KG&L Capital Management LLC Has $11.52 Million Stake in Alphabet Inc. (NASDAQ:GOOGL)

KG&L Capital Management LLC lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 5.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 63,253 shares of the information services provider’s stock after selling 3,446 shares during the period. Alphabet comprises approximately 4.0% of KG&L Capital Management LLC’s investment portfolio, making the stock its 3rd biggest holding. KG&L Capital Management LLC’s holdings in Alphabet were worth $11,521,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of GOOGL. Tributary Capital Management LLC purchased a new position in Alphabet in the first quarter worth $30,000. Vermillion & White Wealth Management Group LLC purchased a new position in Alphabet in the fourth quarter worth $30,000. DiNuzzo Private Wealth Inc. purchased a new position in Alphabet in the fourth quarter worth $38,000. CarsonAllaria Wealth Management Ltd. grew its holdings in Alphabet by 59.2% in the first quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock worth $44,000 after purchasing an additional 109 shares during the last quarter. Finally, Richardson Capital Management LLC grew its holdings in Alphabet by 87.5% in the first quarter. Richardson Capital Management LLC now owns 300 shares of the information services provider’s stock worth $45,000 after purchasing an additional 140 shares during the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GOOGL has been the topic of a number of research analyst reports. Roth Mkm boosted their price objective on shares of Alphabet from $202.00 to $206.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Morgan Stanley boosted their price objective on shares of Alphabet from $195.00 to $210.00 and gave the company an “overweight” rating in a report on Tuesday, July 23rd. Argus boosted their price objective on shares of Alphabet from $200.00 to $215.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Wolfe Research initiated coverage on shares of Alphabet in a report on Tuesday, July 16th. They set an “outperform” rating and a $240.00 price objective on the stock. Finally, Loop Capital reissued a “hold” rating and set a $170.00 price objective on shares of Alphabet in a report on Wednesday, July 3rd. Six investment 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’s stock. Based on data from MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and an average price target of $203.74.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $173.86, for a total value of $118,572.52. Following the transaction, the chief accounting officer now directly owns 29,966 shares in the company, valued at approximately $5,209,888.76. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $176.58, for a total value of $3,973,050.00. Following the transaction, the chief executive officer now directly owns 2,235,511 shares in the company, valued at approximately $394,746,532.38. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $173.86, for a total transaction of $118,572.52. Following the completion of the transaction, the chief accounting officer now owns 29,966 shares in the company, valued at $5,209,888.76. The disclosure for this sale can be found here. In the last three months, insiders have sold 156,565 shares of company stock worth $26,823,893. 11.55% of the stock is currently owned by insiders.

Alphabet Stock Down 1.1 %

Shares of NASDAQ GOOGL opened at $162.85 on Thursday. Alphabet Inc. has a 12-month low of $120.21 and a 12-month high of $191.75. The stock has a market cap of $2.01 trillion, a PE ratio of 24.98, a P/E/G ratio of 1.28 and a beta of 1.05. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. The company has a 50-day moving average of $174.30 and a 200 day moving average of $163.55.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The business had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $70.60 billion. During the same quarter in the prior year, the company posted $1.44 EPS. As a group, sell-side analysts predict that Alphabet Inc. will post 7.62 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 9th will be paid a $0.20 dividend. The ex-dividend date is Monday, September 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.49%. Alphabet’s dividend payout ratio (DPR) is 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.