Kimelman & Baird LLC Has $50.12 Million Position in Alphabet Inc. $GOOGL

Kimelman & Baird LLC decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3.7% in the fourth quarter, Holdings Channel reports. The firm owned 160,123 shares of the information services provider’s stock after selling 6,074 shares during the quarter. Alphabet comprises about 3.9% of Kimelman & Baird LLC’s portfolio, making the stock its 7th biggest holding. Kimelman & Baird LLC’s holdings in Alphabet were worth $50,118,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GOOGL. Berkshire Hathaway Inc bought a new position in Alphabet during the third quarter worth about $4,338,397,000. Vanguard Group Inc. lifted its stake in Alphabet by 2.4% during the fourth quarter. Vanguard Group Inc. now owns 528,969,322 shares of the information services provider’s stock worth $165,567,398,000 after purchasing an additional 12,531,695 shares during the period. Capital World Investors lifted its stake in Alphabet by 28.0% during the third quarter. Capital World Investors now owns 53,107,572 shares of the information services provider’s stock worth $12,910,542,000 after purchasing an additional 11,605,785 shares during the period. Capital Research Global Investors lifted its stake in Alphabet by 15.7% during the third quarter. Capital Research Global Investors now owns 50,732,476 shares of the information services provider’s stock worth $12,333,076,000 after purchasing an additional 6,874,381 shares during the period. Finally, Mizuho Markets Cayman LP lifted its stake in Alphabet by 23,402.1% during the third quarter. Mizuho Markets Cayman LP now owns 6,118,547 shares of the information services provider’s stock worth $1,487,419,000 after purchasing an additional 6,092,513 shares during the period. Institutional investors own 40.03% of the company’s stock.

Alphabet Stock Performance

NASDAQ GOOGL opened at $368.53 on Friday. The firm has a market cap of $4.47 trillion, a price-to-earnings ratio of 28.11, a PEG ratio of 1.59 and a beta of 1.23. The company has a 50 day moving average of $352.70 and a 200-day moving average of $327.81. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.16. Alphabet Inc. has a 1-year low of $162.00 and a 1-year high of $408.61.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Wednesday, April 29th. The information services provider reported $5.11 earnings per share for the quarter, topping the consensus estimate of $2.64 by $2.47. The company had revenue of $109.90 billion during the quarter, compared to analyst estimates of $106.98 billion. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. On average, equities analysts forecast that Alphabet Inc. will post 14.29 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 8th will be issued a $0.22 dividend. This is an increase from Alphabet’s previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend is Monday, June 8th. Alphabet’s dividend payout ratio (DPR) is 6.41%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on GOOGL shares. The Goldman Sachs Group raised their price target on shares of Alphabet from $400.00 to $450.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Rothschild & Co Redburn raised their price target on shares of Alphabet from $390.00 to $430.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Jefferies Financial Group restated a “buy” rating on shares of Alphabet in a research note on Wednesday, May 20th. Citizens Jmp restated a “market outperform” rating and set a $515.00 price target on shares of Alphabet in a research note on Wednesday, May 20th. Finally, Wells Fargo & Company restated an “overweight” rating and set a $435.00 price target (up from $427.00) on shares of Alphabet in a research note on Wednesday, May 20th. Two investment analysts have rated the stock with a Strong Buy rating, forty-seven have issued a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $413.13.

Key Stories Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet secured a major cloud deal with SpaceX, adding a high-profile customer and boosting the investment case for its AI infrastructure business. SpaceX signs cloud deal with Google
• Positive Sentiment: New Street Research raised its price target on Alphabet to $455 and reiterated a buy rating, signaling continued Wall Street confidence. MarketScreener
• Neutral Sentiment: Reports said Google’s AI search and chatbot products faced criticism after an audit found many chatbot responses on elections were flawed, which may keep pressure on Alphabet’s AI credibility. Over 90% of AI chatbot answers about midterm elections are flawed, stunning analysis shows
• Negative Sentiment: Alphabet’s large equity raise and higher AI capex guidance are still weighing on sentiment because investors are questioning how quickly those investments will pay off. Alphabet is seeking fresh capital as stock’s 4-week losing streak tests investor appetite
• Negative Sentiment: Google also faces regulatory pressure in the UK over publisher-content rules in AI search, adding another policy risk for the business. Google search facing UK ‘conduct requirement’

Insiders Place Their Bets

In related news, Director John L. Hennessy sold 1,050 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $393.26, for a total value of $412,923.00. Following the completion of the sale, the director owned 2,531 shares of the company’s stock, valued at $995,341.06. This trade represents a 29.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider John Kent Walker sold 8,993 shares of the firm’s stock in a transaction that occurred on Friday, March 27th. The shares were sold at an average price of $275.89, for a total transaction of $2,481,078.77. Following the completion of the sale, the insider directly owned 51,808 shares of the company’s stock, valued at approximately $14,293,309.12. This represents a 14.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 193,016 shares of company stock valued at $17,282,549 over the last quarter. Company insiders own 11.61% of the company’s stock.

About Alphabet

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.