KG&L Capital Management LLC Raises Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

KG&L Capital Management LLC boosted its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 11.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 82,739 shares of the information services provider's stock after purchasing an additional 8,229 shares during the quarter. Alphabet comprises about 4.1% of KG&L Capital Management LLC's holdings, making the stock its 2nd biggest holding. KG&L Capital Management LLC's holdings in Alphabet were worth $12,795,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of GOOGL. Compass Planning Associates Inc purchased a new position in Alphabet in the 4th quarter worth about $30,000. Anderson Financial Strategies LLC purchased a new position in shares of Alphabet during the fourth quarter valued at approximately $49,000. EQ Wealth Advisors LLC bought a new position in Alphabet during the first quarter valued at approximately $49,000. Navigoe LLC purchased a new stake in Alphabet during the 4th quarter valued at $51,000. Finally, Prudent Man Investment Management Inc. bought a new position in shares of Alphabet during the 4th quarter valued at $53,000. 40.03% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction dated 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 sale, the chief executive officer directly owned 2,620,196 shares in the company, valued at $447,712,890.52. The trade was a 1.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Kavitark Ram Shriram sold 10,500 shares of the company's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total transaction of $1,837,500.00. Following the sale, the director owned 261,966 shares in the company, valued at $45,844,050. This represents a 3.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 183,143 shares of company stock worth $30,529,028 over the last 90 days. 11.55% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

GOOGL has been the subject of several research analyst reports. Sanford C. Bernstein lifted their price objective on Alphabet from $165.00 to $185.00 and gave the stock a "market perform" rating in a report on Friday, April 25th. Westpark Capital restated a "buy" rating and set a $210.00 price target on shares of Alphabet in a research note on Thursday, May 8th. Wells Fargo & Company increased their price objective on shares of Alphabet from $167.00 to $175.00 and gave the stock an "equal weight" rating in a research note on Friday, April 25th. JPMorgan Chase & Co. dropped their price objective on shares of Alphabet from $220.00 to $180.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Finally, Truist Financial reaffirmed a "buy" rating and set a $200.00 target price on shares of Alphabet in a report on Wednesday. Ten equities research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat.com, Alphabet presently has a consensus rating of "Moderate Buy" and a consensus target price of $199.95.

Alphabet Price Performance

Shares of NASDAQ:GOOGL traded up $2.80 during mid-day trading on Wednesday, reaching $178.64. The stock had a trading volume of 29,091,179 shares, compared to its average volume of 31,445,572. The business's 50 day moving average price is $167.50 and its 200 day moving average price is $174.17. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $207.05. The company has a market cap of $2.17 trillion, a P/E ratio of 19.92, a price-to-earnings-growth ratio of 1.24 and a beta of 1.00. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.79. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The business had revenue of $76.49 billion for the quarter, compared to analysts' expectations of $89.30 billion. During the same period in the prior year, the firm earned $1.89 EPS. Research analysts expect 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. Investors of record on Monday, June 9th were paid a dividend of $0.21 per share. This is an increase from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a yield of 0.47%. Alphabet's dividend payout ratio is presently 9.36%.

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.