Kingswood Wealth Advisors LLC Trims Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Kingswood Wealth Advisors LLC trimmed its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 28.5% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 59,343 shares of the information services provider’s stock after selling 23,672 shares during the period. Alphabet makes up about 0.8% of Kingswood Wealth Advisors LLC’s holdings, making the stock its 18th largest holding. Kingswood Wealth Advisors LLC’s holdings in Alphabet were worth $11,234,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bennett Selby Investments LP lifted its stake in Alphabet by 4.0% in the fourth quarter. Bennett Selby Investments LP now owns 1,354 shares of the information services provider’s stock valued at $256,000 after buying an additional 52 shares during the period. Conrad Siegel Investment Advisors Inc. raised its position in shares of Alphabet by 0.5% in the 4th quarter. Conrad Siegel Investment Advisors Inc. now owns 9,845 shares of the information services provider’s stock valued at $1,864,000 after acquiring an additional 53 shares during the period. Denver PWM LLC boosted its stake in Alphabet by 25.4% during the 3rd quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock worth $47,000 after acquiring an additional 57 shares during the last quarter. Ignite Planners LLC grew its holdings in Alphabet by 0.4% during the fourth quarter. Ignite Planners LLC now owns 15,078 shares of the information services provider’s stock valued at $2,892,000 after purchasing an additional 57 shares during the period. Finally, Fermata Advisors LLC increased its stake in Alphabet by 0.8% in the fourth quarter. Fermata Advisors LLC now owns 7,433 shares of the information services provider’s stock valued at $1,407,000 after purchasing an additional 57 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on GOOGL shares. Robert W. Baird reissued an “outperform” rating and issued a $205.00 price target on shares of Alphabet in a report on Tuesday, December 10th. Wolfe Research increased their price target on Alphabet from $220.00 to $230.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. China Renaissance upgraded Alphabet from a “hold” rating to a “buy” rating in a research report on Thursday, October 31st. Roth Mkm raised their target price on shares of Alphabet from $206.00 to $212.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, Morgan Stanley increased their price objective on shares of Alphabet from $205.00 to $215.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Nine research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and an average target price of $211.00.

Insider Buying and Selling

In other Alphabet news, insider John Kent Walker sold 16,820 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $8,471,620.22. The trade was a 27.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 1,367 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $170.41, for a total transaction of $232,950.47. Following the transaction, the chief accounting officer now directly owns 23,515 shares in the company, valued at approximately $4,007,191.15. This represents a 5.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 121,189 shares of company stock worth $22,182,696 in the last 90 days. Insiders own 11.55% of the company’s stock.

Alphabet Stock Up 1.6 %

Shares of NASDAQ GOOGL opened at $204.02 on Monday. The company has a market cap of $2.50 trillion, a price-to-earnings ratio of 27.06, a PEG ratio of 1.26 and a beta of 0.98. 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 12 month low of $130.66 and a 12 month high of $205.48. The stock has a 50-day moving average price of $188.97 and a two-hundred day moving average price of $174.08.

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.