KCM Investment Advisors LLC Has $27.83 Million Holdings in Alphabet Inc. (NASDAQ:GOOG)

KCM Investment Advisors LLC cut its holdings in Alphabet Inc. (NASDAQ:GOOG) by 2.9% during the second quarter, Holdings Channel.com reports. The firm owned 151,729 shares of the information services provider’s stock after selling 4,497 shares during the quarter. KCM Investment Advisors LLC’s holdings in Alphabet were worth $27,830,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Partnership Wealth Management LLC bought a new position in Alphabet during the fourth quarter worth $26,000. Pacific Capital Wealth Advisors Inc. bought a new position in Alphabet during the fourth quarter worth $34,000. Richardson Financial Services Inc. bought a new position in Alphabet during the fourth quarter worth $34,000. 1620 Investment Advisors Inc. bought a new position in Alphabet during the second quarter worth $37,000. Finally, Hoese & Co LLP boosted its position in Alphabet by 62.5% during the second quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock worth $45,000 after purchasing an additional 100 shares during the period. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total value of $3,652,875.00. Following the transaction, the chief executive officer now directly owns 2,182,385 shares in the company, valued at approximately $354,310,204.75. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total value of $3,652,875.00. Following the completion of the sale, the chief executive officer now directly owns 2,182,385 shares of the company’s stock, valued at approximately $354,310,204.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Prabhakar Raghavan sold 3,262 shares of the stock in a transaction on Monday, July 1st. The shares were sold at an average price of $183.99, for a total value of $600,175.38. Following the completion of the sale, the senior vice president now directly owns 9 shares of the company’s stock, valued at $1,655.91. The disclosure for this sale can be found here. Insiders have sold a total of 179,065 shares of company stock worth $31,025,543 in the last ninety days. Corporate insiders own 12.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Oppenheimer boosted their target price on shares of Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Wolfe Research raised shares of Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. TD Cowen boosted their target price on Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Finally, Rosenblatt Securities downgraded Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price for the company. in a research note on Friday, June 28th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $182.86.

Alphabet Price Performance

Alphabet stock opened at $165.11 on Friday. The stock has a market capitalization of $2.04 trillion, a price-to-earnings ratio of 25.32, a PEG ratio of 1.28 and a beta of 1.05. Alphabet Inc. has a 52-week low of $121.46 and a 52-week high of $193.31. The stock’s 50 day moving average price is $175.40 and its two-hundred day moving average price is $165.01. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. The firm had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $84.22 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The company’s revenue for the quarter was up 13.6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.44 EPS. On average, equities analysts predict that Alphabet Inc. will post 7.62 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 9th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date is Monday, September 9th. Alphabet’s dividend payout ratio is currently 12.27%.

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.