Kingswood Wealth Advisors LLC Has $7.20 Million Stake in Alphabet Inc. (NASDAQ:GOOG)

Kingswood Wealth Advisors LLC lowered its stake in Alphabet Inc. (NASDAQ:GOOG) by 59.7% in the fourth quarter, according to the company in its most recent disclosure 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 accounts for 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. M&G PLC bought a new stake in shares of Alphabet during the third quarter worth approximately $2,240,000. Coldstream Capital Management Inc. grew its holdings in Alphabet by 14.4% during the 3rd quarter. Coldstream Capital Management Inc. now owns 116,776 shares of the information services provider’s stock worth $19,642,000 after acquiring an additional 14,738 shares during the period. Metis Global Partners LLC raised its position in shares of Alphabet by 1.4% during the 3rd quarter. Metis Global Partners LLC now owns 301,980 shares of the information services provider’s stock valued at $50,488,000 after acquiring an additional 4,292 shares during the last quarter. Requisite Capital Management LLC acquired a new position in shares of Alphabet in the 4th quarter valued at $927,000. Finally, Stevens Capital Management LP grew its stake in shares of Alphabet by 172.9% during the third quarter. Stevens Capital Management LP now owns 91,237 shares of the information services provider’s stock worth $15,254,000 after purchasing an additional 57,810 shares during the period. Institutional investors own 27.26% of the company’s stock.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O’toole sold 2,834 shares of the business’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 transaction, the chief accounting officer now directly owns 17,847 shares in the company, valued at $3,468,029.04. The trade was a 13.70 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider John Kent Walker sold 16,820 shares of the firm’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the completion of the sale, the insider now owns 43,981 shares of the company’s stock, valued at $8,471,620.22. This trade represents a 27.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 122,887 shares of company stock worth $22,470,464 over the last ninety days. 12.99% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on GOOG. Oppenheimer increased their target price on Alphabet from $185.00 to $215.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Jefferies Financial Group increased their price target on shares of Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Canaccord Genuity Group upped their target price on shares of Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Pivotal Research increased their target price on shares of Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, Wells Fargo & Company boosted their price target on shares of Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Six research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $205.13.

Alphabet Stock Up 0.1 %

Alphabet stock opened at $197.18 on Thursday. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 1-year low of $131.55 and a 1-year high of $203.84. The company has a fifty day simple moving average of $188.64 and a 200 day simple moving average of $175.20. The company has a market cap of $2.41 trillion, a P/E ratio of 26.15, a price-to-earnings-growth ratio of 1.27 and a beta of 0.99.

Alphabet (NASDAQ:GOOG) last released its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The business had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $86.39 billion. During the same quarter in the previous year, the business earned $1.55 earnings per share. Alphabet’s quarterly revenue was up 15.1% on a year-over-year basis. Research analysts anticipate that Alphabet Inc. will post 8.02 earnings per share for the current fiscal year.

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.