KPP Advisory Services LLC Buys 245 Shares of Alphabet Inc. $GOOGL

KPP Advisory Services LLC raised its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,256 shares of the information services provider’s stock after acquiring an additional 245 shares during the quarter. KPP Advisory Services LLC’s holdings in Alphabet were worth $3,394,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Capital Advisors Inc. OK boosted its position in Alphabet by 8.3% during the 2nd quarter. Capital Advisors Inc. OK now owns 30,054 shares of the information services provider’s stock valued at $5,296,000 after acquiring an additional 2,315 shares in the last quarter. Comprehensive Financial Consultants Institutional Inc. boosted its position in Alphabet by 3.0% during the 2nd quarter. Comprehensive Financial Consultants Institutional Inc. now owns 14,899 shares of the information services provider’s stock valued at $2,626,000 after acquiring an additional 427 shares in the last quarter. Iowa State Bank boosted its position in shares of Alphabet by 0.8% in the 2nd quarter. Iowa State Bank now owns 47,331 shares of the information services provider’s stock worth $8,341,000 after purchasing an additional 360 shares in the last quarter. Relyea Zuckerberg Hanson LLC boosted its position in shares of Alphabet by 3.5% in the 2nd quarter. Relyea Zuckerberg Hanson LLC now owns 28,868 shares of the information services provider’s stock worth $5,087,000 after purchasing an additional 976 shares in the last quarter. Finally, HRC Wealth Management LLC acquired a new stake in shares of Alphabet in the 2nd quarter worth $211,000. Institutional investors own 40.03% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on GOOGL. DA Davidson raised their price objective on Alphabet from $180.00 to $190.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 2nd. Canaccord Genuity Group raised their price objective on Alphabet from $230.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, September 4th. Wall Street Zen cut Alphabet from a “buy” rating to a “hold” rating in a research report on Sunday, September 21st. Roth Capital raised their target price on Alphabet from $205.00 to $210.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. Finally, Mizuho set a $295.00 target price on Alphabet and gave the stock an “outperform” rating in a research note on Monday, September 29th. Four analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $249.26.

Insiders Place Their Bets

In other news, insider John Kent Walker sold 17,816 shares of the stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $247.42, for a total value of $4,408,034.72. Following the completion of the sale, the insider directly owned 42,985 shares in the company, valued at $10,635,348.70. This represents a 29.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Frances Arnold sold 103 shares of the business’s stock in a transaction that occurred on Tuesday, September 30th. The stock was sold at an average price of $243.13, for a total value of $25,042.39. Following the transaction, the director owned 17,284 shares in the company, valued at approximately $4,202,258.92. This represents a 0.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 243,838 shares of company stock valued at $53,070,333. Corporate insiders own 11.55% of the company’s stock.

Alphabet Price Performance

Shares of Alphabet stock opened at $245.45 on Wednesday. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $256.00. The business has a 50-day moving average price of $228.31 and a 200 day moving average price of $189.86. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The firm has a market cap of $2.97 trillion, a PE ratio of 26.14, a P/E/G ratio of 1.65 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping the consensus estimate of $2.15 by $0.16. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The company had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.60 billion. Sell-side analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date was Monday, September 8th. Alphabet’s payout ratio is 8.95%.

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.