Kendall Capital Management Sells 383 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Kendall Capital Management lowered its position in Alphabet Inc. (NASDAQ:GOOGL) by 2.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,587 shares of the information services provider’s stock after selling 383 shares during the period. Kendall Capital Management’s holdings in Alphabet were worth $2,038,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Executive Wealth Management LLC grew its holdings in Alphabet by 7.9% during the 4th quarter. Executive Wealth Management LLC now owns 43,054 shares of the information services provider’s stock worth $6,014,000 after acquiring an additional 3,160 shares during the period. Plimoth Trust Co. LLC grew its holdings in shares of Alphabet by 0.4% in the 4th quarter. Plimoth Trust Co. LLC now owns 65,440 shares of the information services provider’s stock valued at $9,141,000 after buying an additional 252 shares during the period. Capasso Planning Partners LLC grew its holdings in shares of Alphabet by 3.7% in the 4th quarter. Capasso Planning Partners LLC now owns 2,638 shares of the information services provider’s stock valued at $369,000 after buying an additional 94 shares during the period. Albion Financial Group UT grew its holdings in shares of Alphabet by 1.7% in the 4th quarter. Albion Financial Group UT now owns 264,186 shares of the information services provider’s stock valued at $36,904,000 after buying an additional 4,375 shares during the period. Finally, Soltis Investment Advisors LLC grew its holdings in shares of Alphabet by 5.1% in the 4th quarter. Soltis Investment Advisors LLC now owns 51,055 shares of the information services provider’s stock valued at $7,132,000 after buying an additional 2,494 shares during the period. Institutional investors own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of several research analyst reports. Citigroup reissued a “buy” rating and issued a $168.00 price target on shares of Alphabet in a report on Wednesday, April 10th. Wells Fargo & Company decreased their price target on shares of Alphabet from $144.00 to $141.00 and set an “equal weight” rating for the company in a report on Wednesday, April 3rd. Needham & Company LLC reissued a “buy” rating and issued a $160.00 price target on shares of Alphabet in a report on Wednesday, January 31st. Royal Bank of Canada reissued an “outperform” rating and issued a $155.00 price target on shares of Alphabet in a report on Wednesday, January 31st. Finally, Wedbush reaffirmed an “outperform” rating and issued a $175.00 target price on shares of Alphabet in a research note on Wednesday, April 10th. Five research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and a consensus price target of $157.00.

Alphabet Stock Up 0.7 %

Alphabet stock opened at $155.47 on Thursday. The company’s 50-day moving average price is $145.95 and its two-hundred day moving average price is $140.29. Alphabet Inc. has a twelve month low of $102.63 and a twelve month high of $160.22. The stock has a market cap of $1.93 trillion, a P/E ratio of 26.81, a P/E/G ratio of 1.43 and a beta of 1.05. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.04. The business had revenue of $86.31 billion for the quarter, compared to analyst estimates of $70.77 billion. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. During the same quarter last year, the business posted $1.05 EPS. As a group, analysts expect that Alphabet Inc. will post 6.78 EPS for the current year.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $146.29, for a total transaction of $3,291,525.00. Following the sale, the chief executive officer now owns 2,377,691 shares in the company, valued at approximately $347,832,416.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $146.29, for a total value of $3,291,525.00. Following the completion of the transaction, the chief executive officer now owns 2,377,691 shares of the company’s stock, valued at approximately $347,832,416.39. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 660 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $143.59, for a total transaction of $94,769.40. Following the completion of the transaction, the chief accounting officer now directly owns 27,920 shares of the company’s stock, valued at approximately $4,009,032.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 251,339 shares of company stock worth $36,377,482. Corporate insiders own 0.88% of the company’s stock.

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.