Kendall Capital Management Decreases Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Kendall Capital Management reduced its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,587 shares of the information services provider’s stock after selling 383 shares during the period. Kendall Capital Management’s holdings in Alphabet were worth $2,038,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. DC Investments Management LLC acquired a new stake in Alphabet during the 1st quarter worth $114,000. Bridgefront Capital LLC purchased a new stake in Alphabet during the first quarter worth about $225,000. Worth Asset Management LLC purchased a new stake in Alphabet during the first quarter worth about $206,000. Eudaimonia Advisors LLC boosted its holdings in Alphabet by 15.1% during the first quarter. Eudaimonia Advisors LLC now owns 99 shares of the information services provider’s stock worth $275,000 after buying an additional 13 shares in the last quarter. Finally, Aspire Capital Advisors LLC purchased a new stake in Alphabet during the first quarter worth about $281,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $132.70, for a total value of $2,985,750.00. Following the transaction, the chief executive officer now owns 2,332,691 shares of the company’s stock, valued at approximately $309,548,095.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $132.70, for a total transaction of $2,985,750.00. Following the sale, the chief executive officer now owns 2,332,691 shares of the company’s stock, valued at approximately $309,548,095.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John L. Hennessy sold 800 shares of Alphabet stock in a transaction on Friday, April 12th. The stock was sold at an average price of $159.56, for a total transaction of $127,648.00. Following the sale, the director now directly owns 7,991 shares in the company, valued at approximately $1,275,043.96. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 251,339 shares of company stock valued at $36,377,482. Company insiders own 0.88% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on GOOGL. KeyCorp boosted their price objective on shares of Alphabet from $153.00 to $165.00 and gave the stock an “overweight” rating in a report on Monday, January 29th. Redburn Atlantic increased their price target on shares of Alphabet from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Wednesday, January 31st. Needham & Company LLC reiterated a “buy” rating and issued a $160.00 price target on shares of Alphabet in a research report on Wednesday, January 31st. Roth Mkm lowered their price target on shares of Alphabet from $166.00 to $164.00 and set a “buy” rating on the stock in a research report on Wednesday, January 31st. Finally, Rosenblatt Securities lowered their price target on shares of Alphabet from $174.00 to $172.00 and set a “buy” rating on the stock in a research report on Wednesday, January 31st. Five equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and a consensus target price of $157.00.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $155.47 on Thursday. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.05. The company has a market cap of $1.93 trillion, a P/E ratio of 26.81, a P/E/G ratio of 1.43 and a beta of 1.05. Alphabet Inc. has a fifty-two week low of $102.63 and a fifty-two week high of $160.22. The firm’s 50 day moving average is $145.95 and its two-hundred day moving average is $140.29.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The business had revenue of $86.31 billion for the quarter, compared to the consensus estimate of $70.77 billion. During the same quarter last year, the firm posted $1.05 EPS. Analysts expect that Alphabet Inc. will post 6.78 EPS for the current year.

About Alphabet

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.