Alphabet Inc. (NASDAQ:GOOGL) Shares Purchased by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC boosted its holdings in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 1,805.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 74,150 shares of the information services provider’s stock after purchasing an additional 70,258 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Alphabet were worth $7,092,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GOOGL. M.D. Sass Investors Services Inc. lifted its stake in Alphabet by 1,819.6% in the third quarter. M.D. Sass Investors Services Inc. now owns 302,467 shares of the information services provider’s stock valued at $28,931,000 after buying an additional 286,710 shares during the last quarter. Mather Group LLC. lifted its stake in Alphabet by 1,662.0% in the third quarter. Mather Group LLC. now owns 28,685 shares of the information services provider’s stock valued at $2,744,000 after buying an additional 27,057 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. lifted its stake in Alphabet by 1,793.8% in the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 239,040 shares of the information services provider’s stock valued at $22,864,000 after buying an additional 226,418 shares during the last quarter. Meiji Yasuda Life Insurance Co lifted its stake in Alphabet by 2,193.3% in the third quarter. Meiji Yasuda Life Insurance Co now owns 167,297 shares of the information services provider’s stock valued at $16,002,000 after buying an additional 160,002 shares during the last quarter. Finally, MidWestOne Financial Group Inc. lifted its stake in Alphabet by 1,996.4% in the third quarter. MidWestOne Financial Group Inc. now owns 22,893 shares of the information services provider’s stock valued at $2,190,000 after buying an additional 21,801 shares during the last quarter. 34.06% of the stock is owned by institutional investors and hedge funds.

Alphabet Stock Up 3.1 %

Alphabet stock opened at $93.97 on Wednesday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.34 and a current ratio of 2.38. The firm has a market capitalization of $1.20 trillion, a price-to-earnings ratio of 20.65, a price-to-earnings-growth ratio of 1.25 and a beta of 1.09. Alphabet Inc. has a fifty-two week low of $83.34 and a fifty-two week high of $143.79. The stock’s fifty day moving average is $94.35 and its two-hundred day moving average is $96.30.

Alphabet (NASDAQ:GOOGL – Get Rating) last posted its quarterly earnings data on Thursday, February 2nd. The information services provider reported $1.05 EPS for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.09). The company had revenue of $76.05 billion for the quarter, compared to analyst estimates of $63.15 billion. Alphabet had a net margin of 21.20% and a return on equity of 23.54%. During the same period in the previous year, the business earned $1.53 EPS. Analysts predict that Alphabet Inc. will post 5.12 EPS for the current fiscal year.

Insider Activity at Alphabet

In related news, SVP Prabhakar Raghavan sold 22,203 shares of the stock in a transaction on Tuesday, January 3rd. The stock was sold at an average price of $89.75, for a total transaction of $1,992,719.25. Following the sale, the senior vice president now owns 76,579 shares of the company’s stock, valued at $6,872,965.25. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Alphabet news, CAO Amie Thuener O’toole sold 637 shares of the firm’s stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $90.15, for a total value of $57,425.55. Following the sale, the chief accounting officer now directly owns 25,442 shares of the company’s stock, valued at approximately $2,293,596.30. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Prabhakar Raghavan sold 22,203 shares of the firm’s stock in a transaction dated Tuesday, January 3rd. The stock was sold at an average price of $89.75, for a total value of $1,992,719.25. Following the completion of the sale, the senior vice president now directly owns 76,579 shares in the company, valued at $6,872,965.25. The disclosure for this sale can be found here. Insiders have sold a total of 36,745 shares of company stock valued at $3,424,078 over the last quarter. Insiders own 11.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on GOOGL shares. Credit Suisse Group reduced their price objective on Alphabet from $145.00 to $136.00 and set an “outperform” rating for the company in a research note on Friday, February 3rd. JMP Securities reiterated a “market outperform” rating and issued a $132.00 price objective on shares of Alphabet in a research note on Friday, February 3rd. MKM Partners boosted their price objective on Alphabet from $120.00 to $126.00 in a research note on Friday, February 3rd. Barclays upped their price target on Alphabet from $150.00 to $160.00 and gave the stock an “overweight” rating in a research note on Friday, February 3rd. Finally, Bank of America upped their price target on Alphabet from $116.00 to $119.00 and gave the stock a “buy” rating in a research note on Tuesday, January 31st. Five investment analysts have rated the stock with a hold rating, thirty-three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and an average target price of $132.32.

Alphabet Profile

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Alphabet, Inc engages in the business of delivering online advertising, cloud-based solutions that provide enterprise customers with infrastructure and platform services, the provision of communication and collaboration tools, and sales of other products and services such as apps and in-app purchases, hardware, and subscription-based products.