Alphabet Inc. $GOOGL Shares Sold by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC cut its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 138,106 shares of the information services provider’s stock after selling 1,974 shares during the period. Kingsview Wealth Management LLC’s holdings in Alphabet were worth $24,338,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in GOOGL. Guardian Wealth Management Inc. lifted its holdings in Alphabet by 242.9% in the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock valued at $26,000 after acquiring an additional 119 shares during the last quarter. IMA Advisory Services Inc. purchased a new stake in Alphabet in the first quarter valued at $28,000. NBZ Investment Advisors LLC lifted its stake in shares of Alphabet by 85.7% in the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock valued at $30,000 after purchasing an additional 90 shares during the last quarter. CarsonAllaria Wealth Management Ltd. increased its position in shares of Alphabet by 36.4% during the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider’s stock worth $44,000 after purchasing an additional 67 shares during the last quarter. Finally, MJT & Associates Financial Advisory Group Inc. acquired a new stake in shares of Alphabet during the 1st quarter worth about $50,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Activity

In related news, insider John Kent Walker sold 17,816 shares of the firm’s stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $247.42, for a total value of $4,408,034.72. Following the sale, the insider owned 42,985 shares of the company’s stock, valued at $10,635,348.70. This trade represents a 29.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,778 shares of Alphabet stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $250.05, for a total transaction of $694,638.90. Following the completion of the transaction, the chief accounting officer owned 14,516 shares of the company’s stock, valued at $3,629,725.80. This represents a 16.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 225,072 shares of company stock worth $58,074,027. 11.64% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on GOOGL shares. Morgan Stanley upped their target price on shares of Alphabet from $270.00 to $330.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. CICC Research upped their price objective on shares of Alphabet from $240.00 to $303.00 and gave the stock an “outperform” rating in a report on Friday, October 31st. UBS Group reiterated a “neutral” rating and issued a $306.00 target price (up previously from $255.00) on shares of Alphabet in a report on Thursday, October 30th. Sanford C. Bernstein upped their price target on Alphabet from $260.00 to $305.00 and gave the stock a “market perform” rating in a research note on Thursday, October 30th. Finally, DZ Bank restated a “buy” rating on shares of Alphabet in a research report on Thursday, November 20th. Four investment analysts have rated the stock with a Strong Buy rating, forty-one have given a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and an average target price of $307.84.

Alphabet Stock Performance

Shares of GOOGL stock opened at $319.95 on Friday. The firm has a 50 day moving average of $267.94 and a two-hundred day moving average of $217.64. The stock has a market capitalization of $3.86 trillion, a PE ratio of 31.55, a P/E/G ratio of 1.86 and a beta of 1.05. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $328.83.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.29 by $0.58. The business had revenue of $102.35 billion for the quarter, compared to analysts’ expectations of $99.90 billion. Alphabet had a return on equity of 36.08% and a net margin of 32.23%. On average, research analysts predict that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 8th will be given a $0.21 dividend. The ex-dividend date of this dividend is Monday, December 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is currently 8.28%.

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.