Kingsview Wealth Management LLC Purchases 898 Shares of Alphabet Inc. (NASDAQ:GOOG)

Kingsview Wealth Management LLC boosted its position in Alphabet Inc. (NASDAQ:GOOG) by 1.1% during the 4th quarter, Holdings Channel.com reports. The fund owned 84,888 shares of the information services provider’s stock after buying 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.

Several other hedge funds have also added to or reduced their stakes in GOOG. M&G PLC acquired a new position in Alphabet in the third quarter valued at about $2,240,000. GPS Wealth Strategies Group LLC lifted its stake in Alphabet by 6.8% in the fourth quarter. GPS Wealth Strategies Group LLC now owns 16,248 shares of the information services provider’s stock valued at $3,094,000 after buying an additional 1,041 shares during the period. Coldstream Capital Management Inc. lifted its stake in Alphabet by 14.4% in the third quarter. Coldstream Capital Management Inc. now owns 116,776 shares of the information services provider’s stock valued at $19,642,000 after buying an additional 14,738 shares during the period. Metis Global Partners LLC lifted its stake in Alphabet by 1.4% in the third quarter. Metis Global Partners LLC now owns 301,980 shares of the information services provider’s stock valued at $50,488,000 after buying an additional 4,292 shares during the period. Finally, Requisite Capital Management LLC acquired a new position in Alphabet in the fourth quarter valued at about $927,000. Institutional investors own 27.26% of the company’s stock.

Alphabet Stock Down 0.6 %

GOOG stock opened at $187.07 on Wednesday. The company has a quick ratio of 1.95, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The business has a 50 day moving average price of $193.42 and a two-hundred day moving average price of $176.27. The company has a market cap of $2.29 trillion, a price-to-earnings ratio of 23.24, a P/E/G ratio of 1.39 and a beta of 1.00. Alphabet Inc. has a twelve month low of $131.55 and a twelve month high of $208.70.

Alphabet (NASDAQ:GOOG) last posted 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%. Analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be paid a $0.20 dividend. The ex-dividend date is Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a yield of 0.43%. Alphabet’s dividend payout ratio is 9.94%.

Insider Buying and Selling at Alphabet

In other news, insider John Kent Walker sold 16,820 shares of Alphabet stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the completion of the transaction, the insider now directly owns 43,981 shares in the company, valued at approximately $8,471,620.22. The trade was a 27.66 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 1,340 shares of Alphabet stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $202.08, for a total value of $270,787.20. Following the transaction, the chief accounting officer now owns 17,848 shares of the company’s stock, valued at $3,606,723.84. This represents a 6.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 89,529 shares of company stock worth $16,600,078 over the last ninety days. 12.99% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on GOOG shares. Pivotal Research increased their target price on Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Seaport Res Ptn raised Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Jefferies Financial Group raised their price target on Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Phillip Securities raised Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. Finally, Barclays raised their price target on Alphabet from $200.00 to $220.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Six research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and an average price target of $209.13.

Alphabet 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.