Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Kennon Green & Company LLC

Kennon Green & Company LLC cut its stake in Alphabet Inc. (NASDAQ:GOOGL) by 5.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 36,787 shares of the information services provider’s stock after selling 2,307 shares during the period. Alphabet makes up approximately 6.0% of Kennon Green & Company LLC’s holdings, making the stock its 3rd biggest position. Kennon Green & Company LLC’s holdings in Alphabet were worth $6,964,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Compass Planning Associates Inc bought a new position in Alphabet in the fourth quarter worth $30,000. LMR Partners LLP bought a new stake in Alphabet in the 3rd quarter valued at $32,000. E Fund Management Hong Kong Co. Ltd. raised its stake in shares of Alphabet by 518.8% in the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock valued at $37,000 after buying an additional 166 shares in the last quarter. Fiduciary Advisors Inc. bought a new position in shares of Alphabet during the 4th quarter worth about $39,000. Finally, PayPay Securities Corp boosted its position in shares of Alphabet by 36.1% during the 4th quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock valued at $46,000 after acquiring an additional 65 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on GOOGL. Robert W. Baird restated an “outperform” rating and set a $205.00 price target on shares of Alphabet in a research note on Tuesday, December 10th. JMP Securities restated a “market perform” rating on shares of Alphabet in a research report on Wednesday, February 5th. Morgan Stanley lowered their price target on Alphabet from $215.00 to $210.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. Citigroup dropped their price objective on Alphabet from $232.00 to $229.00 and set a “buy” rating for the company in a research note on Wednesday, February 5th. Finally, Citizens Jmp downgraded shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Ten research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $210.62.

Alphabet Price Performance

GOOGL opened at $172.35 on Friday. The company has a fifty day simple moving average of $188.59 and a 200 day simple moving average of $176.35. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The stock has a market cap of $2.10 trillion, a P/E ratio of 21.41, a P/E/G ratio of 1.34 and a beta of 0.99. Alphabet Inc. has a 12 month low of $131.61 and a 12 month high of $207.05.

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

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date of this dividend is Monday, March 10th. Alphabet’s payout ratio is currently 9.94%.

Insider Activity

In other Alphabet news, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $194.22, for a total value of $291,330.00. Following the sale, the director now owns 23,324 shares of the company’s stock, valued at $4,529,987.28. This trade represents a 6.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 1,374 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $173.47, for a total value of $238,347.78. Following the completion of the sale, the chief accounting officer now owns 15,024 shares in the company, valued at approximately $2,606,213.28. This trade represents a 8.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 134,316 shares of company stock worth $25,062,887 over the last quarter. 11.55% of the stock is currently owned by company insiders.

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.