Kennicott Capital Management LLC Has $266,000 Position in Alphabet Inc. (NASDAQ:GOOGL)

Kennicott Capital Management LLC increased its position in Alphabet Inc. (NASDAQ:GOOGL) by 200.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,660 shares of the information services provider’s stock after buying an additional 4,440 shares during the period. Kennicott Capital Management LLC’s holdings in Alphabet were worth $266,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in GOOGL. Vanguard Group Inc. increased its holdings in Alphabet by 1,919.4% in the third quarter. Vanguard Group Inc. now owns 477,035,902 shares of the information services provider’s stock worth $45,628,484,000 after buying an additional 453,413,389 shares during the last quarter. State Street Corp increased its holdings in Alphabet by 1,900.6% in the third 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 increased its holdings in Alphabet by 111,197.8% in the fourth 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 increased its holdings in Alphabet by 1,759.2% in the third 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 acquired a new position in Alphabet in the fourth quarter worth approximately $8,335,063,000. Institutional investors and hedge funds own 35.08% of the company’s stock.

Insider Buying and Selling

In related news, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $137.30, for a total transaction of $27,460.00. Following the completion of the transaction, the director now owns 7,584 shares in the company, valued at $1,041,283.20. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider John Kent Walker sold 42,900 shares of the business’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $136.51, for a total value of $5,856,279.00. Following the sale, the insider now directly owns 10,383 shares of the company’s stock, valued at approximately $1,417,383.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John L. Hennessy sold 200 shares of the stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $137.30, for a total value of $27,460.00. Following the transaction, the director now owns 7,584 shares of the company’s stock, valued at approximately $1,041,283.20. The disclosure for this sale can be found here. Insiders sold a total of 176,576 shares of company stock worth $23,425,367 over the last three months. 0.88% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have commented on GOOGL. JPMorgan Chase & Co. increased their price target on Alphabet from $121.00 to $150.00 in a report on Wednesday, July 26th. Jefferies Financial Group increased their price target on Alphabet from $150.00 to $165.00 in a report on Wednesday, July 26th. Needham & Company LLC increased their price target on Alphabet from $140.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, October 25th. Barclays lowered their price target on Alphabet from $200.00 to $180.00 and set an “overweight” rating on the stock in a report on Wednesday, October 25th. Finally, Mizuho increased their price target on Alphabet from $135.00 to $155.00 in a report on Wednesday, July 26th. Five research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and an average price target of $147.00.

Alphabet Price Performance

Shares of GOOGL stock opened at $136.25 on Tuesday. The stock has a 50-day moving average price of $133.42 and a 200 day moving average price of $127.88. The company has a quick ratio of 2.01, a current ratio of 2.04 and a debt-to-equity ratio of 0.05. The firm has a market cap of $1.71 trillion, a price-to-earnings ratio of 26.15, a PEG ratio of 1.51 and a beta of 1.05. Alphabet Inc. has a 12 month low of $84.86 and a 12 month high of $141.22.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Tuesday, October 24th. The information services provider reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.45 by $0.10. The firm 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%. Research analysts expect that Alphabet Inc. will post 5.74 EPS for the current year.

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