Kingsview Wealth Management LLC Increases Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Kingsview Wealth Management LLC raised its position in Alphabet Inc. (NASDAQ:GOOGL) by 15.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 135,694 shares of the information services provider’s stock after purchasing an additional 18,560 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Alphabet were worth $25,687,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in GOOGL. LMR Partners LLP purchased a new position in shares of Alphabet during the 3rd quarter worth approximately $32,000. E Fund Management Hong Kong Co. Ltd. lifted its stake in Alphabet by 518.8% during the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock worth $37,000 after purchasing an additional 166 shares in the last quarter. Fiduciary Advisors Inc. purchased a new position in shares of Alphabet during the fourth quarter worth $39,000. Denver PWM LLC grew its stake in shares of Alphabet by 25.4% in the third quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock valued at $47,000 after buying an additional 57 shares in the last quarter. Finally, Teachers Insurance & Annuity Association of America acquired a new position in Alphabet during the 3rd quarter worth about $66,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

GOOGL has been the topic of a number of recent research reports. Wolfe Research boosted their price target on shares of Alphabet from $220.00 to $230.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Evercore ISI increased their target price on shares of Alphabet from $200.00 to $205.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. dropped their price target on shares of Alphabet from $232.00 to $220.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. Phillip Securities upgraded Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. Finally, JMP Securities reissued a “market perform” rating on shares of Alphabet in a research note on Wednesday, February 5th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and an average price target of $210.62.

Alphabet Stock Down 0.8 %

Shares of Alphabet stock opened at $183.77 on Wednesday. The company has a market cap of $2.25 trillion, a P/E ratio of 22.83, a PEG ratio of 1.39 and a beta of 0.99. Alphabet Inc. has a one year low of $130.66 and a one year high of $207.05. The firm has a fifty day moving average of $193.05 and a two-hundred day moving average of $175.30. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.95 and a current ratio of 1.84.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, topping 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%. On average, analysts forecast that Alphabet Inc. will post 8.91 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date is Monday, March 10th. Alphabet’s dividend payout ratio is presently 9.94%.

Insiders Place Their Bets

In related news, CAO Amie Thuener O’toole sold 1,367 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $170.41, for a total value of $232,950.47. Following the completion of the transaction, the chief accounting officer now directly owns 23,515 shares of the company’s stock, valued at $4,007,191.15. This trade represents a 5.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider John Kent Walker sold 16,820 shares of the business’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $192.62, for a total value of $3,239,868.40. Following the sale, the insider now owns 43,981 shares in the company, valued at approximately $8,471,620.22. The trade was a 27.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 67,029 shares of company stock worth $12,625,003. 11.55% of the stock is owned by corporate 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.