Alphabet Inc. $GOOGL Shares Purchased by Kingswood Wealth Advisors LLC

Kingswood Wealth Advisors LLC increased its stake in shares of Alphabet Inc. (NASDAQ:GOOGLFree Report) by 6.1% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 61,123 shares of the information services provider’s stock after purchasing an additional 3,541 shares during the period. Alphabet makes up approximately 0.9% of Kingswood Wealth Advisors LLC’s investment portfolio, making the stock its 16th largest position. Kingswood Wealth Advisors LLC’s holdings in Alphabet were worth $14,859,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GOOGL. Financial Gravity Companies Inc. acquired a new stake in shares of Alphabet in the second quarter valued at $31,000. Corsicana & Co. acquired a new position in Alphabet during the 3rd quarter worth about $54,000. CarsonAllaria Wealth Management Ltd. boosted its holdings in Alphabet by 36.4% during the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider’s stock valued at $44,000 after acquiring an additional 67 shares during the period. Vermillion & White Wealth Management Group LLC grew its position in Alphabet by 37.9% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 324 shares of the information services provider’s stock valued at $57,000 after acquiring an additional 89 shares in the last quarter. Finally, S&T Bank PA increased its stake in Alphabet by 40.2% during the second quarter. S&T Bank PA now owns 345 shares of the information services provider’s stock worth $61,000 after purchasing an additional 99 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet News Roundup

Here are the key news stories impacting Alphabet this week:

Analyst Upgrades and Downgrades

GOOGL has been the subject of several recent research reports. The Goldman Sachs Group reissued a “buy” rating and issued a $375.00 price objective (up previously from $330.00) on shares of Alphabet in a research note on Tuesday, January 13th. JPMorgan Chase & Co. increased their target price on shares of Alphabet from $340.00 to $385.00 and gave the stock an “overweight” rating in a report on Friday, December 12th. New Street Research raised their price target on shares of Alphabet from $275.00 to $295.00 in a research report on Friday, October 24th. UBS Group reaffirmed a “neutral” rating and set a $306.00 price objective (up previously from $255.00) on shares of Alphabet in a research report on Thursday, October 30th. Finally, KeyCorp reiterated an “overweight” rating and issued a $300.00 price objective (up from $265.00) on shares of Alphabet in a research note on Monday, October 27th. Three equities research analysts have rated the stock with a Strong Buy rating, forty-five have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $326.31.

Check Out Our Latest Analysis on Alphabet

Insider Activity at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 2,778 shares of the stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $312.30, for a total value of $867,569.40. Following the transaction, the chief accounting officer directly owned 8,962 shares in the company, valued at $2,798,832.60. This represents a 23.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider John Kent Walker sold 17,829 shares of the firm’s stock in a transaction that occurred on Tuesday, December 30th. The stock was sold at an average price of $314.89, for a total transaction of $5,614,173.81. Following the sale, the insider directly owned 42,972 shares in the company, valued at approximately $13,531,453.08. The trade was a 29.32% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 189,909 shares of company stock valued at $57,927,282 over the last three months. 11.55% of the stock is owned by corporate insiders.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $330.00 on Tuesday. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $340.49. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.75 and a quick ratio of 1.75. The firm has a market capitalization of $3.98 trillion, a PE ratio of 32.54, a price-to-earnings-growth ratio of 1.82 and a beta of 1.08. The business’s fifty day moving average price is $312.13 and its 200 day moving average price is $256.45.

Alphabet (NASDAQ:GOOGLGet Free Report) last released its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.58. Alphabet had a return on equity of 35.00% and a net margin of 32.23%.The business had revenue of $102.35 billion during the quarter, compared to analysts’ expectations of $99.90 billion. On average, sell-side analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Profile

(Free Report)

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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