Kanawha Capital Management LLC Has $25.39 Million Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Kanawha Capital Management LLC boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.0% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 153,088 shares of the information services provider’s stock after buying an additional 1,485 shares during the period. Alphabet makes up approximately 1.8% of Kanawha Capital Management LLC’s holdings, making the stock its 13th biggest holding. Kanawha Capital Management LLC’s holdings in Alphabet were worth $25,390,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of GOOGL. KG&L Capital Management LLC raised its holdings in shares of Alphabet by 14.2% in the third quarter. KG&L Capital Management LLC now owns 72,237 shares of the information services provider’s stock valued at $11,980,000 after purchasing an additional 8,984 shares during the last quarter. Forum Financial Management LP raised its holdings in shares of Alphabet by 2.2% in the third quarter. Forum Financial Management LP now owns 74,404 shares of the information services provider’s stock valued at $12,340,000 after purchasing an additional 1,597 shares during the last quarter. Blue Square Asset Management LLC raised its holdings in shares of Alphabet by 4.5% in the third quarter. Blue Square Asset Management LLC now owns 23,403 shares of the information services provider’s stock valued at $3,881,000 after purchasing an additional 1,001 shares during the last quarter. Lansing Street Advisors raised its holdings in shares of Alphabet by 1.4% in the third quarter. Lansing Street Advisors now owns 8,388 shares of the information services provider’s stock valued at $1,391,000 after purchasing an additional 114 shares during the last quarter. Finally, TrueWealth Advisors LLC raised its holdings in shares of Alphabet by 16.0% in the third quarter. TrueWealth Advisors LLC now owns 4,955 shares of the information services provider’s stock valued at $822,000 after purchasing an additional 685 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on GOOGL. Rosenblatt Securities reiterated a “neutral” rating and issued a $181.00 price objective on shares of Alphabet in a report on Wednesday, July 24th. China Renaissance upgraded shares of Alphabet from a “hold” rating to a “buy” rating in a report on Thursday, October 31st. Royal Bank of Canada raised their target price on shares of Alphabet from $204.00 to $210.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Phillip Securities raised shares of Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. Finally, DA Davidson assumed coverage on shares of Alphabet in a research note on Tuesday, September 10th. They issued a “neutral” rating and a $170.00 target price for the company. Seven investment analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have given a strong buy rating to the stock. According to MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and an average price target of $205.90.

Insider Activity

In other news, CAO Amie Thuener O’toole sold 2,835 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total value of $429,587.55. Following the completion of the transaction, the chief accounting officer now directly owns 29,182 shares in the company, valued at approximately $4,421,948.46. The trade was a 8.85 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $167.66, for a total transaction of $3,772,350.00. Following the completion of the transaction, the chief executive officer now owns 2,159,885 shares of the company’s stock, valued at $362,126,319.10. The trade was a 1.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 206,795 shares of company stock worth $34,471,141. 11.55% of the stock is currently owned by corporate insiders.

Alphabet Stock Down 1.8 %

GOOGL opened at $172.49 on Friday. Alphabet Inc. has a fifty-two week low of $127.90 and a fifty-two week high of $191.75. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The company has a market capitalization of $2.11 trillion, a P/E ratio of 22.88, a P/E/G ratio of 1.27 and a beta of 1.03. The stock has a fifty day moving average of $165.61 and a 200-day moving average of $170.13.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The company had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same quarter last year, the firm earned $1.55 earnings per share. On average, equities analysts expect that Alphabet Inc. will post 7.99 EPS for the current year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.46%. The ex-dividend date is Monday, December 9th. Alphabet’s payout ratio is presently 10.61%.

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.