Alphabet Inc. (NASDAQ:GOOG) Position Boosted by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC raised its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 84,888 shares of the information services provider’s stock after acquiring an additional 898 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Alphabet were worth $16,166,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Exchange Traded Concepts LLC boosted its position in Alphabet by 42.8% during the third quarter. Exchange Traded Concepts LLC now owns 6,511 shares of the information services provider’s stock worth $1,089,000 after purchasing an additional 1,953 shares during the period. Creative Planning boosted its position in Alphabet by 6.4% during the third quarter. Creative Planning now owns 1,544,297 shares of the information services provider’s stock worth $256,177,000 after purchasing an additional 92,556 shares during the period. BlueSky Wealth Advisors LLC boosted its position in Alphabet by 3.4% during the third quarter. BlueSky Wealth Advisors LLC now owns 30,337 shares of the information services provider’s stock worth $5,072,000 after purchasing an additional 994 shares during the period. GenWealth Group Inc. lifted its holdings in shares of Alphabet by 12.4% during the third quarter. GenWealth Group Inc. now owns 1,455 shares of the information services provider’s stock worth $243,000 after buying an additional 160 shares during the last quarter. Finally, Allen Mooney & Barnes Investment Advisors LLC lifted its holdings in shares of Alphabet by 30.2% during the third quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 4,157 shares of the information services provider’s stock worth $695,000 after buying an additional 964 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Alphabet Stock Performance

Shares of NASDAQ:GOOG opened at $187.07 on Wednesday. The business’s fifty day moving average price is $193.42 and its two-hundred day moving average price is $176.27. Alphabet Inc. has a fifty-two week low of $131.55 and a fifty-two week high of $208.70. The stock has a market capitalization of $2.29 trillion, a price-to-earnings ratio of 23.24, a price-to-earnings-growth ratio of 1.39 and a beta of 1.00. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.95.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, beating analysts’ consensus estimates 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, analysts predict that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders 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 dividend yield of 0.43%. The ex-dividend date is Monday, March 10th. Alphabet’s payout ratio is presently 9.94%.

Analyst Ratings Changes

A number of research analysts have recently commented on GOOG shares. Phillip Securities upgraded Alphabet to a “strong-buy” rating in a report on Friday, November 1st. Barclays upped their price target on Alphabet from $200.00 to $220.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Citigroup upped their price target on Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Jefferies Financial Group upped their price target on Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, UBS Group upped their target price on Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Six analysts have rated the stock with a hold rating, twelve have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and an average target price of $209.13.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $176.67, for a total transaction of $3,975,075.00. Following the sale, the chief executive officer now owns 2,061,806 shares in the company, valued at approximately $364,259,266.02. This represents a 1.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 1,367 shares of the stock in a transaction 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 sale, the chief accounting officer now owns 23,515 shares in the company, valued at $4,007,191.15. The trade was a 5.49 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 89,529 shares of company stock worth $16,600,078. Insiders own 12.99% of the company’s stock.

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.