Kingswood Wealth Advisors LLC Sells 56,017 Shares of Alphabet Inc. (NASDAQ:GOOG)

Kingswood Wealth Advisors LLC trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 59.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,819 shares of the information services provider's stock after selling 56,017 shares during the period. Alphabet comprises about 0.5% of Kingswood Wealth Advisors LLC's portfolio, making the stock its 28th largest position. Kingswood Wealth Advisors LLC's holdings in Alphabet were worth $7,202,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. FMR LLC increased its holdings in shares of Alphabet by 5.2% during the third quarter. FMR LLC now owns 114,802,133 shares of the information services provider's stock valued at $19,193,768,000 after acquiring an additional 5,655,022 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Alphabet by 10.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,334,082 shares of the information services provider's stock worth $5,573,125,000 after buying an additional 3,113,395 shares during the period. Assenagon Asset Management S.A. lifted its holdings in shares of Alphabet by 65.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 6,294,332 shares of the information services provider's stock valued at $1,052,349,000 after buying an additional 2,500,621 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its position in Alphabet by 182.1% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,526,055 shares of the information services provider's stock valued at $422,331,000 after acquiring an additional 1,630,701 shares in the last quarter. Finally, Jennison Associates LLC boosted its position in Alphabet by 9.1% in the 3rd quarter. Jennison Associates LLC now owns 15,424,324 shares of the information services provider's stock worth $2,578,793,000 after purchasing an additional 1,291,274 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company's stock.

Insider Buying and Selling at Alphabet

In related news, Director John L. Hennessy sold 1,500 shares of the stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $194.22, for a total transaction of $291,330.00. Following the completion of the transaction, the director now owns 23,324 shares in the company, valued at approximately $4,529,987.28. This represents a 6.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Amie Thuener O'toole sold 2,834 shares of the company's stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $194.32, for a total transaction of $550,702.88. Following the completion of the sale, the chief accounting officer now directly owns 17,847 shares in the company, valued at approximately $3,468,029.04. The trade was a 13.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 122,887 shares of company stock worth $22,470,464 over the last ninety days. Corporate insiders own 12.99% of the company's stock.

Alphabet Stock Up 2.6 %

Shares of GOOG traded up $5.08 during mid-day trading on Thursday, hitting $202.26. 7,747,870 shares of the company's stock were exchanged, compared to its average volume of 15,797,256. The stock has a market cap of $2.48 trillion, a price-to-earnings ratio of 26.81, a P/E/G ratio of 1.27 and a beta of 0.99. Alphabet Inc. has a twelve month low of $131.55 and a twelve month high of $203.84. The firm has a fifty day moving average of $189.03 and a two-hundred day moving average of $175.35. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOG - Get Free Report) last released its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The business had revenue of $88.27 billion during the quarter, compared to analysts' expectations of $86.39 billion. During the same quarter last year, the company earned $1.55 earnings per share. The firm's revenue was up 15.1% on a year-over-year basis. On average, sell-side analysts forecast that Alphabet Inc. will post 8.02 earnings per share for the current year.

Analyst Upgrades and Downgrades

GOOG has been the topic of a number of recent analyst reports. Seaport Res Ptn raised shares of Alphabet from a "hold" rating to a "strong-buy" rating in a report on Tuesday, October 29th. JPMorgan Chase & Co. increased their price target on Alphabet from $208.00 to $212.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 30th. Scotiabank raised their price target on shares of Alphabet from $212.00 to $240.00 and gave the company a "sector outperform" rating in a research note on Friday, January 24th. Citizens Jmp downgraded shares of Alphabet from a "strong-buy" rating to a "hold" rating in a research note on Thursday, January 2nd. Finally, UBS Group upped their target price on shares of Alphabet from $187.00 to $192.00 and gave the company a "neutral" rating in a research report on Wednesday, October 30th. Six equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, Alphabet currently has an average rating of "Moderate Buy" and a consensus target price of $205.80.

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.