Kendall Capital Management Acquires 1,995 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Kendall Capital Management raised its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 12.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,595 shares of the information services provider’s stock after purchasing an additional 1,995 shares during the quarter. Alphabet accounts for 1.0% of Kendall Capital Management’s investment portfolio, making the stock its 25th largest position. Kendall Capital Management’s holdings in Alphabet were worth $3,520,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in GOOGL. Coordinated Financial Services Inc. purchased a new position in Alphabet in the fourth quarter valued at about $552,000. Axis Wealth Partners LLC bought a new stake in shares of Alphabet in the 4th quarter worth approximately $370,000. Atlantic Union Bankshares Corp lifted its stake in Alphabet by 1.8% in the fourth quarter. Atlantic Union Bankshares Corp now owns 124,134 shares of the information services provider’s stock valued at $23,499,000 after purchasing an additional 2,208 shares during the last quarter. Amundi grew its holdings in Alphabet by 18.7% during the fourth quarter. Amundi now owns 29,866,698 shares of the information services provider’s stock valued at $5,792,317,000 after purchasing an additional 4,694,621 shares during the period. Finally, Permanent Capital Management LP purchased a new stake in Alphabet in the fourth quarter worth $273,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on GOOGL shares. Roth Mkm reiterated a “buy” rating and set a $220.00 price target on shares of Alphabet in a research note on Wednesday. JMP Securities reiterated a “market perform” rating on shares of Alphabet in a research report on Wednesday, February 5th. Needham & Company LLC reiterated a “buy” rating and issued a $225.00 target price on shares of Alphabet in a research note on Wednesday, February 5th. 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. Finally, KeyCorp reduced their price objective on shares of Alphabet from $220.00 to $202.00 and set an “overweight” rating for the company in a research note on Tuesday. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $210.59.

Alphabet Stock Up 0.7 %

Shares of NASDAQ GOOGL opened at $163.99 on Friday. The stock has a market capitalization of $2.00 trillion, a P/E ratio of 20.37, a PEG ratio of 1.34 and a beta of 1.02. Alphabet Inc. has a one year low of $147.22 and a one year high of $207.05. The firm’s 50 day simple moving average is $182.57 and its two-hundred day simple moving average is $176.38. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84.

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

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were issued a $0.20 dividend. The ex-dividend date was Monday, March 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.49%. Alphabet’s dividend payout ratio is currently 9.94%.

Insider Activity at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 1,368 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $191.55, for a total value of $262,040.40. Following the transaction, the chief accounting officer now owns 20,681 shares in the company, valued at approximately $3,961,445.55. The trade was a 6.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Kent Walker sold 16,820 shares of the stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the sale, the insider now owns 43,981 shares of the company’s stock, 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. Insiders sold 93,048 shares of company stock worth $17,374,274 in the last ninety days. 11.55% of the stock is owned by company insiders.

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.