Alphabet Inc. (NASDAQ:GOOGL) Increase in number of shares held by KG&L Capital Management LLC


KG&L Capital Management LLC increased its stake in shares of Alphabet Inc. (NASDAQ: GOOGLGet a rating) by 21.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor held 2,530 shares of the information services provider after purchasing an additional 450 shares during the period. Alphabet represents 2.9% of KG&L Capital Management LLC’s portfolio, making the stock its sixth largest holding. KG&L Capital Management LLC’s holdings in Alphabet were worth $7,037,000 when it last filed with the Securities and Exchange Commission.

A number of other institutional investors have also recently increased or reduced their stake in the stock. State Street Corp increased its holdings of Alphabet shares 1.4% in the fourth quarter. State Street Corp now owns 11,252,792 shares of the information services provider valued at $32,599,789,000 after buying an additional 157,280 shares last quarter. Geode Capital Management LLC increased its stake in Alphabet shares by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 5,322,633 shares of the information services provider valued at $15,381,257,000 after purchasing an additional 116,084 shares last quarter. Norges Bank bought a new stake in Alphabet stock in the fourth quarter worth about $14,477,662,000. Massachusetts Financial Services Co. MA increased its holdings of Alphabet shares 0.7% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,825,959 shares of the information services provider valued at $8,186,916,000 after buying 20,120 additional shares last quarter. Finally, Invesco Ltd. increased its stake in Alphabet shares by 14.1% in the fourth quarter. Invesco Ltd. now owns 2,292,059 shares of the information services provider valued at $6,640,190,000 after purchasing an additional 283,907 shares last quarter. Hedge funds and other institutional investors own 41.70% of the company’s shares.

Alphabet Price Performance

Shares of GOOGL Stock opened at $116.32 on Friday. The company has a market capitalization of $1.53 trillion, a PE ratio of 21.04, a growth price-earnings ratio of 1.12 and a beta of 1.10. The company has a fifty-day simple moving average of $154.46 and a 200-day simple moving average of $138.74. The company has a current ratio of 2.87, a quick ratio of 2.85 and a debt ratio of 0.06. Alphabet Inc. has a 12-month low of $101.88 and a 12-month high of $151.55.

Alphabet (NASDAQ: GOOGLGet a rating) last announced its results on Tuesday, July 26. The information services provider reported earnings per share of $1.21 for the quarter, missing the consensus estimate of $1.32 per ($0.11). Alphabet had a net margin of 27.57% and a return on equity of 30.18%. In the same quarter of the previous year, the company had earned earnings per share of $27.26. Equity research analysts expect Alphabet Inc. to post earnings per share of 5.37 for the current fiscal year.

Insider activity

Separately, major shareholder 2021 Gp LLC Gv acquired 13,528 Alphabet shares in a transaction on Tuesday, May 24. The shares were purchased at an average cost of $33.72 per share, for a total transaction of $456,164.16. Following the purchase, the insider now directly owns 593,402 shares of the company, valued at approximately $20,009,515.44. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, accessible via the SEC website. Separately, major shareholder 2021 Gp LLC Gv acquired 13,528 Alphabet shares in a transaction on Tuesday, May 24. The shares were purchased at an average cost of $33.72 per share, for a total transaction of $456,164.16. Following the purchase, the insider now directly owns 593,402 shares of the company, valued at approximately $20,009,515.44. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, accessible via the SEC website. Also, director Anne Mather sold 20 shares in a trade on Monday, June 27. The shares were sold at an average price of $2,383.32, for a total transaction of $47,666.40. Following the transaction, the administrator now owns 565 shares of the company, valued at $1,346,575.80. Disclosure of this sale can be found here. In the past three months, insiders have sold 7,269 shares of the company worth $12,792,226. 11.44% of the shares are currently held by insiders of the company.

A Wall Street analyst gives his opinion

Several brokerages have recently published reports on GOOGL. Piper Sandler cut her price target on Alphabet shares from $139.00 to $135.00 and set an “overweight” rating on the stock in a research note on Wednesday. Truist Financial cut its price target on Alphabet shares from $150.00 to $145.00 and placed a “buy” rating on the stock in a research note on Wednesday. Susquehanna cut its price target on Alphabet shares from $187.50 to $150.00 and gave the stock a “positive” rating in a research note on Wednesday. MKM Partners cut its price target on Alphabet shares from $165.00 to $140.00 and set a “buy” rating on the stock in a research note on Monday July 18. Finally, Monness Crespi & Hardt cut their price target on Alphabet shares to $145.00 in a Tuesday, July 5 research note. Five investment analysts gave the stock a hold rating, thirty-three gave the company a buy rating and one gave the company a strong buy rating. Based on data from MarketBeat.com, the stock currently has a consensus rating of “moderate buy” and a consensus target price of $147.29.

Alphabetical Profile

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Alphabet Inc provides various products and platforms in the United States, Europe, the Middle East, Africa, Asia-Pacific, Canada and Latin America. It operates through Google Services, Google Cloud and Other Bets segments. The Google Services segment offers products and services, including Ads, Android, Chrome, Hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search and YouTube.

See also

Want to see which other hedge funds hold GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ: GOOGLGet a rating).

Institutional ownership by quarter for Alphabet (NASDAQ:GOOGL)



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