Alphabet Inc. (NASDAQ:GOOGL) is Kavar Capital Partners Group LLC’s 10th Largest Position

Kavar Capital Partners Group LLC lowered its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.6% in the third quarter, HoldingsChannel.com reports. The fund owned 102,866 shares of the information services provider’s stock after selling 648 shares during the quarter. Alphabet comprises about 2.7% of Kavar Capital Partners Group LLC’s portfolio, making the stock its 10th largest holding. Kavar Capital Partners Group LLC’s holdings in Alphabet were worth $17,060,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in GOOGL. China Universal Asset Management Co. Ltd. raised its stake in shares of Alphabet by 70.6% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 101,230 shares of the information services provider’s stock valued at $15,279,000 after buying an additional 41,880 shares during the last quarter. Fortis Group Advisors LLC boosted its stake in shares of Alphabet by 552.0% in the first quarter. Fortis Group Advisors LLC now owns 39,276 shares of the information services provider’s stock worth $5,928,000 after buying an additional 33,252 shares during the last quarter. JLB & Associates Inc. grew its holdings in Alphabet by 7.2% during the first quarter. JLB & Associates Inc. now owns 15,801 shares of the information services provider’s stock worth $2,406,000 after acquiring an additional 1,066 shares during the period. Van ECK Associates Corp raised its position in Alphabet by 13.5% during the first quarter. Van ECK Associates Corp now owns 3,537,451 shares of the information services provider’s stock valued at $533,908,000 after acquiring an additional 419,480 shares in the last quarter. Finally, Ables Iannone Moore & Associates Inc. lifted its holdings in Alphabet by 1.1% in the first quarter. Ables Iannone Moore & Associates Inc. now owns 62,534 shares of the information services provider’s stock valued at $9,436,000 after acquiring an additional 655 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. JMP Securities raised their price objective on shares of Alphabet from $200.00 to $220.00 and gave the stock a “market outperform” rating in a research note on Wednesday, October 30th. KeyCorp raised their price target on shares of Alphabet from $200.00 to $215.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Royal Bank of Canada upped their price objective on shares of Alphabet from $204.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Needham & Company LLC reissued a “buy” rating and set a $210.00 target price on shares of Alphabet in a research note on Wednesday, October 30th. Finally, JPMorgan Chase & Co. lifted their price target on Alphabet from $200.00 to $208.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Seven analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $205.90.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total value of $109,420.08. Following the completion of the sale, the chief accounting officer now owns 32,017 shares in the company, valued at approximately $5,136,807.48. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total value of $109,420.08. Following the completion of the sale, the chief accounting officer now directly owns 32,017 shares of the company’s stock, valued at approximately $5,136,807.48. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 800 shares of the business’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $163.03, for a total value of $130,424.00. Following the completion of the sale, the director now owns 30,024 shares in the company, valued at $4,894,812.72. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 242,552 shares of company stock worth $40,287,253. 11.55% of the stock is currently owned by insiders.

Alphabet Trading Up 2.4 %

GOOGL opened at $180.75 on Friday. The stock has a market capitalization of $2.23 trillion, a PE ratio of 23.97, a P/E/G ratio of 1.20 and a beta of 1.03. Alphabet Inc. has a one year low of $127.90 and a one year high of $191.75. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The business’s 50 day moving average price is $162.86 and its 200 day moving average price is $169.36.

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 the consensus estimate of $1.83 by $0.29. The business had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same quarter in the prior year, the company posted $1.55 EPS. As a group, equities research analysts expect that Alphabet Inc. will post 7.99 EPS for the current year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be issued a $0.20 dividend. The ex-dividend date is Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.44%. Alphabet’s dividend payout ratio is currently 10.61%.

About Alphabet

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.