Kathmere Capital Management LLC Buys 4,702 Shares of Alphabet Inc. $GOOGL

Kathmere Capital Management LLC raised its stake in Alphabet Inc. (NASDAQ:GOOGLFree Report) by 32.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 19,067 shares of the information services provider’s stock after buying an additional 4,702 shares during the quarter. Kathmere Capital Management LLC’s holdings in Alphabet were worth $5,968,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Brighton Jones LLC boosted its stake in Alphabet by 3.9% during the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock worth $20,886,000 after acquiring an additional 4,110 shares during the last quarter. Revolve Wealth Partners LLC grew its holdings in Alphabet by 3.5% during the fourth quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock valued at $2,826,000 after purchasing an additional 506 shares during the period. Matrix Asset Advisors Inc. NY increased its stake in Alphabet by 17.6% in the second quarter. Matrix Asset Advisors Inc. NY now owns 3,888 shares of the information services provider’s stock valued at $685,000 after purchasing an additional 581 shares in the last quarter. Sequoia Financial Advisors LLC increased its stake in Alphabet by 11.2% in the second quarter. Sequoia Financial Advisors LLC now owns 485,486 shares of the information services provider’s stock valued at $85,557,000 after purchasing an additional 48,805 shares in the last quarter. Finally, United Bank raised its holdings in Alphabet by 6.9% in the second quarter. United Bank now owns 48,204 shares of the information services provider’s stock worth $8,495,000 after purchasing an additional 3,120 shares during the period. Institutional investors own 40.03% of the company’s stock.

Alphabet Trading Up 5.1%

Shares of NASDAQ:GOOGL opened at $287.56 on Wednesday. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $349.00. The company has a quick ratio of 2.01, a current ratio of 2.01 and a debt-to-equity ratio of 0.11. The company’s fifty day simple moving average is $311.25 and its 200 day simple moving average is $295.96. The firm has a market cap of $3.48 trillion, a price-to-earnings ratio of 26.60, a PEG ratio of 1.60 and a beta of 1.10.

Alphabet (NASDAQ:GOOGLGet Free Report) last posted its quarterly earnings data on Wednesday, February 4th. The information services provider reported $2.82 EPS for the quarter, beating the consensus estimate of $2.57 by $0.25. The business had revenue of $113.83 billion for the quarter, compared to analysts’ expectations of $111.24 billion. Alphabet had a net margin of 32.81% and a return on equity of 35.01%. As a group, research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Monday, March 9th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Monday, March 9th. Alphabet’s payout ratio is 7.77%.

Insider Buying and Selling

In other news, Director Frances Arnold sold 112 shares of the company’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $302.99, for a total transaction of $33,934.88. Following the completion of the transaction, the director directly owned 18,418 shares of the company’s stock, valued at $5,580,469.82. This represents a 0.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 955 shares of the stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $298.00, for a total value of $284,590.00. Following the transaction, the chief accounting officer owned 9,918 shares of the company’s stock, valued at approximately $2,955,564. The trade was a 8.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 2,092,234 shares of company stock valued at $112,487,971. Corporate insiders own 11.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. KeyCorp set a $370.00 price target on shares of Alphabet and gave the stock an “overweight” rating in a research report on Thursday, February 5th. Canaccord Genuity Group set a $415.00 price objective on shares of Alphabet in a research report on Thursday, February 5th. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Alphabet in a research note on Monday, February 9th. Robert W. Baird lifted their target price on Alphabet from $375.00 to $380.00 and gave the stock an “outperform” rating in a report on Friday, March 6th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $370.00 target price on shares of Alphabet in a research note on Thursday, February 5th. Three equities research analysts have rated the stock with a Strong Buy rating, forty-four have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $368.06.

View Our Latest Research Report on GOOGL

Alphabet News Summary

Here are the key news stories impacting Alphabet this week:

About Alphabet

(Free Report)

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.

Read More

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.