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

Kingsview Wealth Management LLC raised its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 95,446 shares of the information services provider’s stock after acquiring an additional 1,964 shares during the period. Kingsview Wealth Management LLC’s holdings in Alphabet were worth $13,333,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. DiNuzzo Private Wealth Inc. acquired a new stake in Alphabet during the 4th quarter worth approximately $38,000. Meritage Group LP grew its stake in Alphabet by 1,061.5% during the third quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock worth $40,000 after buying an additional 276 shares during the period. Armor Investment Advisors LLC grew its stake in Alphabet by 31.0% during the fourth quarter. Armor Investment Advisors LLC now owns 338 shares of the information services provider’s stock worth $47,000 after buying an additional 80 shares during the period. IAG Wealth Partners LLC increased its position in shares of Alphabet by 55.9% in the fourth quarter. IAG Wealth Partners LLC now owns 343 shares of the information services provider’s stock worth $48,000 after acquiring an additional 123 shares in the last quarter. Finally, Valued Wealth Advisors LLC purchased a new position in shares of Alphabet in the 4th quarter valued at $55,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

GOOGL has been the subject of several recent research reports. Citigroup increased their price target on Alphabet from $168.00 to $190.00 and gave the company a “buy” rating in a report on Friday, April 26th. Sanford C. Bernstein increased their target price on Alphabet from $165.00 to $180.00 and gave the company a “market perform” rating in a research note on Friday, April 26th. KeyCorp boosted their price target on Alphabet from $165.00 to $175.00 and gave the stock an “overweight” rating in a research report on Monday, April 22nd. Rosenblatt Securities increased their price objective on shares of Alphabet from $172.00 to $182.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Finally, Piper Sandler reissued an “overweight” rating and set a $200.00 target price (up from $160.00) on shares of Alphabet in a research report on Friday, April 26th. Five investment analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus price target of $190.60.

Alphabet Stock Down 0.8 %

GOOGL stock opened at $176.38 on Thursday. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. The firm’s 50-day simple moving average is $159.52 and its 200 day simple moving average is $146.20. The stock has a market cap of $2.18 trillion, a PE ratio of 27.05, a price-to-earnings-growth ratio of 1.36 and a beta of 1.02. Alphabet Inc. has a fifty-two week low of $115.35 and a fifty-two week high of $178.77.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.40. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The company had revenue of $80.54 billion for the quarter, compared to analysts’ expectations of $66.04 billion. During the same quarter in the previous year, the company posted $1.17 earnings per share. As a group, sell-side analysts predict that Alphabet Inc. will post 7.61 EPS for the current year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 10th will be paid a $0.20 dividend. The ex-dividend date is Monday, June 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.45%.

Insider Activity

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $136.49, for a total transaction of $93,086.18. Following the sale, the chief accounting officer now directly owns 28,602 shares in the company, valued at approximately $3,903,886.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $136.49, for a total transaction of $93,086.18. Following the transaction, the chief accounting officer now owns 28,602 shares in the company, valued at $3,903,886.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $173.22, for a total value of $3,897,450.00. Following the transaction, the chief executive officer now owns 2,258,011 shares in the company, valued at $391,132,665.42. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 205,935 shares of company stock valued at $31,178,987. Company insiders own 11.55% of the company’s stock.

About Alphabet

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.