United Capital Management of KS Inc. owns $7.20 million worth of shares in Alphabet Inc. (NASDAQ:GOOGL)
United Capital Management of KS Inc. increased its position in Alphabet Inc. (NASDAQ: GOOGL – Get a rating) by 3.4% in Q1, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund held 2,589 shares of the information services provider after buying an additional 86 shares during the quarter. Alphabet represents about 2.8% of United Capital Management of KS Inc.’s investment portfolio, making the stock its sixth-largest holding. United Capital Management’s holdings of KS Inc. in Alphabet were worth $7,201,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently changed their positions in GOOGL. Morling Financial Advisors LLC bought a new position in Alphabet stock during the fourth quarter worth approximately $29,000. West Bancorporation Inc. bought a new position in Alphabet stock during the fourth quarter worth approximately $29,000. Wealthgate Family Office LLC bought a new position in Alphabet stock during the fourth quarter worth about $32,000. NS Partners Ltd bought a new position in Alphabet shares during the fourth quarter worth approximately $41,000. Finally, Schubert & Co bought a new position in Alphabet stock during the fourth quarter worth about $43,000. 41.70% of the shares are held by hedge funds and other institutional investors.
NASDAQ GOOGL opened at $2,207.35 on Friday. Alphabet Inc. has a 1-year minimum of $2,037.69 and a 1-year maximum of $3,030.93. The company has a current ratio of 2.87, a quick ratio of 2.85 and a debt ratio of 0.06. The company has a market capitalization of $1.45 trillion, a PE ratio of 19.97, a price-to-earnings growth ratio of 1.17 and a beta of 1.10. The company’s fifty-day simple moving average is $2,247.90 and its 200-day simple moving average is $2,526.70.
Alphabet shares are set to split on Monday, July 18. The 20-1 split was announced on Tuesday, February 1. The newly created shares will be payable to shareholders after the closing bell on Friday July 15.
Alphabet (NASDAQ: GOOGL – Get a rating) last reported results on Tuesday, April 26. The information services provider reported EPS of $24.62 for the quarter, missing the consensus estimate of $25.70 per ($1.08). The company posted revenue of $56.02 billion for the quarter, versus analyst estimates of $56.17 billion. Alphabet had a return on equity of 30.18% and a net margin of 27.57%. In the same period a year earlier, the company earned earnings per share of $26.29. As a group, analysts expect Alphabet Inc. to post 110.62 EPS for the current year.
In other Alphabet news, the director Lawrence Page sold 100 shares of the company in a transaction dated Monday, April 18. The shares were sold at an average price of $2,574.16, for a total transaction of $257,416.00. Following the completion of the sale, the administrator now directly owns 19,527,502 shares of the company, valued at $50,266,914,548.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, accessible via this hyperlink. Additionally, major shareholder 2021 Gp LLC Gv purchased 13,528 shares of the company in a transaction on Tuesday, May 24. The shares were purchased at an average price of $33.72 per share, with a total value of $456,164.16. Following the completion of the acquisition, the insider now directly owns 593,402 shares of the company, valued at $20,009,515.44. Disclosure of this purchase can be found here. Insiders have sold 5,839 shares of the company worth $12,873,739 in the past three months. Insiders of the company own 11.44% of the shares of the company.
Several stock analysts have recently released reports on the company. Wolfe Research reduced its price target on Alphabet from $3,500.00 to $2,900.00 and set an “outperform” rating for the company in a Wednesday, April 27 research report. BMO Capital Markets reduced its price target on Alphabet from $3,300.00 to $3,000.00 and set an “outperform” rating for the company in a Wednesday, April 27 research report. Guggenheim reduced its price target on Alphabet from $3,350.00 to $3,000.00 in a Wednesday, April 27 research report. Jefferies Financial Group reduced its price target on Alphabet from $3,400.00 to $3,100.00 in a Tuesday, May 24 research report. Finally, Moffett Nathanson reduced his price target on Alphabet to $2,650.00 in a Thursday, May 26 research report. One equity research analyst gave the stock a hold rating, thirty-four issued a buy rating and one gave the company’s stock a high buy rating. According to MarketBeat.com, the stock has an average buy rating and an average price target of $3,244.22.
Alphabet Company Profile (Get a rating)
Alphabet Inc provides various products and platforms in the United States, Europe, the Middle East, Africa, Asia-Pacific, Canada and Latin America. It operates through Google Services, Google Cloud and Other Bets segments. The Google Services segment offers products and services, including Ads, Android, Chrome, Hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search and YouTube.
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