Alphabet Inc. (NASDAQ:GOOG) Shares Purchased by KCM Investment Advisors LLC

Posted by on Apr 16th, 2023

KCM Investment Advisors LLC increased its stake in shares of Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 1.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 170,055 shares of the information services provider’s stock after purchasing an additional 2,909 shares during the period. KCM Investment Advisors LLC’s holdings in Alphabet were worth $15,089,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. OLD Second National Bank of Aurora grew its stake in Alphabet by 1,900.0% during the 3rd quarter. OLD Second National Bank of Aurora now owns 260 shares of the information services provider’s stock valued at $25,000 after acquiring an additional 247 shares in the last quarter. Westchester Capital Management Inc. grew its stake in Alphabet by 1,900.0% during the 3rd quarter. Westchester Capital Management Inc. now owns 260 shares of the information services provider’s stock valued at $25,000 after acquiring an additional 247 shares in the last quarter. Carolina Wealth Advisors LLC grew its stake in Alphabet by 1,900.0% during the 3rd quarter. Carolina Wealth Advisors LLC now owns 300 shares of the information services provider’s stock valued at $29,000 after acquiring an additional 285 shares in the last quarter. Saban Cheryl grew its stake in Alphabet by 1,900.0% during the 3rd quarter. Saban Cheryl now owns 200 shares of the information services provider’s stock valued at $29,000 after acquiring an additional 190 shares in the last quarter. Finally, Gould Capital LLC grew its stake 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 in the last quarter. Institutional investors and hedge funds own 28.69% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on GOOG shares. Roth Capital reaffirmed a “buy” rating on shares of Alphabet in a research note on Friday, February 3rd. Bank of America increased their price target on shares of Alphabet from $116.00 to $119.00 and gave the company a “buy” rating in a research note on Tuesday, January 31st. Jefferies Financial Group set a $125.00 price target on shares of Alphabet in a research note on Friday, February 3rd. Credit Suisse Group set a $136.00 price target on shares of Alphabet in a research note on Friday, February 3rd. Finally, Sanford C. Bernstein set a $130.00 price target on shares of Alphabet in a research note on Monday, February 6th. One research analyst has rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and an average target price of $135.24.

Insiders Place Their Bets

In other Alphabet news, SVP Prabhakar Raghavan sold 32,379 shares of the stock in a transaction that occurred on Monday, April 3rd. The shares were sold at an average price of $103.46, for a total transaction of $3,349,931.34. Following the sale, the senior vice president now directly owns 76,580 shares in the company, valued at approximately $7,922,966.80. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, insider John Kent Walker sold 29,006 shares of Alphabet stock in a transaction on Wednesday, March 29th. The shares were sold at an average price of $101.84, for a total transaction of $2,953,971.04. Following the completion of the sale, the insider now directly owns 24,277 shares of the company’s stock, valued at approximately $2,472,369.68. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Prabhakar Raghavan sold 32,379 shares of Alphabet stock in a transaction on 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 sale, the senior vice president now directly owns 76,580 shares of the company’s stock, valued at $7,922,966.80. The disclosure for this sale can be found here. Insiders have sold a total of 112,192 shares of company stock worth $11,373,417 in the last ninety days. 12.99% of the stock is owned by corporate insiders.

Alphabet Price Performance

Alphabet stock opened at $109.46 on Friday. The firm has a market cap of $1.40 trillion, a PE ratio of 24.05, a price-to-earnings-growth ratio of 1.45 and a beta of 1.10. Alphabet Inc. has a 52-week low of $83.45 and a 52-week high of $131.92. The company has a quick ratio of 2.34, a current ratio of 2.38 and a debt-to-equity ratio of 0.06. The company’s 50 day moving average is $99.08 and its two-hundred day moving average is $96.70.

Alphabet (NASDAQ:GOOG – Get Rating) last released its earnings results on Thursday, February 2nd. The information services provider reported $1.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.09). The business had revenue of $76.05 billion for the quarter, compared to analyst estimates of $76.49 billion. Alphabet had a return on equity of 23.54% and a net margin of 21.20%. Alphabet’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.53 earnings per share. On average, research analysts expect that Alphabet Inc. will post 5.11 EPS 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.

See Also

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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