Keeler Thomas Management LLC Lowers Stake in Alphabet Inc. (NASDAQ:GOOGL)

Keeler Thomas Management LLC trimmed its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 1.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 32,371 shares of the information services provider’s stock after selling 503 shares during the period. Alphabet accounts for approximately 2.0% of Keeler Thomas Management LLC’s holdings, making the stock its 14th largest holding. Keeler Thomas Management LLC’s holdings in Alphabet were worth $5,896,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of GOOGL. Tennessee Valley Asset Management Partners acquired a new stake in Alphabet during the fourth quarter worth about $100,000. GUNN & Co INVESTMENT MANAGEMENT INC. purchased a new position in Alphabet in the fourth quarter valued at approximately $1,328,000. Monument Capital Management lifted its position in Alphabet by 279.4% during the fourth quarter. Monument Capital Management now owns 15,994 shares of the information services provider’s stock valued at $2,234,000 after buying an additional 11,778 shares in the last quarter. Townsend Asset Management Corp NC ADV grew its stake in Alphabet by 5.2% during the fourth quarter. Townsend Asset Management Corp NC ADV now owns 25,487 shares of the information services provider’s stock worth $3,560,000 after buying an additional 1,263 shares during the period. Finally, Sage Mountain Advisors LLC increased its position in shares of Alphabet by 2.4% in the fourth quarter. Sage Mountain Advisors LLC now owns 32,477 shares of the information services provider’s stock worth $4,537,000 after acquiring an additional 769 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $173.86, for a total value of $118,572.52. Following the transaction, the chief accounting officer now owns 29,966 shares of the company’s stock, valued at approximately $5,209,888.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP Prabhakar Raghavan sold 3,262 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $183.99, for a total value of $600,175.38. Following the completion of the sale, the senior vice president now owns 9 shares of the company’s stock, valued at $1,655.91. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $173.86, for a total transaction of $118,572.52. Following the transaction, the chief accounting officer now owns 29,966 shares in the company, valued at approximately $5,209,888.76. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 156,565 shares of company stock worth $26,823,893. Corporate insiders own 11.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Tigress Financial increased their price target on Alphabet from $176.00 to $210.00 and gave the company a “strong-buy” rating in a report on Friday, May 24th. Piper Sandler lifted their price target on shares of Alphabet from $200.00 to $206.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Stifel Nicolaus reissued a “buy” rating and issued a $196.00 price objective on shares of Alphabet in a research report on Wednesday, May 15th. JPMorgan Chase & Co. boosted their price target on Alphabet from $200.00 to $208.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Finally, Argus raised their price target on shares of Alphabet from $200.00 to $215.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Six research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $203.74.

Alphabet Stock Performance

Shares of NASDAQ GOOGL opened at $162.85 on Thursday. Alphabet Inc. has a 1 year low of $120.21 and a 1 year high of $191.75. The firm has a market cap of $2.01 trillion, a P/E ratio of 24.98, a PEG ratio of 1.28 and a beta of 1.05. The stock has a fifty day moving average price of $174.30 and a two-hundred day moving average price of $163.55. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The firm had revenue of $84.74 billion for the quarter, compared to analyst estimates of $70.60 billion. During the same period in the previous year, the company earned $1.44 earnings per share. Research analysts forecast that Alphabet Inc. will post 7.62 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 9th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.49%. The ex-dividend date of this dividend is Monday, September 9th. Alphabet’s dividend payout ratio is presently 12.27%.

About Alphabet

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.