Kinney Asset Management LLC Reduces Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Kinney Asset Management LLC cut its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 15.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 131,799 shares of the information services provider’s stock after selling 25,000 shares during the period. Alphabet comprises approximately 24.9% of Kinney Asset Management LLC’s portfolio, making the stock its 2nd biggest holding. Kinney Asset Management LLC’s holdings in Alphabet were worth $24,950,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Raleigh Capital Management Inc. raised its holdings in shares of Alphabet by 6.2% in the 3rd quarter. Raleigh Capital Management Inc. now owns 16,870 shares of the information services provider’s stock worth $2,798,000 after purchasing an additional 987 shares during the period. Integrity Financial Corp WA increased its position in Alphabet by 1.1% in the third quarter. Integrity Financial Corp WA now owns 6,977 shares of the information services provider’s stock worth $1,157,000 after buying an additional 75 shares during the last quarter. Kaye Capital Management raised its stake in shares of Alphabet by 1.0% in the third quarter. Kaye Capital Management now owns 6,827 shares of the information services provider’s stock valued at $1,132,000 after buying an additional 65 shares during the period. Ledyard National Bank lifted its position in shares of Alphabet by 0.4% during the 3rd quarter. Ledyard National Bank now owns 109,121 shares of the information services provider’s stock valued at $18,098,000 after buying an additional 458 shares during the last quarter. Finally, Telos Capital Management Inc. lifted its position in shares of Alphabet by 0.4% during the 3rd quarter. Telos Capital Management Inc. now owns 111,714 shares of the information services provider’s stock valued at $18,528,000 after buying an additional 418 shares during the last quarter. 40.03% of the stock is owned by institutional investors.

Alphabet Stock Performance

NASDAQ GOOGL opened at $170.33 on Friday. The company has a 50-day simple moving average of $190.58 and a two-hundred day simple moving average of $176.20. Alphabet Inc. has a 12-month low of $130.66 and a 12-month high of $207.05. The firm has a market cap of $2.08 trillion, a price-to-earnings ratio of 21.16, a PEG ratio of 1.34 and a beta of 0.99. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. On average, equities analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.47%. The ex-dividend date of this dividend is Monday, March 10th. Alphabet’s dividend payout ratio is 9.94%.

Insider Transactions at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 1,367 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $170.41, for a total transaction of $232,950.47. Following the completion of the transaction, the chief accounting officer now owns 23,515 shares of the company’s stock, valued at $4,007,191.15. This represents a 5.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider John Kent Walker sold 16,820 shares of Alphabet stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $192.62, for a total value of $3,239,868.40. Following the completion of the sale, the insider now owns 43,981 shares in the company, valued at approximately $8,471,620.22. This represents a 27.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 134,309 shares of company stock worth $25,057,490. Insiders own 11.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on GOOGL. Citizens Jmp lowered Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. KeyCorp lifted their target price on shares of Alphabet from $215.00 to $225.00 and gave the stock an “overweight” rating in a research note on Friday, January 10th. Wolfe Research upped their price target on shares of Alphabet from $220.00 to $230.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. DZ Bank downgraded shares of Alphabet from a “buy” rating to a “hold” rating and set a $198.00 price objective for the company. in a report on Thursday, February 6th. Finally, Piper Sandler lowered their target price on shares of Alphabet from $210.00 to $208.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and an average target price of $210.62.

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.