Kimelman & Baird LLC Decreases Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Kimelman & Baird LLC lowered its stake in Alphabet Inc. (NASDAQ:GOOGL) by 2.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 278,001 shares of the information services provider’s stock after selling 6,441 shares during the quarter. Alphabet makes up 4.2% of Kimelman & Baird LLC’s investment portfolio, making the stock its 7th largest position. Kimelman & Baird LLC’s holdings in Alphabet were worth $52,626,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Schear Investment Advisers LLC raised its position in shares of Alphabet by 17.0% in the third quarter. Schear Investment Advisers LLC now owns 33,751 shares of the information services provider’s stock worth $5,598,000 after buying an additional 4,905 shares in the last quarter. Permanent Capital Management LP purchased a new stake in shares of Alphabet in the 4th quarter valued at about $273,000. Landscape Capital Management L.L.C. boosted its position in shares of Alphabet by 27.9% during the 3rd quarter. Landscape Capital Management L.L.C. now owns 25,275 shares of the information services provider’s stock valued at $4,192,000 after acquiring an additional 5,516 shares during the last quarter. Glass Wealth Management Co LLC grew its holdings in shares of Alphabet by 4.5% during the fourth quarter. Glass Wealth Management Co LLC now owns 37,054 shares of the information services provider’s stock worth $7,014,000 after purchasing an additional 1,580 shares in the last quarter. Finally, Olistico Wealth LLC increased its position in shares of Alphabet by 9.1% in the fourth quarter. Olistico Wealth LLC now owns 8,981 shares of the information services provider’s stock worth $1,700,000 after purchasing an additional 746 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Activity

In other news, insider John Kent Walker sold 16,820 shares of the firm’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $192.62, for a total value of $3,239,868.40. Following the transaction, the insider now directly owns 43,981 shares in the company, valued at $8,471,620.22. This trade represents a 27.66 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Ruth Porat sold 17,690 shares of the business’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $183.48, for a total value of $3,245,761.20. Following the sale, the insider now owns 1,449,286 shares of the company’s stock, valued at approximately $265,914,995.28. This represents a 1.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 104,812 shares of company stock valued at $19,336,979 over the last ninety days. 11.55% of the stock is currently owned by corporate insiders.

Alphabet Price Performance

GOOGL opened at $154.33 on Friday. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The company has a market cap of $1.88 trillion, a price-to-earnings ratio of 19.17, a price-to-earnings-growth ratio of 1.34 and a beta of 1.02. The stock has a fifty day simple moving average of $179.66 and a two-hundred day simple moving average of $176.72. Alphabet Inc. has a 12-month low of $147.22 and a 12-month high of $207.05.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were given a $0.20 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.80 annualized dividend and a yield of 0.52%. Alphabet’s dividend payout ratio (DPR) is presently 9.94%.

Analyst Ratings Changes

Several brokerages have issued reports on GOOGL. Wells Fargo & Company lifted their target price on shares of Alphabet from $187.00 to $190.00 and gave the company an “equal weight” rating in a research report on Monday, January 13th. JMP Securities reiterated a “market perform” rating on shares of Alphabet in a research report on Wednesday, February 5th. Rosenblatt Securities restated a “neutral” rating and set a $205.00 price target on shares of Alphabet in a research report on Wednesday, March 19th. Needham & Company LLC reiterated a “buy” rating and issued a $225.00 price objective on shares of Alphabet in a report on Wednesday, February 5th. Finally, DA Davidson raised their price objective on Alphabet from $190.00 to $200.00 and gave the company a “neutral” rating in a report on Friday, January 24th. Ten research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $210.59.

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.