Kennedy Investment Group Has $3.79 Million Holdings in Alphabet Inc. (NASDAQ:GOOG)

Kennedy Investment Group lifted its stake in Alphabet Inc. (NASDAQ:GOOG) by 3.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,694 shares of the information services provider’s stock after acquiring an additional 825 shares during the period. Alphabet makes up 1.7% of Kennedy Investment Group’s portfolio, making the stock its 15th largest holding. Kennedy Investment Group’s holdings in Alphabet were worth $3,794,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. JPMorgan Chase & Co. increased its stake in Alphabet by 19.7% during the first quarter. JPMorgan Chase & Co. now owns 84,171,721 shares of the information services provider’s stock valued at $12,815,986,000 after acquiring an additional 13,876,534 shares during the period. Swedbank AB acquired a new stake in shares of Alphabet during the 1st quarter worth approximately $1,378,708,000. Capital International Investors increased its position in shares of Alphabet by 9.3% during the first quarter. Capital International Investors now owns 87,716,562 shares of the information services provider’s stock valued at $13,355,724,000 after purchasing an additional 7,470,042 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Alphabet by 51.8% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 6,416,150 shares of the information services provider’s stock valued at $976,923,000 after purchasing an additional 2,190,795 shares in the last quarter. Finally, Vima LLC boosted its position in shares of Alphabet by 178,253.1% during the 1st quarter. Vima LLC now owns 2,001,122 shares of the information services provider’s stock valued at $304,691,000 after acquiring an additional 2,000,000 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total value of $114,576.00. Following the transaction, the chief accounting officer now directly owns 31,334 shares in the company, valued at $5,264,112. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the transaction, the chief executive officer now owns 2,182,385 shares of the company’s stock, valued at $354,310,204.75. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $168.00, for a total transaction of $114,576.00. Following the transaction, the chief accounting officer now owns 31,334 shares of the company’s stock, valued at approximately $5,264,112. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 220,426 shares of company stock worth $35,993,340. Insiders own 12.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on GOOG. Oppenheimer dropped their target price on Alphabet from $210.00 to $185.00 and set an “outperform” rating for the company in a report on Wednesday, September 25th. DA Davidson raised Alphabet to a “hold” rating in a report on Tuesday, September 10th. Pivotal Research began coverage on shares of Alphabet in a report on Tuesday, October 1st. They issued a “buy” rating and a $215.00 target price on the stock. Cantor Fitzgerald raised shares of Alphabet to a “hold” rating in a report on Thursday, September 5th. Finally, Scotiabank assumed coverage on shares of Alphabet in a research report on Friday, October 11th. They issued a “sector outperform” rating and a $212.00 price target on the stock. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $186.90.

Alphabet Price Performance

Alphabet stock opened at $165.80 on Tuesday. The stock has a market cap of $2.05 trillion, a price-to-earnings ratio of 25.43, a P/E/G ratio of 1.21 and a beta of 1.04. Alphabet Inc. has a 12-month low of $121.46 and a 12-month high of $193.31. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. The business’s 50-day simple moving average is $163.21 and its 200 day simple moving average is $169.86.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $84.22 billion. During the same period in the previous year, the firm posted $1.44 earnings per share. Alphabet’s revenue for the quarter was up 13.6% compared to the same quarter last year. As a group, research analysts anticipate that Alphabet Inc. will post 7.64 earnings per share for the current year.

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.