Kingfisher Capital LLC Cuts Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

by · The Cerbat Gem

Kingfisher Capital LLC trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 2.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 50,381 shares of the information services provider’s stock after selling 1,132 shares during the quarter. Alphabet accounts for approximately 1.6% of Kingfisher Capital LLC’s portfolio, making the stock its 13th largest holding. Kingfisher Capital LLC’s holdings in Alphabet were worth $6,031,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of GOOGL. Vanguard Group Inc. boosted its holdings in Alphabet by 1,919.4% during the 3rd quarter. Vanguard Group Inc. now owns 477,035,902 shares of the information services provider’s stock worth $45,628,484,000 after acquiring an additional 453,413,389 shares during the last quarter. State Street Corp boosted its holdings in shares of Alphabet by 1,900.6% in the 3rd quarter. State Street Corp now owns 217,154,306 shares of the information services provider’s stock worth $20,770,809,000 after buying an additional 206,300,042 shares during the last quarter. Moneta Group Investment Advisors LLC boosted its holdings in shares of Alphabet by 111,197.8% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 170,420,243 shares of the information services provider’s stock worth $15,036,178,000 after buying an additional 170,267,122 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Alphabet by 1,759.2% in the 3rd quarter. Price T Rowe Associates Inc. MD now owns 116,116,066 shares of the information services provider’s stock worth $11,106,502,000 after buying an additional 109,870,525 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Alphabet in the 4th quarter worth about $8,335,063,000. 35.08% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O’toole sold 420 shares of Alphabet stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $132.09, for a total value of $55,477.80. Following the completion of the transaction, the chief accounting officer now owns 25,988 shares of the company’s stock, valued at approximately $3,432,754.92. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Frances Arnold sold 250 shares of Alphabet stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $124.36, for a total value of $31,090.00. Following the completion of the transaction, the director now owns 14,226 shares of the company’s stock, valued at approximately $1,769,145.36. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 420 shares of Alphabet stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $132.09, for a total value of $55,477.80. Following the completion of the transaction, the chief accounting officer now directly owns 25,988 shares of the company’s stock, valued at approximately $3,432,754.92. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 130,127 shares of company stock valued at $17,085,731. 0.88% of the stock is currently owned by company insiders.

Alphabet Stock Up 0.4 %

Shares of Alphabet stock opened at $131.54 on Wednesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.01 and a current ratio of 2.04. Alphabet Inc. has a 52-week low of $84.86 and a 52-week high of $141.22. The stock has a market capitalization of $1.65 trillion, a price-to-earnings ratio of 25.23, a P/E/G ratio of 1.38 and a beta of 1.03. The company’s 50 day moving average price is $133.54 and its 200-day moving average price is $129.39.

Alphabet (NASDAQ:GOOGL – Get Free Report) last announced its quarterly earnings data on Tuesday, October 24th. The information services provider reported $1.55 EPS for the quarter, beating the consensus estimate of $1.45 by $0.10. The business had revenue of $64.05 billion during the quarter, compared to analyst estimates of $63.13 billion. Alphabet had a return on equity of 25.24% and a net margin of 22.46%. Equities research analysts forecast that Alphabet Inc. will post 5.75 EPS for the current year.

Wall Street Analyst Weigh In

GOOGL has been the topic of a number of research reports. Barclays lowered their price objective on Alphabet from $200.00 to $180.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 25th. StockNews.com cut Alphabet from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 1st. Wedbush restated an “outperform” rating and issued a $160.00 price objective on shares of Alphabet in a research note on Wednesday, October 25th. Bank of America upped their price target on Alphabet from $142.00 to $146.00 and gave the company a “buy” rating in a research report on Wednesday, October 4th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $155.00 price target on shares of Alphabet in a research report on Wednesday, October 25th. Five research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $147.12.

Get Our Latest Report on GOOGL

About Alphabet

(Free Report)

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, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

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