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

KFG Wealth Management LLC decreased its position in Alphabet Inc. (NASDAQ:GOOGL) by 12.4% in the 1st quarter, HoldingsChannel reports. The firm owned 2,543 shares of the information services provider’s stock after selling 359 shares during the period. KFG Wealth Management LLC’s holdings in Alphabet were worth $393,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wealth Group Ltd. raised its stake in Alphabet by 5.2% during the fourth quarter. Wealth Group Ltd. now owns 1,582 shares of the information services provider’s stock worth $299,000 after purchasing an additional 78 shares during the period. Capital & Planning LLC grew its stake in shares of Alphabet by 34.3% during the 4th quarter. Capital & Planning LLC now owns 4,383 shares of the information services provider’s stock valued at $830,000 after buying an additional 1,119 shares during the period. Eagle Capital Management LLC increased its holdings in shares of Alphabet by 0.7% during the 4th quarter. Eagle Capital Management LLC now owns 50,132 shares of the information services provider’s stock worth $9,490,000 after buying an additional 371 shares during the last quarter. Brighton Jones LLC raised its position in shares of Alphabet by 3.9% in the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock worth $20,886,000 after buying an additional 4,110 shares during the period. Finally, Union Bancaire Privee UBP SA acquired a new position in Alphabet in the fourth quarter valued at $154,716,000. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on GOOGL. Jefferies Financial Group dropped their price target on Alphabet from $235.00 to $200.00 and set a “buy” rating for the company in a research note on Monday, March 31st. Tigress Financial increased their target price on shares of Alphabet from $220.00 to $240.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, April 30th. Piper Sandler raised their price target on shares of Alphabet from $185.00 to $195.00 and gave the company an “overweight” rating in a report on Friday, April 25th. Roth Mkm reiterated a “buy” rating and set a $220.00 price objective on shares of Alphabet in a research note on Wednesday, March 19th. Finally, Westpark Capital reissued a “buy” rating and issued a $210.00 price objective on shares of Alphabet in a research report on Thursday, May 8th. Ten research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $199.75.

Insiders Place Their Bets

In other news, Director Kavitark Ram Shriram sold 10,500 shares of Alphabet stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $1,837,500.00. Following the completion of the transaction, the director now directly owns 261,966 shares of the company’s stock, valued at approximately $45,844,050. The trade was a 3.85% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 600 shares of the business’s stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total transaction of $105,000.00. Following the sale, the director now directly owns 6,813 shares of the company’s stock, valued at approximately $1,192,275. This represents a 8.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 195,770 shares of company stock valued at $32,036,638 in the last quarter. Insiders own 11.64% of the company’s stock.

Alphabet Trading Up 3.3%

GOOGL opened at $173.68 on Friday. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $207.05. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The stock has a market capitalization of $2.11 trillion, a PE ratio of 21.58, a P/E/G ratio of 1.34 and a beta of 1.01. The firm’s fifty day moving average price is $160.14 and its 200 day moving average price is $174.34.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.79. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. The company had revenue of $76.49 billion during the quarter, compared to the consensus estimate of $89.30 billion. During the same quarter in the previous year, the firm earned $1.89 EPS. As a group, research analysts expect that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be paid a dividend of $0.21 per share. 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 a boost from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s dividend payout ratio is presently 9.36%.

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.