Kennedy Investment Group Raises Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Kennedy Investment Group grew its stake in Alphabet Inc. (NASDAQ:GOOGL) by 8.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,086 shares of the information services provider’s stock after purchasing an additional 460 shares during the quarter. Kennedy Investment Group’s holdings in Alphabet were worth $850,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. HTG Investment Advisors Inc. purchased a new stake in shares of Alphabet during the fourth quarter worth approximately $203,000. Wealthspan Partners LLC grew its holdings in shares of Alphabet by 4.3% during the fourth quarter. Wealthspan Partners LLC now owns 2,647 shares of the information services provider’s stock worth $370,000 after buying an additional 110 shares in the last quarter. Benedict Financial Advisors Inc. raised its position in shares of Alphabet by 2.7% in the fourth quarter. Benedict Financial Advisors Inc. now owns 19,416 shares of the information services provider’s stock valued at $2,712,000 after buying an additional 505 shares during the last quarter. Wealth Effects LLC lifted its stake in shares of Alphabet by 9.7% in the fourth quarter. Wealth Effects LLC now owns 36,070 shares of the information services provider’s stock worth $5,039,000 after buying an additional 3,180 shares in the last quarter. Finally, Sutton Place Investors LLC acquired a new position in Alphabet during the fourth quarter worth about $1,806,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Stock Up 0.3 %

Shares of NASDAQ GOOGL opened at $156.01 on Friday. Alphabet Inc. has a 12-month low of $102.63 and a 12-month high of $160.22. The stock has a market cap of $1.94 trillion, a P/E ratio of 26.90, a PEG ratio of 1.42 and a beta of 1.05. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05. The business’s fifty day simple moving average is $146.16 and its 200-day simple moving average is $140.40.

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, beating analysts’ consensus estimates of $1.60 by $0.04. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The company had revenue of $86.31 billion for the quarter, compared to analyst estimates of $70.77 billion. During the same quarter last year, the company earned $1.05 EPS. As a group, equities analysts predict that Alphabet Inc. will post 6.78 EPS for the current fiscal year.

Insider Buying and Selling

In other Alphabet news, Director Frances Arnold sold 230 shares of the stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total value of $35,433.80. Following the sale, the director now directly owns 15,104 shares of the company’s stock, valued at approximately $2,326,922.24. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Alphabet news, Director Frances Arnold sold 230 shares of the firm’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total value of $35,433.80. Following the sale, the director now directly owns 15,104 shares in the company, valued at $2,326,922.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $157.41, for a total value of $3,541,725.00. Following the completion of the transaction, the chief executive officer now directly owns 2,303,011 shares of the company’s stock, valued at $362,516,961.51. The disclosure for this sale can be found here. Insiders sold 251,339 shares of company stock worth $36,377,482 over the last 90 days. 0.88% of the stock is owned by insiders.

Analyst Ratings Changes

GOOGL has been the topic of a number of research reports. Citigroup reissued a “buy” rating and issued a $168.00 target price on shares of Alphabet in a research note on Wednesday, April 10th. Wells Fargo & Company lowered their price objective on Alphabet from $144.00 to $141.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 3rd. KeyCorp raised their target price on Alphabet from $153.00 to $165.00 and gave the stock an “overweight” rating in a research note on Monday, January 29th. UBS Group boosted their price target on shares of Alphabet from $150.00 to $166.00 and gave the company a “neutral” rating in a research report on Tuesday. Finally, JMP Securities restated a “market outperform” rating and set a $160.00 price objective on shares of Alphabet in a research report on Wednesday, April 10th. Five investment analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $157.97.

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.