Kingsview Wealth Management LLC Grows Position in Alphabet Inc. (NASDAQ:GOOGL)

Kingsview Wealth Management LLC raised its position in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 1,805.2% during the third quarter, HoldingsChannel.com reports. The firm owned 74,150 shares of the information services provider’s stock after buying an additional 70,258 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Alphabet were worth $7,092,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Willow Creek Wealth Management Inc. raised its holdings in shares of Alphabet by 1,926.9% during the 3rd quarter. Willow Creek Wealth Management Inc. now owns 18,546 shares of the information services provider’s stock valued at $1,774,000 after buying an additional 17,631 shares during the period. Louisiana State Employees Retirement System purchased a new stake in shares of Alphabet during the 3rd quarter valued at about $55,305,000. Griffin Asset Management Inc. raised its holdings in shares of Alphabet by 1,900.0% during the 3rd quarter. Griffin Asset Management Inc. now owns 52,240 shares of the information services provider’s stock valued at $4,997,000 after buying an additional 49,628 shares during the period. Bridgewater Advisors Inc. raised its holdings in shares of Alphabet by 3,005.0% during the 3rd quarter. Bridgewater Advisors Inc. now owns 67,503 shares of the information services provider’s stock valued at $6,457,000 after buying an additional 65,329 shares during the period. Finally, Adell Harriman & Carpenter Inc. raised its holdings in shares of Alphabet by 1,915.2% during the 3rd quarter. Adell Harriman & Carpenter Inc. now owns 129,797 shares of the information services provider’s stock valued at $12,415,000 after buying an additional 123,356 shares during the period. 34.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director Ann Mather sold 380 shares of Alphabet stock in a transaction on Tuesday, December 27th. The stock was sold at an average price of $89.24, for a total transaction of $33,911.20. Following the sale, the director now owns 11,300 shares of the company’s stock, valued at approximately $1,008,412. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CAO Amie Thuener O’toole sold 855 shares of the business’s stock in a transaction on Wednesday, January 4th. The stock was sold at an average price of $91.15, for a total value of $77,933.25. Following the sale, the chief accounting officer now owns 25,122 shares of the company’s stock, valued at approximately $2,289,870.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ann Mather sold 380 shares of the business’s stock in a transaction on Tuesday, December 27th. The stock was sold at an average price of $89.24, for a total value of $33,911.20. Following the completion of the sale, the director now directly owns 11,300 shares in the company, valued at approximately $1,008,412. The disclosure for this sale can be found here. Insiders have sold 36,745 shares of company stock valued at $3,424,078 in the last quarter. Corporate insiders own 11.44% of the company’s stock.

Alphabet Trading Up 3.1 %

NASDAQ:GOOGL opened at $93.97 on Wednesday. The business has a 50 day simple moving average of $94.35 and a 200 day simple moving average of $96.30. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.38 and a quick ratio of 2.34. The firm has a market capitalization of $1.20 trillion, a P/E ratio of 20.65, a P/E/G ratio of 1.25 and a beta of 1.09. Alphabet Inc. has a 12-month low of $83.34 and a 12-month high of $143.79.

Alphabet (NASDAQ:GOOGL – Get Rating) last announced its earnings results on Thursday, February 2nd. The information services provider reported $1.05 earnings per share for the quarter, missing the consensus estimate of $1.14 by ($0.09). The business had revenue of $76.05 billion for the quarter, compared to the consensus estimate of $63.15 billion. Alphabet had a net margin of 21.20% and a return on equity of 23.54%. During the same period in the previous year, the firm earned $1.53 EPS. Equities research analysts predict that Alphabet Inc. will post 5.12 EPS for the current year.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of several analyst reports. Morgan Stanley raised their target price on Alphabet from $125.00 to $135.00 and gave the company an “overweight” rating in a report on Friday, February 3rd. Roth Capital reiterated a “buy” rating on shares of Alphabet in a report on Friday, February 3rd. Truist Financial dropped their target price on Alphabet from $130.00 to $120.00 and set a “buy” rating on the stock in a report on Friday, February 3rd. MKM Partners raised their price objective on Alphabet from $120.00 to $126.00 in a research note on Friday, February 3rd. Finally, KeyCorp lowered their price objective on Alphabet from $118.00 to $117.00 and set an “overweight” rating for the company in a research note on Monday, January 30th. Five investment analysts have rated the stock with a hold rating, thirty-three have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $132.32.

About Alphabet

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Alphabet, Inc engages in the business of delivering online advertising, cloud-based solutions that provide enterprise customers with infrastructure and platform services, the provision of communication and collaboration tools, and sales of other products and services such as apps and in-app purchases, hardware, and subscription-based products.