Kennedy Investment Group Acquires 256 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Kennedy Investment Group grew its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 4.0% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,713 shares of the information services provider’s stock after buying an additional 256 shares during the period. Kennedy Investment Group’s holdings in Alphabet were worth $1,113,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Christopher J. Hasenberg Inc boosted its position in shares of Alphabet by 75.0% during the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after buying an additional 60 shares during the period. Kings Path Partners LLC purchased a new position in Alphabet during the 2nd quarter valued at $36,000. Tributary Capital Management LLC purchased a new position in Alphabet during the 1st quarter valued at $30,000. Denver PWM LLC purchased a new stake in Alphabet in the second quarter worth $41,000. Finally, Quarry LP bought a new stake in shares of Alphabet during the second quarter worth $53,000. 40.03% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $166.30, for a total transaction of $3,741,750.00. Following the completion of the transaction, the chief executive officer now directly owns 2,106,806 shares in the company, valued at $350,361,837.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total transaction of $109,420.08. Following the transaction, the chief accounting officer now owns 32,017 shares in the company, valued at approximately $5,136,807.48. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $166.30, for a total value of $3,741,750.00. Following the completion of the transaction, the chief executive officer now owns 2,106,806 shares in the company, valued at $350,361,837.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 219,744 shares of company stock valued at $35,878,764. Insiders own 11.55% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on GOOGL shares. Morgan Stanley boosted their price target on shares of Alphabet from $190.00 to $205.00 and gave the company an “overweight” rating in a report on Wednesday. Bank of America boosted their price objective on shares of Alphabet from $206.00 to $210.00 and gave the stock a “buy” rating in a research note on Wednesday. Seaport Res Ptn raised Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday. TD Securities boosted their price target on Alphabet from $200.00 to $220.00 in a research report on Wednesday, July 10th. Finally, Jefferies Financial Group raised their price objective on Alphabet from $215.00 to $220.00 in a research report on Tuesday, July 9th. Seven equities research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $205.51.

Alphabet Trading Down 1.9 %

Shares of NASDAQ:GOOGL opened at $171.11 on Friday. The business’s 50 day simple moving average is $162.32 and its 200 day simple moving average is $168.79. The company has a market capitalization of $2.11 trillion, a P/E ratio of 26.24, a P/E/G ratio of 1.27 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. Alphabet Inc. has a 1 year low of $122.68 and a 1 year high of $191.75.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The business had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $72.85 billion. During the same period last year, the firm posted $1.55 earnings per share. On average, research analysts anticipate that Alphabet Inc. will post 7.65 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.47%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is currently 12.27%.

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.