Kingswood Wealth Advisors LLC Buys 19,511 Shares of Alphabet Inc. (NASDAQ:GOOG)

Kingswood Wealth Advisors LLC boosted its position in shares of Alphabet Inc. (NASDAQ:GOOGFree Report) by 32.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 80,008 shares of the information services provider’s stock after purchasing an additional 19,511 shares during the period. Alphabet comprises 1.3% of Kingswood Wealth Advisors LLC’s holdings, making the stock its 9th largest position. Kingswood Wealth Advisors LLC’s holdings in Alphabet were worth $11,276,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Moneta Group Investment Advisors LLC grew its stake in shares of Alphabet by 61,587.1% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 130,046,253 shares of the information services provider’s stock worth $11,539,004,000 after buying an additional 129,835,437 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Alphabet by 1,807.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 57,069,444 shares of the information services provider’s stock valued at $5,487,226,000 after buying an additional 54,077,519 shares during the last quarter. Norges Bank purchased a new stake in Alphabet in the 4th quarter valued at about $3,059,614,000. Morgan Stanley increased its stake in shares of Alphabet by 37.6% during the 4th quarter. Morgan Stanley now owns 71,779,112 shares of the information services provider’s stock worth $6,368,961,000 after purchasing an additional 19,612,974 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in Alphabet by 11.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 95,941,129 shares of the information services provider’s stock worth $12,649,838,000 after buying an additional 9,703,425 shares during the period. Institutional investors own 27.26% of the company’s stock.

Analyst Ratings Changes

GOOG has been the subject of a number of research analyst reports. Susquehanna lifted their price objective on shares of Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a report on Wednesday, January 31st. Raymond James boosted their price target on shares of Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a research report on Wednesday, January 24th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Alphabet currently has a consensus rating of “Buy” and a consensus target price of $146.33.

Read Our Latest Stock Report on GOOG

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $148.78, for a total transaction of $3,347,550.00. Following the transaction, the chief executive officer now owns 2,310,191 shares of the company’s stock, valued at approximately $343,710,216.98. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $148.78, for a total transaction of $3,347,550.00. Following the sale, the chief executive officer now directly owns 2,310,191 shares in the company, valued at $343,710,216.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Ruth Porat sold 48,077 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $137.22, for a total transaction of $6,597,125.94. Following the sale, the chief financial officer now owns 1,777,106 shares in the company, valued at $243,854,485.32. The disclosure for this sale can be found here. Insiders sold 279,659 shares of company stock valued at $39,460,310 over the last 90 days. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Stock Down 0.4 %

NASDAQ:GOOG opened at $151.15 on Tuesday. Alphabet Inc. has a fifty-two week low of $100.28 and a fifty-two week high of $155.20. The stock has a market capitalization of $1.88 trillion, a P/E ratio of 26.06, a P/E/G ratio of 1.40 and a beta of 1.05. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.10. The company’s 50-day simple moving average is $144.27 and its 200-day simple moving average is $139.09.

Alphabet (NASDAQ:GOOGGet Free Report) last posted its earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.04. The firm had revenue of $86.31 billion during the quarter, compared to analyst estimates of $85.28 billion. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The business’s quarterly revenue was up 13.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.05 EPS. On average, equities analysts anticipate that Alphabet Inc. will post 6.77 earnings per share for the current fiscal year.

About Alphabet

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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