Kera Capital Partners Inc. Boosts Holdings in Alphabet Inc. $GOOGL
by Renee Jackson · The Cerbat GemKera Capital Partners Inc. raised its stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 4.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,187 shares of the information services provider’s stock after purchasing an additional 195 shares during the period. Kera Capital Partners Inc.’s holdings in Alphabet were worth $738,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Guardian Wealth Management Inc. lifted its holdings in Alphabet by 242.9% during the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 119 shares in the last quarter. IMA Advisory Services Inc. purchased a new position in shares of Alphabet in the first quarter worth about $28,000. von Borstel & Associates Inc. purchased a new position in shares of Alphabet in the first quarter worth about $28,000. NBZ Investment Advisors LLC lifted its stake in shares of Alphabet by 85.7% in the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock worth $30,000 after buying an additional 90 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. purchased a new position in shares of Alphabet in the first quarter worth about $39,000. 40.03% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
GOOGL has been the topic of several research reports. Oppenheimer reissued an “outperform” rating and issued a $270.00 price target (up from $235.00) on shares of Alphabet in a research note on Tuesday, September 2nd. Wall Street Zen raised shares of Alphabet from a “hold” rating to a “buy” rating in a research note on Saturday. UBS Group raised their price target on shares of Alphabet from $192.00 to $202.00 and gave the stock a “neutral” rating in a research note on Thursday, July 24th. BNP Paribas downgraded shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, June 26th. Finally, Royal Bank Of Canada raised their price target on shares of Alphabet from $220.00 to $260.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 3rd. Three research analysts have rated the stock with a Strong Buy rating, thirty-two have issued a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $221.44.
View Our Latest Research Report on Alphabet
Insider Activity at Alphabet
In other news, insider John Kent Walker sold 23,820 shares of the business’s stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $194.70, for a total value of $4,637,754.00. Following the sale, the insider directly owned 42,999 shares of the company’s stock, valued at approximately $8,371,905.30. The trade was a 35.65% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $229.73, for a total transaction of $7,466,225.00. Following the completion of the sale, the chief executive officer directly owned 2,429,892 shares in the company, valued at $558,219,089.16. This trade represents a 1.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 254,710 shares of company stock valued at $49,208,380 over the last 90 days. Insiders own 11.64% of the company’s stock.
Alphabet Price Performance
Alphabet stock opened at $240.80 on Friday. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $242.25. The stock has a market cap of $2.91 trillion, a P/E ratio of 25.64, a PEG ratio of 1.62 and a beta of 1.01. The company has a 50-day moving average price of $201.89 and a 200 day moving average price of $177.48. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07.
Alphabet (NASDAQ:GOOGL – Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.16. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The firm had revenue of $96.43 billion during the quarter, compared to analysts’ expectations of $93.60 billion. Sell-side analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.
Alphabet Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be given a dividend of $0.21 per share. The ex-dividend date is Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is currently 8.95%.
Alphabet Company 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.
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