Alphabet Inc. $GOOGL is Kelly Lawrence W & Associates Inc. CA's 2nd Largest Position

Key Points

• Kelly Lawrence W & Associates Inc. CA reduced its stake in Alphabet Inc. by 1.4%, selling 2,275 shares and now holds 162,510 shares valued at approximately $25.1 million.
• CEO Sundar Pichai sold 32,500 shares worth about $5.8 million, representing a 1.25% decrease in his ownership position.
• Analysts have adjusted price targets for Alphabet, with forecasts ranging from $172.00 to $230.00, reflecting a consensus rating of "Moderate Buy" and an average price target of $211.53.

Kelly Lawrence W & Associates Inc. CA cut its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 1.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 162,510 shares of the information services provider's stock after selling 2,275 shares during the period. Alphabet accounts for 6.1% of Kelly Lawrence W & Associates Inc. CA's holdings, making the stock its 2nd largest position. Kelly Lawrence W & Associates Inc. CA's holdings in Alphabet were worth $25,131,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Eagle Capital Management LLC increased its holdings in shares of Alphabet by 0.7% in the fourth quarter. Eagle Capital Management LLC now owns 50,132 shares of the information services provider's stock valued at $9,490,000 after purchasing an additional 371 shares during the last quarter. Brighton Jones LLC raised its holdings in shares of Alphabet by 3.9% during the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider's stock worth $20,886,000 after acquiring an additional 4,110 shares during the period. Revolve Wealth Partners LLC boosted its position in shares of Alphabet by 3.5% during the 4th quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider's stock valued at $2,826,000 after acquiring an additional 506 shares during the last quarter. Highview Capital Management LLC DE boosted its position in shares of Alphabet by 3.6% during the 4th quarter. Highview Capital Management LLC DE now owns 29,100 shares of the information services provider's stock valued at $5,509,000 after acquiring an additional 1,003 shares during the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of Alphabet by 15.9% in the fourth quarter. Wellington Management Group LLP now owns 66,050,135 shares of the information services provider's stock valued at $12,503,291,000 after purchasing an additional 9,042,271 shares during the period. 40.03% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director John L. Hennessy sold 600 shares of the company's stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $203.79, for a total value of $122,274.00. Following the transaction, the director directly owned 6,316 shares of the company's stock, valued at $1,287,137.64. This represents a 8.68% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider John Kent Walker sold 23,820 shares of the company's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the sale, the insider directly owned 42,999 shares of the company's stock, valued at $8,371,905.30. This represents a 35.65% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 254,608 shares of company stock worth $47,204,035. Company insiders own 11.64% of the company's stock.

Alphabet Stock Performance

Shares of NASDAQ GOOGL traded up $1.59 during trading hours on Friday, hitting $213.23. 25,453,381 shares of the stock were exchanged, compared to its average volume of 36,107,535. The firm has a market capitalization of $2.58 trillion, a P/E ratio of 22.72, a P/E/G ratio of 1.40 and a beta of 1.01. Alphabet Inc. has a one year low of $140.53 and a one year high of $214.65. The company's 50 day moving average is $189.51 and its 200 day moving average is $173.92. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released 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. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The business had revenue of $96.43 billion for the quarter, compared to analysts' expectations of $93.60 billion. On average, research analysts expect that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet's dividend payout ratio is presently 8.95%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on GOOGL. Truist Financial restated a "buy" rating and issued a $200.00 price objective on shares of Alphabet in a report on Wednesday, July 2nd. Citizens Jmp upgraded Alphabet from a "market perform" rating to an "outperform" rating and set a $220.00 price target on the stock in a research note on Friday, June 27th. Sanford C. Bernstein increased their target price on Alphabet from $185.00 to $195.00 and gave the company a "market perform" rating in a report on Tuesday, July 22nd. Citigroup upped their price objective on Alphabet from $203.00 to $225.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Finally, Stifel Nicolaus lifted their price target on shares of Alphabet from $200.00 to $218.00 and gave the stock a "buy" rating in a research note on Tuesday, July 22nd. Four analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $211.53.

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.