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

Kennon Green & Company LLC reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 10.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 33,046 shares of the information services provider’s stock after selling 3,741 shares during the quarter. Alphabet comprises 4.2% of Kennon Green & Company LLC’s portfolio, making the stock its 8th biggest position. Kennon Green & Company LLC’s holdings in Alphabet were worth $5,110,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of GOOGL. Anderson Financial Strategies LLC acquired a new position in shares of Alphabet in the 4th quarter valued at approximately $49,000. Navigoe LLC acquired a new position in shares of Alphabet in the 4th quarter valued at approximately $51,000. Prudent Man Investment Management Inc. acquired a new position in shares of Alphabet in the 4th quarter valued at approximately $53,000. Campbell Capital Management Inc. acquired a new position in shares of Alphabet in the 4th quarter valued at approximately $57,000. Finally, EQ Wealth Advisors LLC acquired a new position in shares of Alphabet in the 1st quarter valued at approximately $49,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Price Performance

NASDAQ:GOOGL opened at $179.08 on Monday. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03. The business’s 50-day simple moving average is $168.70 and its two-hundred day simple moving average is $173.77. The stock has a market cap of $2.17 trillion, a PE ratio of 19.96, a P/E/G ratio of 1.26 and a beta of 1.00. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $207.05.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating analysts’ consensus estimates of $2.02 by $0.79. The firm had revenue of $76.49 billion during the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. During the same quarter last year, the business posted $1.89 earnings per share. As a group, analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were paid a dividend of $0.21 per share. This is a boost from Alphabet’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 0.47%. The ex-dividend date of this dividend was Monday, June 9th. Alphabet’s payout ratio is presently 9.36%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. BMO Capital Markets reiterated an “outperform” rating and issued a $200.00 price objective (down from $230.00) on shares of Alphabet in a research report on Thursday, April 17th. Bank of America boosted their price objective on Alphabet from $185.00 to $200.00 and gave the company a “buy” rating in a research report on Friday, April 25th. Mizuho cut their target price on Alphabet from $230.00 to $205.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 9th. Royal Bank Of Canada restated an “outperform” rating and issued a $200.00 target price on shares of Alphabet in a research note on Wednesday, April 23rd. Finally, Piper Sandler boosted their target price on Alphabet from $185.00 to $195.00 and gave the company an “overweight” rating in a research note on Friday, April 25th. Ten investment analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and an average target price of $199.95.

Insiders Place Their Bets

In other Alphabet news, Director Kavitark Ram Shriram sold 9,000 shares of the business’s stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $1,575,000.00. Following the sale, the director directly owned 255,400 shares of the company’s stock, valued at $44,695,000. The trade was a 3.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John L. Hennessy sold 600 shares of the business’s stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $105,000.00. Following the transaction, the director owned 6,813 shares of the company’s stock, valued at $1,192,275. This trade represents a 8.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 215,643 shares of company stock valued at $36,330,928 over the last ninety days. 11.55% of the stock is owned by 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.