King Wealth Management Group Boosts Position in Alphabet Inc. (NASDAQ:GOOGL)

King Wealth Management Group raised its stake in Alphabet Inc. (NASDAQ:GOOGL) by 6.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 64,976 shares of the information services provider’s stock after purchasing an additional 4,187 shares during the period. Alphabet accounts for about 1.8% of King Wealth Management Group’s holdings, making the stock its 15th biggest position. King Wealth Management Group’s holdings in Alphabet were worth $12,300,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Pettinga Financial Advisors LLC grew its stake in Alphabet by 10.1% during the 3rd quarter. Pettinga Financial Advisors LLC now owns 2,186 shares of the information services provider’s stock worth $363,000 after buying an additional 201 shares during the last quarter. Impax Asset Management Group plc boosted its holdings in shares of Alphabet by 6.8% in the third quarter. Impax Asset Management Group plc now owns 728,575 shares of the information services provider’s stock valued at $120,834,000 after acquiring an additional 46,677 shares during the period. Principal Financial Group Inc. grew its position in shares of Alphabet by 3.1% during the third quarter. Principal Financial Group Inc. now owns 11,283,594 shares of the information services provider’s stock worth $1,871,384,000 after acquiring 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 valued at $820,000. Finally, GDS Wealth Management boosted its stake in Alphabet by 3.0% during the 3rd quarter. GDS Wealth Management now owns 114,056 shares of the information services provider’s stock worth $18,916,000 after purchasing an additional 3,354 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Activity at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 1,340 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $202.08, for a total value of $270,787.20. Following the transaction, the chief accounting officer now directly owns 17,848 shares of the company’s stock, valued at $3,606,723.84. This trade represents a 6.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John L. Hennessy sold 200 shares of the company’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $165.53, for a total value of $33,106.00. Following the completion of the sale, the director now directly owns 7,813 shares of the company’s stock, valued at $1,293,285.89. The trade was a 2.50 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 93,048 shares of company stock worth $17,374,274. 11.55% of the stock is currently owned by corporate insiders.

Alphabet Price Performance

Shares of Alphabet stock opened at $170.56 on Wednesday. The business’s fifty day moving average price is $181.72 and its 200 day moving average price is $176.86. Alphabet Inc. has a twelve month low of $147.22 and a twelve month high of $207.05. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $2.08 trillion, a P/E ratio of 21.19, a PEG ratio of 1.34 and a beta of 1.02.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. As a group, research analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date of this dividend was Monday, March 10th. Alphabet’s dividend payout ratio is presently 9.94%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $205.00 target price on shares of Alphabet in a report on Wednesday, March 19th. Robert W. Baird reaffirmed an “outperform” rating and set a $205.00 price objective on shares of Alphabet in a research note on Tuesday, December 10th. JPMorgan Chase & Co. decreased their price objective on Alphabet from $232.00 to $220.00 and set an “overweight” rating for the company in a research report on Wednesday, February 5th. Citigroup dropped their target price on Alphabet from $232.00 to $229.00 and set a “buy” rating on the stock in a report on Wednesday, February 5th. Finally, Citizens Jmp downgraded Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Ten analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $210.59.

Alphabet Company Profile

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.