Kimelman & Baird LLC Has $6.55 Million Stake in Alphabet Inc. (NASDAQ:GOOG)

Kimelman & Baird LLC trimmed its holdings in Alphabet Inc. (NASDAQ:GOOG) by 6.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 34,369 shares of the information services provider’s stock after selling 2,490 shares during the period. Kimelman & Baird LLC’s holdings in Alphabet were worth $6,545,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in GOOG. Raymond James Financial Inc. bought a new position in shares of Alphabet during the fourth quarter worth approximately $1,551,533,000. FMR LLC increased its stake in shares of Alphabet by 5.2% during the third quarter. FMR LLC now owns 114,802,133 shares of the information services provider’s stock worth $19,193,768,000 after purchasing an additional 5,655,022 shares during the period. Proficio Capital Partners LLC increased its stake in shares of Alphabet by 5,712.8% during the fourth quarter. Proficio Capital Partners LLC now owns 4,367,831 shares of the information services provider’s stock worth $831,810,000 after purchasing an additional 4,292,689 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Alphabet by 10.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,334,082 shares of the information services provider’s stock worth $5,573,125,000 after purchasing an additional 3,113,395 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Alphabet by 182.1% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,526,055 shares of the information services provider’s stock worth $422,331,000 after purchasing an additional 1,630,701 shares during the period. 27.26% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Wedbush reiterated an “outperform” rating and set a $220.00 target price on shares of Alphabet in a research note on Thursday, January 30th. Needham & Company LLC restated a “buy” rating on shares of Alphabet in a research note on Wednesday, February 5th. Morgan Stanley restated an “overweight” rating on shares of Alphabet in a research note on Wednesday, February 5th. Oppenheimer raised their price objective on Alphabet from $215.00 to $225.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Finally, Scotiabank raised their price objective on Alphabet from $212.00 to $240.00 and gave the stock a “sector outperform” rating in a research note on Friday, January 24th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $209.13.

Alphabet Trading Up 1.8 %

NASDAQ GOOG opened at $167.62 on Monday. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a twelve month low of $141.13 and a twelve month high of $208.70. The company has a market cap of $2.04 trillion, a price-to-earnings ratio of 20.82, a price-to-earnings-growth ratio of 1.34 and a beta of 1.03. The business’s fifty day moving average is $187.41 and its 200 day moving average is $178.10.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, beating 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%. As a group, sell-side analysts expect that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.48%. The ex-dividend date is Monday, March 10th. Alphabet’s payout ratio is presently 9.94%.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 1,374 shares of Alphabet stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $173.47, for a total transaction of $238,347.78. Following the transaction, the chief accounting officer now directly owns 15,024 shares of the company’s stock, valued at approximately $2,606,213.28. The trade was a 8.38 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $165.53, for a total value of $33,106.00. Following the transaction, the director now directly owns 7,813 shares in the company, valued at $1,293,285.89. The trade was a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 93,048 shares of company stock valued at $17,374,274. 12.99% of the stock is currently owned by company insiders.

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.