Kennedy Capital Management LLC Sells 14,007 Shares of Alphabet Inc. $GOOG

Kennedy Capital Management LLC cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 23.5% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 45,561 shares of the information services provider’s stock after selling 14,007 shares during the period. Kennedy Capital Management LLC’s holdings in Alphabet were worth $8,082,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in Alphabet by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 416,753,033 shares of the information services provider’s stock valued at $73,927,821,000 after purchasing an additional 5,182,111 shares during the period. Kingstone Capital Partners Texas LLC boosted its stake in shares of Alphabet by 580,897.4% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider’s stock valued at $23,963,208,000 after purchasing an additional 135,064,454 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Alphabet by 0.4% during the second quarter. Geode Capital Management LLC now owns 107,760,033 shares of the information services provider’s stock valued at $19,022,926,000 after buying an additional 441,177 shares during the period. JPMorgan Chase & Co. raised its stake in Alphabet by 9.9% in the first quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider’s stock worth $15,971,861,000 after buying an additional 9,243,959 shares in the last quarter. Finally, Sanders Capital LLC lifted its holdings in Alphabet by 6.4% in the second quarter. Sanders Capital LLC now owns 35,357,943 shares of the information services provider’s stock worth $6,272,146,000 after buying an additional 2,117,990 shares during the period. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Activity

In other news, Director Frances Arnold sold 102 shares of the business’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $317.66, for a total value of $32,401.32. Following the completion of the transaction, the director owned 18,104 shares in the company, valued at $5,750,916.64. The trade was a 0.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John L. Hennessy sold 600 shares of the company’s stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $280.06, for a total value of $168,036.00. Following the transaction, the director directly owned 4,516 shares in the company, valued at approximately $1,264,750.96. The trade was a 11.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 196,406 shares of company stock worth $51,743,408 over the last three months. 12.99% of the stock is currently owned by insiders.

Alphabet Price Performance

Shares of NASDAQ:GOOG opened at $318.39 on Friday. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $328.67. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.75 and a quick ratio of 1.75. The business has a fifty day moving average price of $275.23 and a 200-day moving average price of $223.79. The company has a market capitalization of $3.84 trillion, a PE ratio of 31.40, a PEG ratio of 1.86 and a beta of 1.07.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Thursday, October 30th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 35.00%. The company had revenue of $102.35 billion for the quarter, compared to analysts’ expectations of $99.90 billion. During the same quarter in the previous year, the business posted $2.12 EPS. Alphabet’s revenue was up 15.9% compared to the same quarter last year. As a group, equities analysts expect that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

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

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Mizuho set a $325.00 price objective on Alphabet in a research report on Thursday, October 30th. Raymond James Financial set a $275.00 target price on Alphabet and gave the company an “outperform” rating in a research note on Friday, October 24th. Oppenheimer upped their price target on Alphabet from $300.00 to $345.00 and gave the stock an “outperform” rating in a research note on Thursday, October 30th. DA Davidson set a $300.00 price objective on Alphabet in a report on Tuesday, November 25th. Finally, Cantor Fitzgerald reissued a “neutral” rating on shares of Alphabet in a research report on Wednesday. Seven investment analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $307.22.

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.