Kestra Advisory Services LLC holds a $59.01 million position in Alphabet Inc. (NASDAQ:GOOGL)


Kestra Advisory Services LLC increased its stake in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 8.1% in Q1, reports HoldingsChannel.com. The company owned 21,215 shares of the information services provider after acquiring an additional 1,583 shares during the quarter. Alphabet represents about 0.6% of Kestra Advisory Services LLC’s holdings, making the stock its 18th-largest position. Kestra Advisory Services LLC’s holdings in Alphabet were worth $59,005,000 when it last filed with the Securities and Exchange Commission.

Several other hedge funds also bought and sold shares of the company. State Street Corp increased its position in Alphabet by 1.4% in the fourth quarter. State Street Corp now owns 11,252,792 shares of the information services provider valued at $32,599,789,000 after purchasing an additional 157,280 shares during the period. Geode Capital Management LLC increased its stake in Alphabet by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 5,322,633 shares of the information services provider worth $15,381,257,000 after acquiring an additional 116,084 shares in the last quarter. Norges Bank bought a new position in Alphabet during Q4 for a value of $14,477,662,000. Massachusetts Financial Services Co. MA increased its stake in Alphabet by 0.7% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,825,959 shares of the information services provider worth $8,186,916,000 after acquiring 20,120 additional shares in the last quarter. Finally, Invesco Ltd. increased its stake in Alphabet by 14.1% in the 4th quarter. Invesco Ltd. now owns 2,292,059 shares of the information services provider worth $6,640,190,000 after acquiring an additional 283,907 shares in the last quarter. Institutional investors and hedge funds hold 41.70% of the company’s shares.

Alphabet stock up 1.3%

GOOGL shares opened at $2,235.55 on Friday. The company has a market capitalization of $1.47 trillion, a P/E ratio of 20.22, a P/E/G ratio of 1.12 and a beta of 1.10. The stock has a 50-day simple moving average of $154.79 and a two-hundred-day simple moving average of $140.84. The company has a debt ratio of 0.06, a current ratio of 2.87 and a quick ratio of 2.85. Alphabet Inc. has a 1-year minimum of $2,037.69 and a 1-year maximum of $3,030.93.

Alphabet shares are set to split before the market opens on Monday, July 18. The 20-1 split was announced on Tuesday, February 1. The newly created shares will be issued to shareholders after the closing bell on Friday July 15.

Alphabet (NASDAQ:GOOGL – Get Rating) last released its results on Tuesday, April 26. The information services provider reported earnings per share (EPS) of $1.23 for the quarter, missing the consensus estimate of $1.28 per ($0.05). The company posted revenue of $56.02 billion in the quarter, versus $56.17 billion expected by analysts. Alphabet had a return on equity of 30.18% and a net margin of 27.57%. During the same period of the previous year, the company achieved EPS of $1.31. On average, analysts expect Alphabet Inc. to post earnings per share of 110.17 for the current fiscal year.

Changes to analyst ratings

GOOGL has been the subject of a number of analyst reports. Piper Sandler cut her price target on Alphabet shares from $145.00 to $138.75 and set an “overweight” rating on the stock in a Thursday, June 2 report. Evercore ISI cut its price target on Alphabet shares from $175.00 to $165.00 and set an “outperform” rating on the stock in a Wednesday, April 27 report. StockNews.com downgraded Alphabet shares from a “buy” rating to a “hold” rating in a report on Friday, April 29. Barclays cut its price target on Alphabet shares from $160.00 to $150.00 and set an “overweight” rating on the stock in a Tuesday, July 5 report. Finally, Wells Fargo & Company cut its price target on Alphabet shares from $180.00 to $170.00 in a Wednesday, April 27 report. One equity research analyst gave the stock a hold rating, thirty-four gave the company a buy rating and one gave the company a strong buy rating. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $162.21.

Insiders place their bets

In other news, manager Lawrence Page sold 100 shares in a trade that took place on Monday, April 18. The stock was sold at an average price of $2,574.16, for a total transaction of $257,416.00. Following the completion of the sale, the director now owns 19,527,502 shares of the company, valued at $50,266,914,548.32. The transaction was disclosed in a legal filing with the SEC, accessible via the SEC’s website. In related news, CAO Amie Thuener O’toole sold 42 shares of the company in a trade that took place on Tuesday, May 3. The stock was sold at an average price of $2,335.30, for a total transaction of $98,082.60. Following completion of the transaction, the chief accounting officer now owns 1,170 shares of the company, valued at $2,732,301. The sale was disclosed in a filing with the SEC, which is available via this hyperlink. Additionally, director Lawrence Page sold 100 shares of the company in a trade that took place on Monday, April 18. The shares were sold at an average price of $2,574.16, for a total value of $257,416.00. Following the transaction, the administrator now owns 19,527,502 shares of the company, valued at approximately $50,266,914,548.32. The disclosure of this sale can be found here. Insiders sold a total of 5,839 shares of the company valued at $12,873,739 during the last quarter. 11.44% of the shares are held by company insiders.

About the alphabet

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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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Want to see which other hedge funds hold GOOGL? Visit HoldingsChannel.com for the latest 13F filings and insider trading for Alphabet Inc. (NASDAQ:GOOGL – Get Rating).

Institutional ownership by quarter for Alphabet (NASDAQ:GOOGL)



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