Kelleher Financial Advisors Purchases 4,988 Shares of Alphabet Inc. $GOOGL

Kelleher Financial Advisors boosted its position in Alphabet Inc. (NASDAQ:GOOGLFree Report) by 39.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 17,552 shares of the information services provider’s stock after buying an additional 4,988 shares during the period. Alphabet comprises about 1.3% of Kelleher Financial Advisors’ portfolio, making the stock its 18th biggest holding. Kelleher Financial Advisors’ holdings in Alphabet were worth $5,494,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the company. PMV Capital Advisers LLC acquired a new position in Alphabet in the 4th quarter valued at $38,000. Pilgrim Partners Asia Pte Ltd acquired a new position in Alphabet in the 3rd quarter valued at $53,000. iSAM Funds UK Ltd acquired a new position in Alphabet in the 3rd quarter valued at $53,000. Corsicana & Co. acquired a new position in Alphabet in the 3rd quarter valued at $54,000. Finally, Sellwood Investment Partners LLC acquired a new position in Alphabet in the 3rd quarter valued at $63,000. 40.03% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Alphabet news, Director John L. Hennessy sold 1,050 shares of the company’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $303.41, for a total value of $318,580.50. Following the completion of the transaction, the director owned 4,631 shares of the company’s stock, valued at $1,405,091.71. This represents a 18.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder 2017 Gp L.L.C. Gv sold 1,845,308 shares of the company’s stock in a transaction dated Friday, January 30th. The stock was sold at an average price of $19.00, for a total value of $35,060,852.00. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 2,068,744 shares of company stock worth $104,505,914. Company insiders own 11.55% of the company’s stock.

Alphabet News Roundup

Here are the key news stories impacting Alphabet this week:

Alphabet Price Performance

Alphabet stock opened at $332.82 on Wednesday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.01 and a current ratio of 2.01. Alphabet Inc. has a 52 week low of $146.10 and a 52 week high of $349.00. The stock has a market capitalization of $4.03 trillion, a P/E ratio of 30.79, a price-to-earnings-growth ratio of 1.98 and a beta of 1.12. The stock has a fifty day moving average of $306.27 and a 200-day moving average of $300.18.

Alphabet (NASDAQ:GOOGLGet Free Report) last issued its earnings results on Wednesday, February 4th. The information services provider reported $2.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.57 by $0.25. Alphabet had a return on equity of 35.01% and a net margin of 32.81%.The business had revenue of $113.83 billion during the quarter, compared to analysts’ expectations of $111.24 billion. On average, sell-side analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 9th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Monday, March 9th. Alphabet’s dividend payout ratio is presently 7.77%.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of several analyst reports. Roth Mkm lifted their price objective on Alphabet from $365.00 to $395.00 and gave the company a “buy” rating in a report on Thursday, February 5th. Citigroup reaffirmed a “buy” rating and issued a $405.00 price objective (up from $390.00) on shares of Alphabet in a report on Tuesday. Robert W. Baird lifted their price objective on Alphabet from $375.00 to $380.00 and gave the company an “outperform” rating in a report on Friday, March 6th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $370.00 price objective on shares of Alphabet in a report on Wednesday, April 8th. Finally, Barclays reaffirmed an “overweight” rating and issued a $360.00 price objective (up from $315.00) on shares of Alphabet in a report on Thursday, February 5th. Three analysts have rated the stock with a Strong Buy rating, forty-four have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and a consensus price target of $367.06.

Check Out Our Latest Stock Report on GOOGL

About Alphabet

(Free Report)

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.

See Also

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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