Kitching Partners LLC Acquires Shares of 1,859 Alphabet Inc. (NASDAQ:GOOGL)

Kitching Partners LLC bought a new position in Alphabet Inc. (NASDAQ:GOOGL) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 1,859 shares of the information services provider’s stock, valued at approximately $308,000. Alphabet comprises about 0.4% of Kitching Partners LLC’s investment portfolio, making the stock its 23rd largest position.

A number of other institutional investors have also modified their holdings of the stock. Lantz Financial LLC boosted its holdings in Alphabet by 10.8% in the second quarter. Lantz Financial LLC now owns 4,622 shares of the information services provider’s stock worth $842,000 after purchasing an additional 452 shares during the period. Omega Financial Group LLC lifted its position in shares of Alphabet by 39.9% in the 2nd quarter. Omega Financial Group LLC now owns 3,050 shares of the information services provider’s stock worth $556,000 after buying an additional 870 shares during the last quarter. Cardinal Point Capital Management ULC boosted its holdings in shares of Alphabet by 14.0% in the 2nd quarter. Cardinal Point Capital Management ULC now owns 1,824 shares of the information services provider’s stock valued at $332,000 after buying an additional 224 shares during the period. Compton Wealth Advisory Group LLC grew its position in shares of Alphabet by 2.0% during the 2nd quarter. Compton Wealth Advisory Group LLC now owns 39,407 shares of the information services provider’s stock valued at $7,178,000 after buying an additional 775 shares during the last quarter. Finally, Diversify Advisory Services LLC raised its stake in Alphabet by 61.0% during the second quarter. Diversify Advisory Services LLC now owns 194,869 shares of the information services provider’s stock worth $36,826,000 after acquiring an additional 73,802 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. DA Davidson began coverage on Alphabet in a report on Tuesday, September 10th. They set a “neutral” rating and a $170.00 target price for the company. BMO Capital Markets reaffirmed an “outperform” rating and issued a $217.00 target price (up from $215.00) on shares of Alphabet in a research report on Wednesday, October 30th. Morgan Stanley raised their target price on Alphabet from $190.00 to $205.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Piper Sandler reaffirmed an “overweight” rating and issued a $210.00 price objective (up previously from $200.00) on shares of Alphabet in a report on Wednesday, October 30th. Finally, Pivotal Research boosted their target price on shares of Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Seven investment analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $206.03.

Alphabet Stock Performance

Shares of GOOGL opened at $195.40 on Thursday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The stock has a market cap of $2.39 trillion, a price-to-earnings ratio of 25.92, a PEG ratio of 1.24 and a beta of 1.01. Alphabet Inc. has a one year low of $129.68 and a one year high of $195.61. The company has a 50-day moving average of $170.07 and a two-hundred day moving average of $170.28.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.29. The firm had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same period in the prior year, the business earned $1.55 EPS. On average, equities research analysts expect that Alphabet Inc. will post 8.01 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.41%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio is currently 10.61%.

Insider Transactions at Alphabet

In related news, Director Kavitark Ram Shriram sold 37,134 shares of Alphabet stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $185.02, for a total value of $6,870,532.68. Following the completion of the sale, the director now owns 282,832 shares of the company’s stock, valued at approximately $52,329,576.64. The trade was a 11.61 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $160.63, for a total transaction of $3,614,175.00. Following the transaction, the chief executive officer now directly owns 2,114,885 shares in the company, valued at $339,713,977.55. The trade was a 1.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 197,123 shares of company stock valued at $34,121,676. 11.55% of the stock is 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.