Kingsview Wealth Management LLC Has $19.43 Million Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Kingsview Wealth Management LLC lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 15.7% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 117,134 shares of the information services provider’s stock after buying an additional 15,901 shares during the period. Kingsview Wealth Management LLC’s holdings in Alphabet were worth $19,427,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Cerity Partners LLC boosted its stake in Alphabet by 14.1% during the third quarter. Cerity Partners LLC now owns 2,776,590 shares of the information services provider’s stock worth $460,540,000 after acquiring an additional 343,287 shares in the last quarter. Optivise Advisory Services LLC acquired a new position in shares of Alphabet during the third quarter valued at about $839,000. Leelyn Smith LLC boosted its position in shares of Alphabet by 3.6% during the 3rd quarter. Leelyn Smith LLC now owns 40,499 shares of the information services provider’s stock worth $6,717,000 after purchasing an additional 1,417 shares in the last quarter. Camden National Bank grew its stake in shares of Alphabet by 295.2% in the 3rd quarter. Camden National Bank now owns 38,844 shares of the information services provider’s stock valued at $6,442,000 after buying an additional 29,016 shares during the period. Finally, Montrusco Bolton Investments Inc. increased its position in Alphabet by 6.1% in the 3rd quarter. Montrusco Bolton Investments Inc. now owns 3,366,312 shares of the information services provider’s stock valued at $545,458,000 after buying an additional 193,968 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of several recent research reports. Tigress Financial increased their price target on Alphabet from $210.00 to $220.00 and gave the stock a “strong-buy” rating in a report on Thursday, September 26th. Wells Fargo & Company increased their target price on Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. DA Davidson initiated coverage on shares of Alphabet in a research note on Tuesday, September 10th. They set a “neutral” rating and a $170.00 price target for the company. Morgan Stanley raised their price objective on shares of Alphabet from $190.00 to $205.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Finally, Scotiabank raised shares of Alphabet to a “strong-buy” rating in a research report on Friday, October 11th. Seven analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $205.90.

Alphabet Trading Up 1.2 %

Shares of Alphabet stock opened at $174.71 on Friday. The stock has a market capitalization of $2.14 trillion, a P/E ratio of 23.17, a P/E/G ratio of 1.21 and a beta of 1.01. Alphabet Inc. has a 52-week low of $129.68 and a 52-week high of $191.75. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The stock’s 50-day simple moving average is $169.30 and its 200 day simple moving average is $170.31.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.29. The company had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same quarter in the previous year, the firm posted $1.55 earnings per share. As a group, research analysts anticipate that Alphabet Inc. will post 8.01 EPS for the current year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date is Monday, December 9th. Alphabet’s payout ratio is currently 10.61%.

Insider Activity

In related news, Director Frances Arnold sold 441 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $171.06, for a total transaction of $75,437.46. Following the completion of the transaction, the director now owns 16,490 shares of the company’s stock, valued at approximately $2,820,779.40. The trade was a 2.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 2,835 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total transaction of $429,587.55. Following the sale, the chief accounting officer now directly owns 29,182 shares in the company, valued at $4,421,948.46. This trade represents a 8.85 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 163,624 shares of company stock worth $27,803,730. 11.55% of the stock is owned by corporate insiders.

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.