Kelman Lazarov Inc. Boosts Stock Holdings in Alphabet Inc. $GOOG

Kelman Lazarov Inc. boosted its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 3.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,807 shares of the information services provider’s stock after buying an additional 141 shares during the period. Kelman Lazarov Inc.’s holdings in Alphabet were worth $675,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Brighton Jones LLC boosted its holdings in shares of Alphabet by 5.6% during the 4th quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider’s stock worth $22,901,000 after purchasing an additional 6,410 shares during the last quarter. Revisor Wealth Management LLC boosted its holdings in shares of Alphabet by 107.9% during the 1st quarter. Revisor Wealth Management LLC now owns 3,659 shares of the information services provider’s stock worth $572,000 after purchasing an additional 1,899 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Alphabet by 19.5% during the 1st quarter. GAMMA Investing LLC now owns 91,681 shares of the information services provider’s stock worth $14,323,000 after purchasing an additional 14,931 shares during the last quarter. Spinnaker Investment Group LLC boosted its holdings in shares of Alphabet by 14.6% during the 1st quarter. Spinnaker Investment Group LLC now owns 2,588 shares of the information services provider’s stock worth $404,000 after purchasing an additional 329 shares during the last quarter. Finally, Brown Lisle Cummings Inc. boosted its holdings in shares of Alphabet by 14.7% during the 1st quarter. Brown Lisle Cummings Inc. now owns 31,634 shares of the information services provider’s stock worth $4,942,000 after purchasing an additional 4,062 shares during the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Trading Down 2.2%

GOOG opened at $251.34 on Wednesday. Alphabet Inc. has a one year low of $142.66 and a one year high of $257.88. The stock has a market capitalization of $3.04 trillion, a PE ratio of 26.77, a P/E/G ratio of 1.74 and a beta of 1.00. The business’s 50 day moving average price is $234.23 and its 200 day moving average price is $194.41. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.19. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The firm had revenue of $96.43 billion for the quarter, compared to analysts’ expectations of $93.67 billion. During the same period in the prior year, the firm posted $1.89 earnings per share. The firm’s quarterly revenue was up 13.8% on a year-over-year basis. As a group, equities research analysts expect that Alphabet Inc. will post 8.89 EPS for the current year.

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $249.50, for a total value of $8,108,750.00. Following the transaction, the chief executive officer directly owned 2,397,392 shares in the company, valued at approximately $598,149,304. This represents a 1.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 2,778 shares of the company’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $245.00, for a total value of $680,610.00. Following the transaction, the chief accounting officer owned 17,293 shares in the company, valued at $4,236,785. This trade represents a 13.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 246,150 shares of company stock worth $55,805,379. Insiders own 12.99% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Piper Sandler restated a “neutral” rating on shares of Alphabet in a report on Wednesday, July 9th. Cowen restated a “buy” rating on shares of Alphabet in a report on Wednesday, October 8th. Wells Fargo & Company restated an “equal weight” rating on shares of Alphabet in a report on Wednesday, July 9th. Jefferies Financial Group boosted their target price on Alphabet from $230.00 to $285.00 and gave the stock a “buy” rating in a report on Thursday, October 2nd. Finally, Barclays restated a “buy” rating on shares of Alphabet in a report on Wednesday, July 9th. Six investment analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $246.26.

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.