KCM Investment Advisors LLC Has $48.56 Million Stock Position in Alphabet Inc. $GOOGL

KCM Investment Advisors LLC lowered its stake in Alphabet Inc. (NASDAQ:GOOGL) by 1.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 275,545 shares of the information services provider’s stock after selling 2,664 shares during the quarter. Alphabet makes up 1.6% of KCM Investment Advisors LLC’s investment portfolio, making the stock its 17th largest holding. KCM Investment Advisors LLC’s holdings in Alphabet were worth $48,559,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the company. Brighton Jones LLC grew its position in Alphabet by 3.9% during the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock worth $20,886,000 after purchasing an additional 4,110 shares in the last quarter. Revolve Wealth Partners LLC boosted its position in shares of Alphabet by 3.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock worth $2,826,000 after buying an additional 506 shares during the period. Smart Money Group LLC grew its holdings in shares of Alphabet by 9.4% during the first quarter. Smart Money Group LLC now owns 6,181 shares of the information services provider’s stock valued at $956,000 after buying an additional 532 shares in the last quarter. ESG Planning DBA Harper Investing raised its position in Alphabet by 29.2% during the first quarter. ESG Planning DBA Harper Investing now owns 23,365 shares of the information services provider’s stock valued at $3,613,000 after buying an additional 5,277 shares during the period. Finally, Sage Private Wealth Group LLC raised its position in Alphabet by 2.7% during the first quarter. Sage Private Wealth Group LLC now owns 3,808 shares of the information services provider’s stock valued at $589,000 after buying an additional 100 shares during the period. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Up 3.0%

Alphabet stock opened at $292.81 on Thursday. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $303.81. The firm’s fifty day simple moving average is $260.23 and its 200-day simple moving average is $211.57. The company has a market capitalization of $3.53 trillion, a P/E ratio of 28.88, 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 EPS for the quarter, topping the consensus estimate of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The firm had revenue of $102.35 billion for the quarter, compared to the consensus estimate of $99.90 billion. Sell-side analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

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

Insider Buying and Selling

In other Alphabet news, Director Frances Arnold sold 112 shares of the stock in a transaction that occurred on Thursday, October 30th. The stock was sold at an average price of $291.80, for a total transaction of $32,681.60. Following the transaction, the director owned 18,004 shares in the company, valued at $5,253,567.20. This trade represents a 0.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director John L. Hennessy sold 600 shares of Alphabet stock in a transaction that occurred on Thursday, November 13th. The shares were sold at an average price of $280.06, for a total transaction of $168,036.00. Following the completion of the transaction, the director directly owned 4,516 shares in the company, valued at approximately $1,264,750.96. This represents a 11.73% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 192,674 shares of company stock worth $48,454,423 over the last ninety days. Company insiders own 11.64% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on GOOGL. The Goldman Sachs Group lifted their target price on Alphabet from $288.00 to $330.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Hsbc Global Res upgraded shares of Alphabet to a “strong-buy” rating in a report on Tuesday, October 7th. JPMorgan Chase & Co. upped their price objective on shares of Alphabet from $300.00 to $340.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Wall Street Zen upgraded shares of Alphabet from a “hold” rating to a “buy” rating in a research report on Saturday, November 1st. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Alphabet in a research note on Wednesday, October 8th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-eight have given a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $305.33.

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.