KFG Wealth Management LLC Reduces Position in Alphabet Inc. (NASDAQ:GOOG)

KFG Wealth Management LLC lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 6.1% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,164 shares of the information services provider’s stock after selling 204 shares during the quarter. KFG Wealth Management LLC’s holdings in Alphabet were worth $494,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of GOOG. LSV Asset Management purchased a new position in Alphabet in the 4th quarter valued at approximately $27,000. WealthTrak Capital Management LLC bought a new position in shares of Alphabet in the fourth quarter worth $38,000. Mountain Hill Investment Partners Corp. purchased a new position in shares of Alphabet in the fourth quarter valued at $39,000. Noble Wealth Management PBC purchased a new position in shares of Alphabet in the fourth quarter valued at $43,000. Finally, FPC Investment Advisory Inc. raised its stake in shares of Alphabet by 287.9% during the 4th quarter. FPC Investment Advisory Inc. now owns 225 shares of the information services provider’s stock valued at $46,000 after purchasing an additional 167 shares during the period. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Stock Performance

Alphabet stock opened at $174.92 on Friday. The firm has a fifty day simple moving average of $161.88 and a two-hundred day simple moving average of $176.05. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $208.70. The company has a market capitalization of $2.12 trillion, a PE ratio of 21.73, a P/E/G ratio of 1.34 and a beta of 1.01.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping the consensus estimate of $2.02 by $0.79. The firm had revenue of $90.23 billion for the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The company’s quarterly revenue was up 12.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.89 earnings per share. Research analysts expect that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be given a $0.21 dividend. The ex-dividend date of this dividend is Monday, June 9th. This represents a $0.84 annualized dividend and a yield of 0.48%. This is an increase from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s payout ratio is presently 9.36%.

Wall Street Analyst Weigh In

Several research analysts have commented on GOOG shares. Westpark Capital restated a “buy” rating and issued a $210.00 target price on shares of Alphabet in a research note on Friday, April 25th. JPMorgan Chase & Co. increased their price target on shares of Alphabet from $180.00 to $195.00 and gave the stock an “overweight” rating in a report on Friday, April 25th. Susquehanna reaffirmed a “positive” rating on shares of Alphabet in a research note on Friday, May 2nd. Needham & Company LLC cut shares of Alphabet from a “buy” rating to a “cautious” rating in a research note on Friday, May 2nd. Finally, Scotiabank cut their price target on shares of Alphabet from $232.00 to $200.00 and set a “sector outperform” rating for the company in a report on Monday, April 21st. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have issued a buy rating and five have given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $204.88.

Insider Buying and Selling at Alphabet

In related news, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $165.53, for a total value of $33,106.00. Following the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Amie Thuener O’toole sold 673 shares of the company’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $155.33, for a total transaction of $104,537.09. Following the sale, the chief accounting officer now owns 15,303 shares of the company’s stock, valued at $2,377,014.99. This represents a 4.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 195,770 shares of company stock worth $32,036,638. 12.99% of the stock is currently owned by insiders.

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.