Kathmere Capital Management LLC Increases Position in Alphabet Inc. (NASDAQ:GOOGL)

Kathmere Capital Management LLC lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 7.0% in the first quarter, HoldingsChannel.com reports. The fund owned 6,252 shares of the information services provider’s stock after acquiring an additional 409 shares during the period. Kathmere Capital Management LLC’s holdings in Alphabet were worth $944,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Cambridge Advisors Inc. increased its position in shares of Alphabet by 4.0% during the 1st quarter. Cambridge Advisors Inc. now owns 10,318 shares of the information services provider’s stock valued at $1,557,000 after purchasing an additional 395 shares during the last quarter. Sawyer & Company Inc raised its position in Alphabet by 0.8% in the first quarter. Sawyer & Company Inc now owns 59,384 shares of the information services provider’s stock worth $8,963,000 after acquiring an additional 443 shares during the period. Harbour Capital Advisors LLC boosted its stake in Alphabet by 0.6% in the first quarter. Harbour Capital Advisors LLC now owns 21,450 shares of the information services provider’s stock valued at $3,315,000 after acquiring an additional 127 shares during the last quarter. Atwater Malick LLC grew its position in shares of Alphabet by 1.2% during the 1st quarter. Atwater Malick LLC now owns 86,026 shares of the information services provider’s stock valued at $12,984,000 after acquiring an additional 1,034 shares during the period. Finally, Tevis Investment Management increased its stake in shares of Alphabet by 34.5% during the 1st quarter. Tevis Investment Management now owns 14,257 shares of the information services provider’s stock worth $2,152,000 after purchasing an additional 3,656 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.

Alphabet Stock Performance

Shares of NASDAQ GOOGL opened at $182.15 on Monday. The stock’s 50-day moving average is $172.85 and its 200 day moving average is $154.44. The stock has a market cap of $2.25 trillion, a price-to-earnings ratio of 27.94, a P/E/G ratio of 1.37 and a beta of 1.01. Alphabet Inc. has a 1-year low of $115.35 and a 1-year high of $186.05. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.49 by $0.40. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The firm had revenue of $80.54 billion for the quarter, compared to the consensus estimate of $66.04 billion. During the same period last year, the firm posted $1.17 earnings per share. On average, sell-side analysts anticipate that Alphabet Inc. will post 7.6 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 10th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, June 10th. This represents a $0.80 annualized dividend and a yield of 0.44%. Alphabet’s payout ratio is 12.27%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on GOOGL. Morgan Stanley reiterated an “overweight” rating and issued a $195.00 price objective on shares of Alphabet in a research note on Wednesday, May 15th. UBS Group increased their price target on Alphabet from $150.00 to $166.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. Barclays upped their price objective on shares of Alphabet from $173.00 to $200.00 and gave the company an “overweight” rating in a report on Friday, April 26th. BMO Capital Markets reissued an “outperform” rating and issued a $215.00 price target on shares of Alphabet in a research report on Wednesday, May 15th. Finally, Robert W. Baird raised their price objective on shares of Alphabet from $160.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Six investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and a consensus price target of $193.66.

Insider Activity

In other news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $154.79, for a total value of $105,566.78. Following the completion of the sale, the chief accounting officer now owns 29,284 shares of the company’s stock, valued at approximately $4,532,870.36. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $154.79, for a total value of $105,566.78. Following the transaction, the chief accounting officer now directly owns 29,284 shares of the company’s stock, valued at approximately $4,532,870.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $155.67, for a total value of $3,502,575.00. Following the sale, the chief executive officer now directly owns 2,325,513 shares of the company’s stock, valued at approximately $362,012,608.71. The disclosure for this sale can be found here. Over the last three months, insiders have sold 143,026 shares of company stock valued at $24,026,243. 11.55% of the stock is currently owned by insiders.

Alphabet 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.