Kendall Capital Management Acquires 570 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Kendall Capital Management lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,165 shares of the information services provider’s stock after purchasing an additional 570 shares during the period. Kendall Capital Management’s holdings in Alphabet were worth $2,964,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of GOOGL. Addison Advisors LLC boosted its holdings in Alphabet by 0.7% in the 4th quarter. Addison Advisors LLC now owns 7,527 shares of the information services provider’s stock valued at $1,425,000 after purchasing an additional 53 shares during the period. Burt Wealth Advisors boosted its stake in Alphabet by 1.0% during the fourth quarter. Burt Wealth Advisors now owns 5,307 shares of the information services provider’s stock valued at $1,005,000 after buying an additional 54 shares during the period. Perritt Capital Management Inc boosted its stake in Alphabet by 10.4% during the fourth quarter. Perritt Capital Management Inc now owns 618 shares of the information services provider’s stock valued at $117,000 after buying an additional 58 shares during the period. Nia Impact Advisors LLC boosted its stake in 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 period. Finally, Hanlon Investment Management Inc. boosted its stake in 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 period. 40.03% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John L. Hennessy sold 600 shares of the business’s stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $105,000.00. Following the completion of the transaction, the director owned 6,813 shares of the company’s stock, valued at approximately $1,192,275. The trade was a 8.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 215,643 shares of company stock worth $36,330,928 in the last three months. Insiders own 11.64% of the company’s stock.

Alphabet Price Performance

GOOGL stock opened at $179.08 on Friday. The firm has a 50 day moving average price of $168.70 and a 200-day moving average price of $173.87. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $207.05. The firm has a market capitalization of $2.17 trillion, a price-to-earnings ratio of 19.96, a PEG ratio of 1.26 and a beta of 1.00. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.02 by $0.79. The business had revenue of $76.49 billion during the quarter, compared to analysts’ expectations of $89.30 billion. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. During the same quarter in the previous year, the business earned $1.89 earnings per share. Equities research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were issued a $0.21 dividend. The ex-dividend date of this dividend was Monday, June 9th. This is a boost from Alphabet’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 0.47%. Alphabet’s payout ratio is 9.36%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on GOOGL. Piper Sandler lifted their price target on Alphabet from $185.00 to $195.00 and gave the company an “overweight” rating in a research report on Friday, April 25th. UBS Group set a $195.00 target price on shares of Alphabet in a research report on Friday, April 25th. Morgan Stanley dropped their target price on shares of Alphabet from $210.00 to $185.00 and set an “overweight” rating for the company in a research report on Thursday, April 17th. Westpark Capital reaffirmed a “buy” rating and set a $210.00 price objective on shares of Alphabet in a report on Thursday, May 8th. Finally, BNP Paribas downgraded shares of Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, June 26th. Ten investment analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and four have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $199.95.

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.