Alphabet Inc. (NASDAQ:GOOGL) is KG&L Capital Management LLC's 3rd Largest Position

KG&L Capital Management LLC increased its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 14.2% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 72,237 shares of the information services provider's stock after purchasing an additional 8,984 shares during the period. Alphabet comprises about 3.9% of KG&L Capital Management LLC's investment portfolio, making the stock its 3rd biggest holding. KG&L Capital Management LLC's holdings in Alphabet were worth $11,980,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in GOOGL. Christopher J. Hasenberg Inc increased its stake in shares of Alphabet by 75.0% in the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider's stock worth $26,000 after acquiring an additional 60 shares during the last quarter. Kings Path Partners LLC bought a new stake in shares of Alphabet during the 2nd quarter worth about $36,000. Denver PWM LLC acquired a new position in Alphabet during the 2nd quarter worth $41,000. Quarry LP bought a new stake in Alphabet in the second quarter valued at $53,000. Finally, CarsonAllaria Wealth Management Ltd. raised its holdings in shares of Alphabet by 59.2% in the first quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider's stock valued at $44,000 after buying an additional 109 shares during the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently commented on GOOGL shares. Wells Fargo & Company increased their price target on shares of Alphabet from $182.00 to $187.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 30th. Scotiabank upgraded Alphabet to a "strong-buy" rating in a research report on Friday, October 11th. Sanford C. Bernstein boosted their target price on Alphabet from $180.00 to $185.00 and gave the stock a "market perform" rating in a research report on Wednesday, October 30th. Pivotal Research raised their price target on Alphabet from $215.00 to $225.00 and gave the company a "buy" rating in a report on Wednesday, October 30th. Finally, The Goldman Sachs Group dropped their price objective on Alphabet from $217.00 to $208.00 and set a "buy" rating for the company in a report on Monday, October 14th. Seven investment analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Alphabet has a consensus rating of "Moderate Buy" and an average price target of $205.90.

Alphabet Price Performance

Shares of GOOGL traded down $3.09 during trading hours on Friday, reaching $172.49. The stock had a trading volume of 32,504,649 shares, compared to its average volume of 27,756,214. The stock has a market capitalization of $2.11 trillion, a PE ratio of 22.88, a PEG ratio of 1.23 and a beta of 1.03. Alphabet Inc. has a 12 month low of $127.90 and a 12 month high of $191.75. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The company's 50-day moving average is $165.61 and its two-hundred day moving average is $170.18.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating analysts' consensus estimates of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The firm had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. During the same period last year, the firm posted $1.55 earnings per share. Research analysts expect that Alphabet Inc. will post 7.99 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.46%. The ex-dividend date is Monday, December 9th. Alphabet's dividend payout ratio (DPR) is currently 10.61%.

Insider Activity

In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $177.41, for a total transaction of $1,862,805.00. Following the completion of the sale, the director now owns 319,966 shares of the company's stock, valued at approximately $56,765,168.06. This represents a 3.18 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Amie Thuener O'toole sold 682 shares of the business's stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total value of $109,420.08. Following the completion of the transaction, the chief accounting officer now directly owns 32,017 shares in the company, valued at $5,136,807.48. This represents a 2.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 206,795 shares of company stock valued at $34,471,141. Insiders own 11.55% of the company's stock.

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.