Kimelman & Baird LLC Sells 3,201 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Kimelman & Baird LLC trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 284,442 shares of the information services provider’s stock after selling 3,201 shares during the period. Alphabet comprises 3.8% of Kimelman & Baird LLC’s holdings, making the stock its 9th largest position. Kimelman & Baird LLC’s holdings in Alphabet were worth $47,175,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Christopher J. Hasenberg Inc raised its holdings in shares of Alphabet by 75.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 60 shares during the period. LMR Partners LLP acquired a new position in Alphabet during the third quarter worth approximately $32,000. Kings Path Partners LLC bought a new stake in Alphabet in the second quarter valued at approximately $36,000. Denver PWM LLC acquired a new stake in shares of Alphabet in the second quarter valued at approximately $41,000. Finally, Quarry LP bought a new position in shares of Alphabet during the 2nd quarter worth approximately $53,000. 40.03% of the stock is currently owned by institutional investors.

Insider Activity

In other Alphabet news, Director John L. Hennessy sold 1,500 shares of the stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $194.22, for a total transaction of $291,330.00. Following the completion of the sale, the director now owns 23,324 shares of the company’s stock, valued at approximately $4,529,987.28. This represents a 6.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 1,367 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $168.84, for a total transaction of $230,804.28. Following the completion of the transaction, the chief accounting officer now owns 29,183 shares in the company, valued at $4,927,257.72. This trade represents a 4.47 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 198,623 shares of company stock valued at $34,413,006. Insiders own 11.55% of the company’s stock.

Alphabet Trading Up 3.6 %

NASDAQ GOOGL opened at $196.66 on Tuesday. The company has a market cap of $2.41 trillion, a price-to-earnings ratio of 26.08, a price-to-earnings-growth ratio of 1.39 and a beta of 1.01. Alphabet Inc. has a twelve month low of $130.66 and a twelve month high of $199.00. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The business’s fifty day moving average is $172.31 and its 200 day moving average is $170.80.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The firm had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. During the same period last year, the firm posted $1.55 earnings per share. As a group, sell-side analysts expect that Alphabet Inc. will post 8.01 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 9th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.41%. The ex-dividend date of this dividend was Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is currently 10.61%.

Analyst Ratings Changes

A number of research firms recently weighed in on GOOGL. Truist Financial increased their price target on Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Royal Bank of Canada raised their target price on shares of Alphabet from $204.00 to $210.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Piper Sandler reiterated an “overweight” rating and issued a $210.00 price target (up previously from $200.00) on shares of Alphabet in a research note on Wednesday, October 30th. Needham & Company LLC restated a “buy” rating and set a $210.00 price objective on shares of Alphabet in a research report on Wednesday, October 30th. Finally, Phillip Securities upgraded Alphabet to a “strong-buy” rating in a report on Friday, November 1st. Seven investment analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $206.08.

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.