Kinney Asset Management LLC Sells 24,000 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Kinney Asset Management LLC lessened its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 13.3% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 156,799 shares of the information services provider's stock after selling 24,000 shares during the quarter. Alphabet accounts for about 24.3% of Kinney Asset Management LLC's investment portfolio, making the stock its 2nd biggest holding. Kinney Asset Management LLC's holdings in Alphabet were worth $26,005,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Alphabet by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 497,874,324 shares of the information services provider's stock valued at $75,144,172,000 after acquiring an additional 4,064,073 shares in the last quarter. Capital Research Global Investors raised its holdings in shares of Alphabet by 14.4% in the first quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider's stock valued at $8,724,251,000 after purchasing an additional 7,275,757 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Alphabet by 0.5% in the second quarter. Bank of New York Mellon Corp now owns 49,472,478 shares of the information services provider's stock worth $9,011,412,000 after purchasing an additional 238,403 shares in the last quarter. Capital World Investors boosted its holdings in Alphabet by 1.7% during the first quarter. Capital World Investors now owns 35,412,299 shares of the information services provider's stock worth $5,344,778,000 after purchasing an additional 597,756 shares during the last quarter. Finally, American Century Companies Inc. grew its position in Alphabet by 1.8% in the second quarter. American Century Companies Inc. now owns 23,465,190 shares of the information services provider's stock valued at $4,274,184,000 after purchasing an additional 418,204 shares in the last quarter. Institutional investors own 40.03% of the company's stock.

Analyst Ratings Changes

Several brokerages have commented on GOOGL. Rosenblatt Securities reissued a "neutral" rating and set a $181.00 price target on shares of Alphabet in a research report on Wednesday, July 24th. Seaport Res Ptn raised Alphabet from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, October 29th. Cantor Fitzgerald restated a "neutral" rating and issued a $190.00 price target on shares of Alphabet in a research note on Wednesday, October 30th. Loop Capital upped their price objective on Alphabet from $170.00 to $185.00 and gave the stock a "hold" rating in a research note on Wednesday, November 6th. Finally, Scotiabank raised shares of Alphabet to a "strong-buy" rating in a research note on Friday, October 11th. Seven equities research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $205.90.

Insider Activity

In other Alphabet news, CAO Amie Thuener O'toole sold 682 shares of the company's stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total transaction of $109,420.08. Following the sale, the chief accounting officer now owns 32,017 shares of the company's stock, valued at approximately $5,136,807.48. This represents a 2.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Frances Arnold sold 441 shares of the stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $171.06, for a total value of $75,437.46. Following the sale, the director now owns 16,490 shares of the company's stock, valued at approximately $2,820,779.40. The trade was a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 206,795 shares of company stock valued at $34,471,141. Company insiders own 11.55% of the company's stock.

Alphabet Trading Down 1.8 %

NASDAQ:GOOGL traded down $3.09 during mid-day trading on Friday, hitting $172.49. 32,504,649 shares of the company's stock were exchanged, compared to its average volume of 27,145,184. Alphabet Inc. has a fifty-two week low of $127.90 and a fifty-two week high of $191.75. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $2.11 trillion, a P/E ratio of 22.88, a PEG ratio of 1.27 and a beta of 1.03. The company has a 50 day simple moving average of $165.61 and a 200-day simple moving average of $170.13.

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

Alphabet Dividend Announcement

The business 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. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.46%. Alphabet's dividend payout ratio (DPR) is presently 10.61%.

Alphabet Company 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.