KFG Wealth Management LLC Acquires 1,072 Shares of Alphabet Inc. $GOOG

Key Points

• KFG Wealth Management LLC increased its holdings in Alphabet Inc. by 33.9%, acquiring an additional 1,072 shares in the second quarter, bringing its total to 4,236 shares worth approximately $751,000.
• Alphabet's recent quarterly earnings report showed an EPS of $2.31, surpassing analysts' expectations of $2.12, with a revenue of $96.43 billion, representing a 13.8% increase year-over-year.
• The company declared a quarterly dividend of $0.21 per share, resulting in an annualized yield of 0.3%, highlighting a payout ratio of 8.95%.

KFG Wealth Management LLC grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 33.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,236 shares of the information services provider's stock after acquiring an additional 1,072 shares during the quarter. KFG Wealth Management LLC's holdings in Alphabet were worth $751,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Brighton Jones LLC grew its position in shares of Alphabet by 5.6% in the 4th quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider's stock worth $22,901,000 after buying an additional 6,410 shares during the period. Bank Pictet & Cie Europe AG grew its stake in shares of Alphabet by 4.3% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 506,535 shares of the information services provider's stock worth $96,465,000 after acquiring an additional 20,855 shares during the last quarter. Vermillion Wealth Management Inc. purchased a new stake in shares of Alphabet in the fourth quarter worth $79,000. Heck Capital Advisors LLC purchased a new stake in shares of Alphabet in the fourth quarter worth $403,000. Finally, Infinitum Asset Management LLC purchased a new stake in shares of Alphabet during the fourth quarter valued at $9,522,000. Institutional investors own 27.26% of the company's stock.

Alphabet Price Performance

GOOG stock opened at $252.88 on Tuesday. The business has a fifty day moving average of $211.48 and a two-hundred day moving average of $182.24. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The stock has a market cap of $3.06 trillion, a price-to-earnings ratio of 26.93, a price-to-earnings-growth ratio of 1.72 and a beta of 1.01. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $256.70.

Alphabet (NASDAQ:GOOG - Get Free Report) last released its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.12 by $0.19. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The firm had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.67 billion. During the same period last year, the business posted $1.89 earnings per share. Alphabet's revenue was up 13.8% compared to the same quarter last year. As a group, research analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date was Monday, September 8th. Alphabet's payout ratio is 8.95%.

Insider Buying and Selling

In related news, Director John L. Hennessy sold 600 shares of the company's stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $249.44, for a total value of $149,664.00. Following the sale, the director owned 5,716 shares of the company's stock, valued at approximately $1,425,799.04. This represents a 9.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $249.50, for a total value of $8,108,750.00. Following the completion of the transaction, the chief executive officer owned 2,397,392 shares of the company's stock, valued at $598,149,304. This trade represents a 1.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 258,088 shares of company stock worth $52,405,304 in the last three months. Company insiders own 12.99% of the company's stock.

Wall Street Analysts Forecast Growth

GOOG has been the topic of a number of analyst reports. Barclays reaffirmed a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. Roth Capital reaffirmed a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. Phillip Securities downgraded Alphabet from a "strong-buy" rating to a "moderate buy" rating in a research note on Monday, September 8th. BNP Paribas downgraded Alphabet from a "strong-buy" rating to a "hold" rating in a research note on Thursday, June 26th. Finally, Pivotal Research lifted their target price on Alphabet from $245.00 to $300.00 and gave the company a "buy" rating in a research note on Wednesday, September 3rd. Four investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, five have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, Alphabet presently has a consensus rating of "Moderate Buy" and an average target price of $230.35.

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.

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