Alphabet Inc. $GOOGL Stake Lessened by Kane Investment Management Inc.

Kane Investment Management Inc. lessened its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 6.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,044 shares of the information services provider’s stock after selling 814 shares during the period. Alphabet comprises approximately 1.1% of Kane Investment Management Inc.’s portfolio, making the stock its 17th biggest position. Kane Investment Management Inc.’s holdings in Alphabet were worth $2,123,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of GOOGL. Vanguard Group Inc. grew its stake in Alphabet by 2.9% during the 1st quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider’s stock valued at $78,839,544,000 after acquiring an additional 14,307,345 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Alphabet by 3.1% during the second quarter. Geode Capital Management LLC now owns 141,615,284 shares of the information services provider’s stock worth $24,857,017,000 after purchasing an additional 4,224,497 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Alphabet by 11.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 43,865,520 shares of the information services provider’s stock worth $6,783,364,000 after purchasing an additional 4,473,901 shares during the period. Invesco Ltd. grew its position in Alphabet by 1.4% during the first quarter. Invesco Ltd. now owns 43,648,514 shares of the information services provider’s stock valued at $6,749,806,000 after purchasing an additional 593,345 shares in the last quarter. Finally, Deutsche Bank AG increased its stake in Alphabet by 1.9% in the 1st quarter. Deutsche Bank AG now owns 39,792,300 shares of the information services provider’s stock valued at $6,153,481,000 after buying an additional 727,335 shares during the period. 40.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on GOOGL. Barclays reissued an “overweight” rating and set a $315.00 target price (up previously from $250.00) on shares of Alphabet in a research note on Thursday, October 30th. DA Davidson reissued a “neutral” rating and set a $300.00 price objective on shares of Alphabet in a research report on Tuesday. Cantor Fitzgerald boosted their target price on Alphabet from $265.00 to $310.00 and gave the company a “neutral” rating in a research note on Thursday, October 30th. Phillip Securities raised Alphabet from a “moderate buy” rating to a “strong-buy” rating in a research note on Friday, November 7th. Finally, President Capital lifted their price target on Alphabet from $258.00 to $323.00 and gave the company a “buy” rating in a report on Thursday, November 6th. Four analysts have rated the stock with a Strong Buy rating, forty-one have issued a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $307.84.

Alphabet Stock Performance

Shares of NASDAQ GOOGL opened at $319.95 on Thursday. The business’s 50-day simple moving average is $266.58 and its 200-day simple moving average is $216.93. 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 Inc. has a 52 week low of $140.53 and a 52 week high of $328.83. The firm has a market cap of $3.86 trillion, a price-to-earnings ratio of 31.55, a P/E/G ratio of 1.86 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.58. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The firm had revenue of $102.35 billion during the quarter, compared to analyst estimates of $99.90 billion. As a group, equities research analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Monday, December 8th. Alphabet’s dividend payout ratio is currently 8.28%.

Insider Activity at Alphabet

In other news, CAO Amie Thuener O’toole sold 2,778 shares of the firm’s stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $250.05, for a total value of $694,638.90. Following the sale, the chief accounting officer directly owned 14,516 shares of the company’s stock, valued at approximately $3,629,725.80. This trade represents a 16.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $250.15, for a total value of $8,129,875.00. Following the completion of the transaction, the chief executive officer owned 2,369,619 shares in the company, valued at $592,760,192.85. The trade was a 1.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 225,072 shares of company stock worth $58,074,027. 11.64% of the stock is owned by insiders.

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.