KFG Wealth Management LLC Grows Position in Alphabet Inc. $GOOGL

Key Points

• KFG Wealth Management LLC increased its position in Alphabet Inc. by 89.5% during the 2nd quarter, owning a total of 4,820 shares valued at $849,000.
• Recent earnings results showed Alphabet reported $2.31 EPS, exceeding analyst expectations by $0.16, with quarterly revenue of $96.43 billion.
• Alphabet recently paid a dividend of $0.21 per share, representing an annualized yield of 0.3% with a low payout ratio of 8.95%.

KFG Wealth Management LLC raised its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 89.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,820 shares of the information services provider's stock after buying an additional 2,277 shares during the quarter. KFG Wealth Management LLC's holdings in Alphabet were worth $849,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in GOOGL. Guardian Wealth Management Inc. grew its holdings in Alphabet by 242.9% during the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock valued at $26,000 after buying an additional 119 shares in the last quarter. von Borstel & Associates Inc. bought a new stake in shares of Alphabet in the 1st quarter valued at approximately $28,000. IMA Advisory Services Inc. bought a new stake in shares of Alphabet in the 1st quarter valued at approximately $28,000. NBZ Investment Advisors LLC lifted its stake in shares of Alphabet by 85.7% in the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider's stock valued at $30,000 after purchasing an additional 90 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. bought a new stake in shares of Alphabet in the 1st quarter valued at approximately $39,000. Hedge funds and other institutional investors own 40.03% of the company's stock.

Alphabet Price Performance

Shares of GOOGL stock opened at $247.14 on Thursday. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $256.00. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The firm has a market capitalization of $2.99 trillion, a P/E ratio of 26.32, a P/E/G ratio of 1.70 and a beta of 1.01. The stock has a 50 day moving average price of $213.46 and a 200 day moving average price of $181.91.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.15 by $0.16. 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 $93.60 billion. As a group, sell-side analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. Alphabet's payout ratio is 8.95%.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of several analyst reports. Westpark Capital raised their price objective on Alphabet from $210.00 to $220.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Citizens Jmp raised their price objective on Alphabet from $250.00 to $290.00 and gave the company an "outperform" rating in a research note on Friday, September 19th. Phillip Securities lowered Alphabet from a "strong-buy" rating to a "moderate buy" rating in a research note on Monday, September 8th. JPMorgan Chase & Co. raised their price objective on Alphabet from $200.00 to $232.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Finally, Tigress Financial raised their price objective on Alphabet from $240.00 to $280.00 and gave the company a "strong-buy" rating in a research note on Friday, September 5th. Three analysts have rated the stock with a Strong Buy rating, thirty-two have given a Buy rating and ten have issued a Hold rating to the company's stock. Based on data from MarketBeat, Alphabet currently has a consensus rating of "Moderate Buy" and an average price target of $231.31.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O'toole sold 2,778 shares of Alphabet stock in a transaction on Monday, September 15th. The stock was sold at an average price of $245.00, for a total transaction of $680,610.00. Following the completion of the sale, the chief accounting officer directly owned 17,293 shares of the company's stock, valued at $4,236,785. The trade was a 13.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John L. Hennessy sold 600 shares of Alphabet stock in a transaction on Monday, September 15th. The shares were sold at an average price of $249.44, for a total value of $149,664.00. Following the sale, the director directly owned 5,716 shares of the company's stock, valued at approximately $1,425,799.04. This trade represents a 9.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 258,088 shares of company stock worth $52,405,304 over the last quarter. Insiders own 11.64% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.