Kimelman & Baird LLC Has $50.12 Million Stock Holdings in Alphabet Inc. $GOOGL

Kimelman & Baird LLC reduced its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 160,123 shares of the information services provider’s stock after selling 6,074 shares during the quarter. Alphabet comprises 3.9% of Kimelman & Baird LLC’s portfolio, making the stock its 7th largest holding. Kimelman & Baird LLC’s holdings in Alphabet were worth $50,118,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GOOGL. Symmetry Partners LLC increased its position in Alphabet by 0.4% during the fourth quarter. Symmetry Partners LLC now owns 7,912 shares of the information services provider’s stock worth $2,476,000 after buying an additional 30 shares during the last quarter. Members Trust Co increased its position in Alphabet by 0.5% during the fourth quarter. Members Trust Co now owns 6,434 shares of the information services provider’s stock worth $2,014,000 after buying an additional 31 shares during the last quarter. Altfest L J & Co. Inc. increased its position in Alphabet by 0.4% during the fourth quarter. Altfest L J & Co. Inc. now owns 7,952 shares of the information services provider’s stock worth $2,489,000 after buying an additional 31 shares during the last quarter. Insight 2811 Inc. increased its position in Alphabet by 1.0% during the fourth quarter. Insight 2811 Inc. now owns 3,124 shares of the information services provider’s stock worth $978,000 after buying an additional 32 shares during the last quarter. Finally, LJI Wealth Management LLC increased its position in Alphabet by 0.4% during the fourth quarter. LJI Wealth Management LLC now owns 7,265 shares of the information services provider’s stock worth $2,274,000 after buying an additional 32 shares during the last quarter. 40.03% of the stock is owned by institutional investors.

Alphabet Stock Down 1.0%

GOOGL stock opened at $368.53 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.92 and a quick ratio of 1.92. Alphabet Inc. has a 52-week low of $162.00 and a 52-week high of $408.61. The company has a 50-day moving average of $352.70 and a two-hundred day moving average of $327.81. The stock has a market capitalization of $4.47 trillion, a price-to-earnings ratio of 28.11, a price-to-earnings-growth ratio of 1.59 and a beta of 1.23.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Wednesday, April 29th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.64 by $2.47. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. The company had revenue of $109.90 billion during the quarter, compared to analysts’ expectations of $106.98 billion. As a group, equities research analysts anticipate that Alphabet Inc. will post 14.29 EPS for the current year.

Alphabet Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 8th will be paid a $0.22 dividend. The ex-dividend date is Monday, June 8th. This is a boost from Alphabet’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a dividend yield of 0.2%. Alphabet’s dividend payout ratio is 6.41%.

Key Stories Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet secured a major cloud deal with SpaceX, adding a high-profile customer and boosting the investment case for its AI infrastructure business. SpaceX signs cloud deal with Google
• Positive Sentiment: New Street Research raised its price target on Alphabet to $455 and reiterated a buy rating, signaling continued Wall Street confidence. MarketScreener
• Neutral Sentiment: Reports said Google’s AI search and chatbot products faced criticism after an audit found many chatbot responses on elections were flawed, which may keep pressure on Alphabet’s AI credibility. Over 90% of AI chatbot answers about midterm elections are flawed, stunning analysis shows
• Negative Sentiment: Alphabet’s large equity raise and higher AI capex guidance are still weighing on sentiment because investors are questioning how quickly those investments will pay off. Alphabet is seeking fresh capital as stock’s 4-week losing streak tests investor appetite
• Negative Sentiment: Google also faces regulatory pressure in the UK over publisher-content rules in AI search, adding another policy risk for the business. Google search facing UK ‘conduct requirement’

Insiders Place Their Bets

In related news, insider John Kent Walker sold 8,993 shares of the stock in a transaction dated Friday, March 27th. The shares were sold at an average price of $275.89, for a total value of $2,481,078.77. Following the completion of the sale, the insider owned 51,808 shares in the company, valued at approximately $14,293,309.12. This trade represents a 14.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 617 shares of the stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $289.63, for a total transaction of $178,701.71. Following the completion of the sale, the chief accounting officer owned 10,093 shares of the company’s stock, valued at approximately $2,923,235.59. The trade was a 5.76% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 193,016 shares of company stock valued at $17,282,549 in the last quarter. 11.61% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts have commented on GOOGL shares. Canaccord Genuity Group increased their target price on shares of Alphabet from $415.00 to $450.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Wall Street Zen raised shares of Alphabet from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Rothschild & Co Redburn upped their price target on shares of Alphabet from $390.00 to $430.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Argus upped their price target on shares of Alphabet from $365.00 to $385.00 and gave the company a “buy” rating in a report on Friday, February 6th. Finally, Tigress Financial set a $415.00 price target on shares of Alphabet and gave the company a “strong-buy” rating in a report on Thursday, February 19th. Two equities research analysts have rated the stock with a Strong Buy rating, forty-seven have assigned a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $413.13.

Alphabet Company Profile

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.