King Wealth Management Group lifted its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 6.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 64,976 shares of the information services provider's stock after buying an additional 4,187 shares during the period. Alphabet makes up about 1.8% of King Wealth Management Group's investment portfolio, making the stock its 15th biggest position. King Wealth Management Group's holdings in Alphabet were worth $12,300,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Pettinga Financial Advisors LLC increased its stake in Alphabet by 10.1% in the 3rd quarter. Pettinga Financial Advisors LLC now owns 2,186 shares of the information services provider's stock worth $363,000 after acquiring an additional 201 shares during the last quarter. Impax Asset Management Group plc increased its holdings in shares of Alphabet by 6.8% in the 3rd quarter. Impax Asset Management Group plc now owns 728,575 shares of the information services provider's stock worth $120,834,000 after buying an additional 46,677 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of Alphabet by 3.1% in the 3rd quarter. Principal Financial Group Inc. now owns 11,283,594 shares of the information services provider's stock valued at $1,871,384,000 after purchasing an additional 337,031 shares during the last quarter. TRU Independence Asset Management 2 LLC purchased a new stake in Alphabet in the 3rd quarter worth about $820,000. Finally, GDS Wealth Management grew its stake in shares of Alphabet by 3.0% during the third quarter. GDS Wealth Management now owns 114,056 shares of the information services provider's stock valued at $18,916,000 after buying an additional 3,354 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
GOOGL has been the subject of several research analyst reports. The Goldman Sachs Group reiterated a "buy" rating and set a $210.00 target price on shares of Alphabet in a research report on Thursday, December 12th. Wells Fargo & Company upped their price objective on Alphabet from $187.00 to $190.00 and gave the stock an "equal weight" rating in a research note on Monday, January 13th. Rosenblatt Securities reiterated a "neutral" rating and issued a $205.00 target price on shares of Alphabet in a report on Wednesday, March 19th. Robert W. Baird restated an "outperform" rating and issued a $205.00 price target on shares of Alphabet in a report on Tuesday, December 10th. Finally, Wolfe Research raised their price objective on Alphabet from $220.00 to $230.00 and gave the stock an "outperform" rating in a research report on Friday, January 3rd. Ten research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $210.59.
Get Our Latest Research Report on GOOGL
Insider Activity
In related news, insider John Kent Walker sold 16,820 shares of the company's stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $192.62, for a total value of $3,239,868.40. Following the sale, the insider now owns 43,981 shares in the company, valued at $8,471,620.22. This represents a 27.66 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Ruth Porat sold 17,690 shares of the business's stock in a transaction on Friday, February 21st. The stock was sold at an average price of $183.48, for a total value of $3,245,761.20. Following the sale, the insider now owns 1,449,286 shares in the company, valued at approximately $265,914,995.28. The trade was a 1.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 104,812 shares of company stock worth $19,336,979 in the last 90 days. 11.55% of the stock is currently owned by corporate insiders.
Alphabet Stock Performance
Shares of GOOGL stock traded down $7.91 during midday trading on Friday, hitting $154.33. The company had a trading volume of 48,610,349 shares, compared to its average volume of 27,276,841. Alphabet Inc. has a 52-week low of $147.22 and a 52-week high of $207.05. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The company's 50 day simple moving average is $179.66 and its 200 day simple moving average is $176.72. The stock has a market cap of $1.88 trillion, a price-to-earnings ratio of 19.17, a PEG ratio of 1.34 and a beta of 1.02.
Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping analysts' consensus estimates of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. Research analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.
Alphabet Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date of this dividend was Monday, March 10th. Alphabet's dividend payout ratio (DPR) is currently 9.94%.
Alphabet Company Profile
(
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.
Read More
Before you consider Alphabet, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Alphabet wasn't on the list.
While Alphabet currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know? MarketBeat just compiled its list of the twelve stocks that corporate insiders are abandoning. Complete the form below to see which companies made the list.
Get This Free Report
