Alphabet Inc. (NASDAQ:GOOGL) Stake Increased by KG&L Capital Management LLC

KG&L Capital Management LLC lifted its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 10.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 71,720 shares of the information services provider’s stock after buying an additional 6,687 shares during the quarter. Alphabet accounts for 4.2% of KG&L Capital Management LLC’s portfolio, making the stock its 4th biggest holding. KG&L Capital Management LLC’s holdings in Alphabet were worth $10,018,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Advisory Alpha LLC boosted its stake in shares of Alphabet by 18.8% in the fourth quarter. Advisory Alpha LLC now owns 6,791 shares of the information services provider’s stock valued at $949,000 after buying an additional 1,075 shares in the last quarter. Crown Wealth Group LLC boosted its position in Alphabet by 7.5% during the fourth quarter. Crown Wealth Group LLC now owns 19,412 shares of the information services provider’s stock worth $2,712,000 after purchasing an additional 1,359 shares in the last quarter. Lewis Asset Management LLC purchased a new stake in Alphabet during the fourth quarter worth $1,206,000. Derbend Asset Management boosted its position in Alphabet by 33.3% during the fourth quarter. Derbend Asset Management now owns 2,721 shares of the information services provider’s stock worth $380,000 after purchasing an additional 679 shares in the last quarter. Finally, Insight Advisors LLC PA boosted its position in Alphabet by 1.1% during the fourth quarter. Insight Advisors LLC PA now owns 28,341 shares of the information services provider’s stock worth $3,959,000 after purchasing an additional 321 shares in the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Trading Up 1.1 %

Shares of GOOGL opened at $156.60 on Wednesday. The company has a market capitalization of $1.95 trillion, a P/E ratio of 27.00, a P/E/G ratio of 1.41 and a beta of 1.05. Alphabet Inc. has a one year low of $102.63 and a one year high of $158.56. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.10. The stock has a 50-day moving average price of $144.33 and a 200 day moving average price of $139.28.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The firm had revenue of $86.31 billion during the quarter, compared to the consensus estimate of $70.77 billion. During the same quarter in the prior year, the business posted $1.05 earnings per share. Sell-side analysts forecast that Alphabet Inc. will post 6.77 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on GOOGL. Roth Mkm decreased their target price on Alphabet from $166.00 to $164.00 and set a “buy” rating on the stock in a research report on Wednesday, January 31st. Wolfe Research boosted their target price on Alphabet from $170.00 to $180.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 31st. JMP Securities boosted their target price on Alphabet from $150.00 to $160.00 and gave the stock a “market outperform” rating in a research report on Wednesday, January 31st. Truist Financial reduced their price objective on Alphabet from $160.00 to $158.00 and set a “buy” rating on the stock in a research report on Wednesday, January 31st. Finally, Wedbush upped their price objective on Alphabet from $160.00 to $175.00 and gave the company an “outperform” rating in a research report on Friday, March 22nd. Five analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $155.39.

Insiders Place Their Bets

In other Alphabet news, SVP Prabhakar Raghavan sold 3,258 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $155.97, for a total transaction of $508,150.26. Following the transaction, the senior vice president now owns 144,685 shares of the company’s stock, valued at approximately $22,566,519.45. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Alphabet news, SVP Prabhakar Raghavan sold 3,258 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $155.97, for a total transaction of $508,150.26. Following the transaction, the senior vice president now owns 144,685 shares of the company’s stock, valued at approximately $22,566,519.45. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $155.67, for a total value of $3,502,575.00. Following the transaction, the chief executive officer now directly owns 2,325,513 shares in the company, valued at approximately $362,012,608.71. The disclosure for this sale can be found here. Insiders have sold a total of 250,539 shares of company stock valued at $35,906,259 in the last quarter. Insiders own 0.88% of the company’s stock.

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.