Alphabet Inc. (NASDAQ:GOOGL) Position Boosted by KRS Capital Management LLC

KRS Capital Management LLC lifted its stake in Alphabet Inc. (NASDAQ:GOOGL) by 2.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,640 shares of the information services provider’s stock after purchasing an additional 300 shares during the quarter. Alphabet accounts for 1.4% of KRS Capital Management LLC’s portfolio, making the stock its 11th largest position. KRS Capital Management LLC’s holdings in Alphabet were worth $1,757,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. RWQ Financial Management Services Inc. raised its position in Alphabet by 8.2% during the fourth quarter. RWQ Financial Management Services Inc. now owns 61,499 shares of the information services provider’s stock valued at $8,591,000 after acquiring an additional 4,664 shares in the last quarter. Picton Mahoney Asset Management increased its stake in shares of Alphabet by 55.4% during the 4th quarter. Picton Mahoney Asset Management now owns 214,443 shares of the information services provider’s stock worth $29,956,000 after purchasing an additional 76,410 shares during the last quarter. Robbins Farley raised its holdings in shares of Alphabet by 0.8% during the 4th quarter. Robbins Farley now owns 15,006 shares of the information services provider’s stock valued at $2,096,000 after purchasing an additional 118 shares in the last quarter. Nebula Research & Development LLC acquired a new stake in shares of Alphabet in the 4th quarter valued at $787,000. Finally, Quantum Financial Advisors LLC boosted its holdings in Alphabet by 8.0% in the third quarter. Quantum Financial Advisors LLC now owns 7,623 shares of the information services provider’s stock worth $998,000 after purchasing an additional 564 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $166.67, for a total transaction of $113,668.94. Following the completion of the transaction, the chief accounting officer now directly owns 29,284 shares in the company, valued at $4,880,764.28. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $155.67, for a total value of $3,502,575.00. Following the sale, the chief executive officer now directly owns 2,325,513 shares of the company’s stock, valued at $362,012,608.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $166.67, for a total transaction of $113,668.94. Following the completion of the transaction, the chief accounting officer now directly owns 29,284 shares of the company’s stock, valued at approximately $4,880,764.28. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 142,344 shares of company stock worth $23,920,676. Corporate insiders own 11.55% of the company’s stock.

Alphabet Stock Performance

Shares of GOOGL stock opened at $182.99 on Tuesday. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 12 month low of $115.35 and a 12 month high of $186.05. The stock has a market capitalization of $2.26 trillion, a P/E ratio of 28.07, a PEG ratio of 1.37 and a beta of 1.05. The firm’s 50 day moving average is $172.85 and its 200 day moving average is $154.44.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.49 by $0.40. The company had revenue of $80.54 billion during the quarter, compared to analysts’ expectations of $66.04 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. During the same quarter in the previous year, the company earned $1.17 earnings per share. On average, sell-side analysts anticipate that Alphabet Inc. will post 7.6 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 10th were issued a $0.20 dividend. The ex-dividend date was Monday, June 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.44%. Alphabet’s payout ratio is currently 12.27%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on GOOGL. Royal Bank of Canada increased their price objective on Alphabet from $155.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Robert W. Baird lifted their price target on shares of Alphabet from $160.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Wedbush upped their price objective on shares of Alphabet from $175.00 to $205.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Evercore ISI lifted their target price on shares of Alphabet from $220.00 to $225.00 and gave the stock an “outperform” rating in a report on Tuesday, June 11th. Finally, Piper Sandler restated an “overweight” rating and set a $200.00 price target (up from $160.00) on shares of Alphabet in a report on Friday, April 26th. Six investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $193.66.

Alphabet 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.