Kennon Green & Company LLC Makes New Investment in Alphabet Inc. (NASDAQ:GOOG)

Posted by on Apr 6th, 2023

Kennon Green & Company LLC acquired a new position in Alphabet Inc. (NASDAQ:GOOG – Get Rating) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 18,560 shares of the information services provider’s stock, valued at approximately $1,647,000. Alphabet comprises approximately 1.6% of Kennon Green & Company LLC’s portfolio, making the stock its 23rd biggest holding.

Other large investors have also added to or reduced their stakes in the company. Walled Lake Planning & Wealth Management LLC increased its position in shares of Alphabet by 1,900.0% during the 3rd quarter. Walled Lake Planning & Wealth Management LLC now owns 34,120 shares of the information services provider’s stock valued at $3,281,000 after purchasing an additional 32,414 shares during the last quarter. Grand Jean Capital Management Inc. increased its position in shares of Alphabet by 1,926.2% during the 3rd quarter. Grand Jean Capital Management Inc. now owns 137,135 shares of the information services provider’s stock valued at $13,186,000 after purchasing an additional 130,367 shares during the last quarter. Connecticut Wealth Management LLC increased its position in shares of Alphabet by 1,415.4% during the 3rd quarter. Connecticut Wealth Management LLC now owns 8,350 shares of the information services provider’s stock valued at $803,000 after purchasing an additional 7,799 shares during the last quarter. Matthew Goff Investment Advisor LLC boosted its holdings in Alphabet by 4.2% during the 4th quarter. Matthew Goff Investment Advisor LLC now owns 7,380 shares of the information services provider’s stock valued at $655,000 after acquiring an additional 300 shares during the period. Finally, Gould Capital LLC boosted its holdings in Alphabet by 2,150.0% during the 3rd quarter. Gould Capital LLC now owns 315 shares of the information services provider’s stock valued at $30,000 after acquiring an additional 301 shares during the period. Institutional investors own 28.69% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on GOOG shares. Piper Sandler lowered their target price on Alphabet from $122.00 to $120.00 and set an “overweight” rating for the company in a report on Friday, February 3rd. Jefferies Financial Group set a $125.00 target price on Alphabet in a report on Friday, February 3rd. Cowen lowered their target price on Alphabet from $135.00 to $125.00 and set an “outperform” rating for the company in a report on Wednesday, January 11th. Raymond James upped their price objective on Alphabet from $116.00 to $119.00 and gave the stock an “outperform” rating in a research note on Friday, February 3rd. Finally, Sanford C. Bernstein set a $130.00 price objective on Alphabet in a research note on Monday, February 6th. One investment analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $135.11.

Insider Buying and Selling

In other news, SVP Prabhakar Raghavan sold 32,379 shares of the firm’s stock in a transaction dated Monday, April 3rd. The shares were sold at an average price of $103.46, for a total value of $3,349,931.34. Following the transaction, the senior vice president now directly owns 76,580 shares of the company’s stock, valued at $7,922,966.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Alphabet news, Director Ann Mather sold 340 shares of Alphabet stock in a transaction dated Wednesday, January 25th. The shares were sold at an average price of $96.92, for a total transaction of $32,952.80. Following the transaction, the director now directly owns 11,300 shares of the company’s stock, valued at $1,095,196. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Prabhakar Raghavan sold 32,379 shares of Alphabet stock in a transaction dated Monday, April 3rd. The stock was sold at an average price of $103.46, for a total transaction of $3,349,931.34. Following the transaction, the senior vice president now directly owns 76,580 shares in the company, valued at $7,922,966.80. The disclosure for this sale can be found here. Insiders sold a total of 112,192 shares of company stock worth $11,373,417 in the last 90 days. Insiders own 12.99% of the company’s stock.

Alphabet Trading Down 0.2 %

Shares of Alphabet stock opened at $104.95 on Thursday. The firm has a 50-day simple moving average of $98.27 and a two-hundred day simple moving average of $96.34. The company has a market cap of $1.34 trillion, a P/E ratio of 23.06, a price-to-earnings-growth ratio of 1.45 and a beta of 1.10. Alphabet Inc. has a fifty-two week low of $83.45 and a fifty-two week high of $139.85. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.34 and a current ratio of 2.38.

Alphabet (NASDAQ:GOOG – Get Rating) last issued its quarterly earnings data on Thursday, February 2nd. The information services provider reported $1.05 earnings per share for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.09). Alphabet had a return on equity of 23.54% and a net margin of 21.20%. The firm had revenue of $76.05 billion during the quarter, compared to analyst estimates of $76.49 billion. During the same quarter last year, the company posted $1.53 EPS. The company’s revenue was up 1.0% on a year-over-year basis. As a group, equities analysts predict that Alphabet Inc. will post 5.11 earnings per share for the current fiscal year.

Alphabet Company Profile

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Alphabet, Inc engages in the business of delivering online advertising, cloud-based solutions that provide enterprise customers with infrastructure and platform services, the provision of communication and collaboration tools, and sales of other products and services such as apps and in-app purchases, hardware, and subscription-based products.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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