Kelman Lazarov Inc. Cuts Stake in Alphabet Inc. $GOOGL

Kelman Lazarov Inc. reduced its position in Alphabet Inc. (NASDAQ:GOOGL) by 0.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,164 shares of the information services provider’s stock after selling 78 shares during the quarter. Kelman Lazarov Inc.’s holdings in Alphabet were worth $2,320,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Guardian Wealth Management Inc. grew its holdings in Alphabet by 242.9% in the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock worth $26,000 after purchasing an additional 119 shares during the last quarter. IMA Advisory Services Inc. purchased a new stake in shares of Alphabet during the first quarter valued at $28,000. von Borstel & Associates Inc. purchased a new stake in shares of Alphabet during the first quarter valued at $28,000. NBZ Investment Advisors LLC grew its holdings in shares of Alphabet by 85.7% during the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock valued at $30,000 after buying an additional 90 shares during the last quarter. Finally, CarsonAllaria Wealth Management Ltd. grew its holdings in shares of Alphabet by 36.4% during the second quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider’s stock valued at $44,000 after buying an additional 67 shares during the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Alphabet

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 transaction of $4,408,034.72. Following the sale, the insider directly owned 42,985 shares of the company’s stock, valued at $10,635,348.70. This represents a 29.30% decrease in their position. The transaction 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 stock in a transaction dated Monday, October 13th. The stock was sold at an average price of $242.92, for a total transaction of $145,752.00. Following the sale, the director directly owned 5,116 shares in the company, valued at approximately $1,242,778.72. The trade was a 10.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 246,150 shares of company stock worth $55,805,379. 11.64% of the stock is currently owned by company insiders.

Alphabet Trading Up 2.7%

GOOGL stock opened at $274.57 on Thursday. The company’s 50-day simple moving average is $240.86 and its 200-day simple moving average is $198.25. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $275.34. The firm has a market cap of $3.32 trillion, a P/E ratio of 29.24, a PEG ratio of 1.81 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.58. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. As a group, equities analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on GOOGL shares. Tigress Financial boosted their price objective on shares of Alphabet from $240.00 to $280.00 and gave the company a “strong-buy” rating in a report on Friday, September 5th. Wall Street Zen lowered shares of Alphabet from a “buy” rating to a “hold” rating in a report on Sunday, September 21st. BNP Paribas Exane boosted their price objective on shares of Alphabet from $187.00 to $247.00 and gave the company a “neutral” rating in a report on Tuesday, October 21st. Wells Fargo & Company set a $236.00 price objective on shares of Alphabet and gave the company an “equal weight” rating in a report on Tuesday, October 7th. Finally, Needham & Company LLC upped their price target on shares of Alphabet from $220.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, September 3rd. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-two have given a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $266.69.

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.