Kensington Investment Counsel LLC Grows Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Kensington Investment Counsel LLC lifted its holdings in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 1,893.0% in the third quarter, HoldingsChannel reports. The fund owned 13,333 shares of the information services provider’s stock after buying an additional 12,664 shares during the period. Kensington Investment Counsel LLC’s holdings in Alphabet were worth $1,275,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. IAG Wealth Partners LLC increased its position in Alphabet by 3,275.0% during the 3rd quarter. IAG Wealth Partners LLC now owns 270 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 262 shares during the period. Artemis Wealth Advisors LLC grew its position in shares of Alphabet by 1,900.0% in the 3rd quarter. Artemis Wealth Advisors LLC now owns 280 shares of the information services provider’s stock worth $27,000 after buying an additional 266 shares during the period. Laurel Wealth Planning LLC grew its position in shares of Alphabet by 1,900.0% in the 3rd quarter. Laurel Wealth Planning LLC now owns 300 shares of the information services provider’s stock worth $29,000 after buying an additional 285 shares during the period. Coston McIsaac & Partners grew its position in shares of Alphabet by 1,900.0% in the 3rd quarter. Coston McIsaac & Partners now owns 320 shares of the information services provider’s stock worth $30,000 after buying an additional 304 shares during the period. Finally, Horizons Wealth Management purchased a new stake in shares of Alphabet in the 2nd quarter worth about $33,000. 34.06% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on GOOGL shares. Rosenblatt Securities reduced their price objective on shares of Alphabet from $130.00 to $128.00 and set a “buy” rating for the company in a research note on Friday, February 3rd. Credit Suisse Group reduced their price objective on shares of Alphabet from $145.00 to $136.00 and set an “outperform” rating for the company in a research note on Friday, February 3rd. KeyCorp reduced their price objective on shares of Alphabet from $118.00 to $117.00 and set an “overweight” rating for the company in a research note on Monday, January 30th. Tigress Financial reduced their price objective on shares of Alphabet from $186.00 to $160.00 and set a “strong-buy” rating for the company in a research note on Friday, January 6th. Finally, Evercore ISI reduced their price objective on shares of Alphabet from $130.00 to $120.00 and set an “outperform” rating for the company in a research note on Wednesday, December 21st. Five equities research analysts have rated the stock with a hold rating, thirty-three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus price target of $132.32.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 855 shares of the business’s stock in a transaction on Wednesday, January 4th. The shares were sold at an average price of $91.15, for a total transaction of $77,933.25. Following the transaction, the chief accounting officer now owns 25,122 shares in the company, valued at $2,289,870.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Ann Mather sold 380 shares of the business’s stock in a transaction on Tuesday, December 27th. The shares were sold at an average price of $89.24, for a total transaction of $33,911.20. Following the completion of the sale, the director now directly owns 11,300 shares of the company’s stock, valued at $1,008,412. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 855 shares of the business’s stock in a transaction on Wednesday, January 4th. The shares were sold at an average price of $91.15, for a total transaction of $77,933.25. Following the sale, the chief accounting officer now directly owns 25,122 shares of the company’s stock, valued at $2,289,870.30. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 36,745 shares of company stock worth $3,424,078. Insiders own 11.44% of the company’s stock.

Alphabet Trading Up 3.1 %

Alphabet stock opened at $93.97 on Wednesday. The firm’s 50 day moving average price is $94.35 and its 200-day moving average price is $96.30. Alphabet Inc. has a 1 year low of $83.34 and a 1 year high of $143.79. The stock has a market cap of $1.20 trillion, a P/E ratio of 20.65, a PEG ratio of 1.25 and a beta of 1.09. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.38 and a quick ratio of 2.34.

Alphabet (NASDAQ:GOOGL – Get Rating) last announced its quarterly earnings results on Thursday, February 2nd. The information services provider reported $1.05 earnings per share for the quarter, missing the consensus estimate of $1.14 by ($0.09). Alphabet had a return on equity of 23.54% and a net margin of 21.20%. The business had revenue of $76.05 billion during the quarter, compared to the consensus estimate of $63.15 billion. During the same quarter in the prior year, the firm posted $1.53 EPS. On average, equities analysts predict that Alphabet Inc. will post 5.12 earnings per share for the current fiscal year.

About Alphabet

(Get Rating)

Alphabet, Inc engages in the business of delivering online advertising, cloud-based solutions that provide enterprise customers with infrastructure and platform services, the provision of communication and collaboration tools, and sales of other products and services such as apps and in-app purchases, hardware, and subscription-based products.