Kimelman & Baird LLC Has $4.15 Million Position in Alphabet Inc. $GOOG

Kimelman & Baird LLC cut its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 30.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,404 shares of the information services provider’s stock after selling 10,391 shares during the quarter. Kimelman & Baird LLC’s holdings in Alphabet were worth $4,152,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. REDW Wealth LLC boosted its position in shares of Alphabet by 2.3% during the 2nd quarter. REDW Wealth LLC now owns 2,410 shares of the information services provider’s stock worth $428,000 after purchasing an additional 54 shares in the last quarter. GDS Wealth Management raised its stake in Alphabet by 2.4% during the 2nd quarter. GDS Wealth Management now owns 2,325 shares of the information services provider’s stock worth $412,000 after buying an additional 54 shares during the period. ACT Advisors LLC. boosted its holdings in Alphabet by 3.5% in the second quarter. ACT Advisors LLC. now owns 1,625 shares of the information services provider’s stock worth $288,000 after acquiring an additional 55 shares in the last quarter. Moser Wealth Advisors LLC boosted its holdings in Alphabet by 2.2% in the second quarter. Moser Wealth Advisors LLC now owns 2,545 shares of the information services provider’s stock worth $451,000 after acquiring an additional 55 shares in the last quarter. Finally, LongView Wealth Management grew its stake in Alphabet by 1.1% in the second quarter. LongView Wealth Management now owns 5,126 shares of the information services provider’s stock valued at $909,000 after acquiring an additional 56 shares during the period. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $250.15, for a total value of $8,129,875.00. Following the transaction, the chief executive officer owned 2,369,619 shares in the company, valued at $592,760,192.85. The trade was a 1.35% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 2,778 shares of the company’s stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $250.05, for a total value of $694,638.90. Following the completion of the transaction, the chief accounting officer directly owned 14,516 shares of the company’s stock, valued at approximately $3,629,725.80. This represents a 16.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 227,952 shares of company stock valued at $58,896,009 in the last 90 days. 12.99% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on GOOG. Wolfe Research upped their target price on Alphabet from $290.00 to $350.00 and gave the stock an “outperform” rating in a research report on Thursday, October 30th. Scotiabank set a $336.00 price target on shares of Alphabet and gave the company a “sector outperform” rating in a research note on Thursday, October 30th. Phillip Securities upgraded shares of Alphabet from a “moderate buy” rating to a “strong-buy” rating in a report on Friday, November 7th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Alphabet in a research note on Wednesday, October 8th. Finally, Cowen reissued a “buy” rating on shares of Alphabet in a research report on Thursday, October 30th. Seven investment analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $324.81.

Alphabet Price Performance

Shares of NASDAQ:GOOG opened at $318.47 on Tuesday. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The stock has a market cap of $3.84 trillion, a PE ratio of 31.41, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05. The stock’s fifty day simple moving average is $264.32 and its two-hundred day simple moving average is $215.82. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $319.80.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Thursday, October 30th. The information services provider reported $2.87 earnings per share (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 during the quarter, compared to analyst estimates of $99.90 billion. During the same quarter in the prior year, the business posted $2.12 EPS. The business’s revenue was up 15.9% compared to the same quarter last year. As a group, analysts forecast that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Announces Dividend

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

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.