KFG Wealth Management LLC cut its stake in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 25.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,902 shares of the information services provider’s stock after selling 979 shares during the quarter. KFG Wealth Management LLC’s holdings in Alphabet were worth $549,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Regency Capital Management Inc. DE lifted its holdings in shares of Alphabet by 2.9% during the 4th quarter. Regency Capital Management Inc. DE now owns 5,917 shares of the information services provider’s stock valued at $1,120,000 after purchasing an additional 167 shares in the last quarter. Blue Square Asset Management LLC lifted its stake in Alphabet by 2.2% in the fourth quarter. Blue Square Asset Management LLC now owns 23,909 shares of the information services provider’s stock valued at $4,526,000 after buying an additional 506 shares in the last quarter. First Citizens Bank & Trust Co. boosted its holdings in shares of Alphabet by 3.2% in the fourth quarter. First Citizens Bank & Trust Co. now owns 177,136 shares of the information services provider’s stock valued at $33,532,000 after buying an additional 5,526 shares during the period. Archford Capital Strategies LLC increased its position in shares of Alphabet by 2.1% during the fourth quarter. Archford Capital Strategies LLC now owns 34,741 shares of the information services provider’s stock worth $6,576,000 after acquiring an additional 700 shares in the last quarter. Finally, Precedent Wealth Partners LLC raised its holdings in shares of Alphabet by 28.0% during the fourth quarter. Precedent Wealth Partners LLC now owns 4,417 shares of the information services provider’s stock worth $836,000 after acquiring an additional 965 shares during the period. 40.03% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
In other news, Director Frances Arnold sold 441 shares of Alphabet stock in a transaction on Monday, November 4th. The stock was sold at an average price of $171.06, for a total value of $75,437.46. Following the transaction, the director now owns 16,490 shares in the company, valued at approximately $2,820,779.40. This trade represents a 2.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,834 shares of the business’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $194.32, for a total value of $550,702.88. Following the transaction, the chief accounting officer now directly owns 17,847 shares of the company’s stock, valued at $3,468,029.04. This trade represents a 13.70 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 121,630 shares of company stock worth $22,258,133. Company insiders own 11.55% of the company’s stock.
Alphabet Price Performance
Wall Street Analysts Forecast Growth
A number of research firms have issued reports on GOOGL. Royal Bank of Canada increased their target price on Alphabet from $204.00 to $210.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Truist Financial increased their price objective on Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Stifel Nicolaus upped their price target on Alphabet from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Robert W. Baird reaffirmed an “outperform” rating and set a $205.00 price target on shares of Alphabet in a research note on Tuesday, December 10th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Alphabet from $212.00 to $232.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Nine investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and an average price target of $211.00.
Check Out Our Latest Stock Analysis on Alphabet
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.
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