United Capital Management of KS Inc. Has $6.50 Million Holdings in Alphabet Inc. $GOOGL

Key Points

• United Capital Management of KS Inc. increased its holdings in Alphabet Inc. by 3.2%, now owning 42,031 shares worth approximately $6.5 million, making it the firm's 26th largest holding.
• In the recent quarter, several institutional investors, including Vanguard Group Inc. and Price T Rowe Associates Inc., have significantly boosted their stakes in Alphabet, reflecting strong institutional interest in the company.
• Alphabet's recent earnings report beat analysts' expectations, with a revenue of $96.43 billion and earnings per share of $2.31, compared to the consensus estimate of $2.15.

United Capital Management of KS Inc. increased its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 3.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 42,031 shares of the information services provider's stock after buying an additional 1,311 shares during the quarter. Alphabet comprises 1.3% of United Capital Management of KS Inc.'s portfolio, making the stock its 26th largest position. United Capital Management of KS Inc.'s holdings in Alphabet were worth $6,500,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of GOOGL. Nia Impact Advisors LLC lifted its holdings in Alphabet by 0.3% during the 4th quarter. Nia Impact Advisors LLC now owns 17,161 shares of the information services provider's stock worth $3,249,000 after buying an additional 59 shares during the last quarter. Enzi Wealth lifted its holdings in Alphabet by 2.5% during the 1st quarter. Enzi Wealth now owns 2,561 shares of the information services provider's stock worth $408,000 after buying an additional 62 shares during the last quarter. Whipplewood Advisors LLC lifted its holdings in Alphabet by 1.2% during the 1st quarter. Whipplewood Advisors LLC now owns 5,438 shares of the information services provider's stock worth $817,000 after buying an additional 67 shares during the last quarter. Aspire Capital Advisors LLC lifted its holdings in shares of Alphabet by 1.0% in the 1st quarter. Aspire Capital Advisors LLC now owns 7,020 shares of the information services provider's stock worth $1,086,000 after purchasing an additional 67 shares during the last quarter. Finally, Rainey & Randall Wealth Advisors Inc. lifted its holdings in shares of Alphabet by 2.1% in the 1st quarter. Rainey & Randall Wealth Advisors Inc. now owns 3,209 shares of the information services provider's stock worth $496,000 after purchasing an additional 67 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on GOOGL. KeyCorp raised their price target on Alphabet from $215.00 to $230.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Royal Bank Of Canada raised their price target on Alphabet from $200.00 to $220.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. Rosenblatt Securities raised their price target on Alphabet from $189.00 to $191.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Truist Financial reissued a "buy" rating and issued a $200.00 price target on shares of Alphabet in a report on Wednesday, July 2nd. Finally, BNP Paribas Exane reissued a "neutral" rating and issued a $172.00 price target on shares of Alphabet in a report on Friday, June 27th. Four research 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 company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $211.53.

Insider Buying and Selling

In related news, insider John Kent Walker sold 23,820 shares of Alphabet stock in a transaction on Monday, August 4th. The stock was sold at an average price of $194.70, for a total value of $4,637,754.00. Following the transaction, the insider directly owned 42,999 shares in the company, valued at $8,371,905.30. The trade was a 35.65% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John L. Hennessy sold 1,000 shares of Alphabet stock in a transaction on Friday, August 8th. The stock was sold at an average price of $200.00, for a total value of $200,000.00. Following the completion of the transaction, the director owned 6,916 shares in the company, valued at $1,383,200. The trade was a 12.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 254,719 shares of company stock valued at $47,223,172. Insiders own 11.64% of the company's stock.

Alphabet Price Performance

Shares of GOOGL stock traded up $6.34 during mid-day trading on Friday, hitting $206.09. 42,770,206 shares of the stock traded hands, compared to its average volume of 31,218,810. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $208.54. The firm has a market cap of $2.49 trillion, a price-to-earnings ratio of 21.95, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01. The company's 50-day simple moving average is $186.81 and its 200-day simple moving average is $173.37. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.15 by $0.16. The business had revenue of $96,428,000 billion for the quarter, compared to analysts' expectations of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. As a group, equities research analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

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

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.