King Wealth Management Group Buys 150 Shares of Alphabet Inc. (NASDAQ:GOOG)

King Wealth Management Group raised its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 6.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,571 shares of the information services provider’s stock after acquiring an additional 150 shares during the period. King Wealth Management Group’s holdings in Alphabet were worth $490,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Fiduciary Advisors Inc. purchased a new position in Alphabet during the 4th quarter valued at $27,000. Weiss Asset Management LP bought a new stake in shares of Alphabet during the third quarter worth $25,000. Safe Harbor Fiduciary LLC purchased a new stake in shares of Alphabet during the third quarter valued at $33,000. Noble Wealth Management PBC purchased a new position in Alphabet in the 4th quarter worth about $43,000. Finally, FPC Investment Advisory Inc. lifted its holdings in 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 buying an additional 167 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on GOOG shares. The Goldman Sachs Group restated a “buy” rating on shares of Alphabet in a research note on Wednesday, February 5th. Scotiabank lifted their target price on Alphabet from $212.00 to $240.00 and gave the company a “sector outperform” rating in a research note on Friday, January 24th. Citizens Jmp cut shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. Needham & Company LLC reissued a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. Finally, Wedbush reiterated an “outperform” rating and set a $220.00 price target on shares of Alphabet in a research note on Thursday, January 30th. One analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $209.13.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O’toole sold 2,834 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $197.55, for a total value of $559,856.70. Following the completion of the sale, the chief accounting officer now directly owns 20,681 shares of the company’s stock, valued at $4,085,531.55. This trade represents a 12.05 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John Kent Walker sold 16,820 shares of the company’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $192.62, for a total value of $3,239,868.40. Following the transaction, the insider now directly owns 43,981 shares in the company, valued at $8,471,620.22. This represents a 27.66 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 95,882 shares of company stock valued at $17,934,130. 12.99% of the stock is owned by company insiders.

Alphabet Stock Performance

NASDAQ GOOG opened at $164.73 on Friday. The firm has a market cap of $2.01 trillion, a P/E ratio of 20.46, a P/E/G ratio of 1.34 and a beta of 1.03. Alphabet Inc. has a 52-week low of $141.13 and a 52-week high of $208.70. The business’s 50-day moving average price is $187.92 and its 200 day moving average price is $177.92. 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 (NASDAQ:GOOG) last posted its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. On average, equities research analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be given a $0.20 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a yield of 0.49%. Alphabet’s dividend payout ratio (DPR) is 9.94%.

Alphabet 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.