on Thursday, May 22nd. The shares were 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 of the company's stock, valued at $1,192,275. This trade represents a 8.09% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total value of $5,801,900.00. Following the completion of the sale, the chief executive officer directly owned 2,559,892 shares of the company's stock, valued at approximately $456,991,919.84. The trade was a 1.25% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 215,643 shares of company stock worth $36,330,928. Corporate insiders own 11.55% of the company's stock.
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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