Kensington Investment Counsel LLC Has $3.31 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Kensington Investment Counsel LLC lifted its position in Alphabet Inc. (NASDAQ:GOOGL) by 1.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 19,933 shares of the information services provider’s stock after purchasing an additional 343 shares during the quarter. Alphabet accounts for approximately 1.4% of Kensington Investment Counsel LLC’s holdings, making the stock its 25th biggest holding. Kensington Investment Counsel LLC’s holdings in Alphabet were worth $3,306,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Dunhill Financial LLC grew its position in Alphabet by 39.2% during the 3rd quarter. Dunhill Financial LLC now owns 6,185 shares of the information services provider’s stock worth $1,026,000 after acquiring an additional 1,743 shares during the last quarter. Tenere Capital LLC boosted its stake in Alphabet by 26.1% in the third quarter. Tenere Capital LLC now owns 131,459 shares of the information services provider’s stock worth $21,802,000 after purchasing an additional 27,172 shares in the last quarter. Delos Wealth Advisors LLC grew its holdings in shares of Alphabet by 5.8% during the third quarter. Delos Wealth Advisors LLC now owns 9,901 shares of the information services provider’s stock worth $1,642,000 after purchasing an additional 542 shares during the last quarter. World Investment Advisors LLC increased its stake in shares of Alphabet by 2,496.1% in the third quarter. World Investment Advisors LLC now owns 1,205,752 shares of the information services provider’s stock valued at $199,974,000 after buying an additional 1,159,308 shares in the last quarter. Finally, Zega Financial LLC increased its stake in shares of Alphabet by 0.4% in the third quarter. Zega Financial LLC now owns 20,684 shares of the information services provider’s stock valued at $3,430,000 after buying an additional 92 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Stock Down 1.1 %

Alphabet stock opened at $189.82 on Monday. The company has a 50 day moving average of $171.63 and a 200-day moving average of $170.63. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a twelve month low of $129.68 and a twelve month high of $195.61. The stock has a market capitalization of $2.32 trillion, a PE ratio of 25.18, a price-to-earnings-growth ratio of 1.39 and a beta of 1.01.

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

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.42%. The ex-dividend date is Monday, December 9th. Alphabet’s payout ratio is 10.61%.

Insiders Place Their Bets

In other Alphabet news, insider John Kent Walker sold 16,802 shares of the business’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $165.47, for a total transaction of $2,780,226.94. Following the transaction, the insider now owns 43,999 shares of the company’s stock, valued at $7,280,514.53. The trade was a 27.63 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 value of $291,330.00. Following the completion of the sale, the director now directly owns 23,324 shares of the company’s stock, valued at approximately $4,529,987.28. The trade was a 6.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 198,623 shares of company stock valued at $34,413,006 in the last quarter. 11.55% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

GOOGL has been the topic of a number of research analyst reports. Truist Financial increased their price objective on shares of Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Pivotal Research increased their price target 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. Scotiabank raised shares of Alphabet to a “strong-buy” rating in a report on Friday, October 11th. Tigress Financial upped their price objective on Alphabet from $210.00 to $220.00 and gave the stock a “strong-buy” rating in a report on Thursday, September 26th. Finally, Wells Fargo & Company lifted their target price on Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Seven equities research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have given a strong buy rating to the company. According to data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and an average 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.