Kingsman Wealth Management Inc. Acquires Shares of 5,218 Alphabet Inc. (NASDAQ:GOOG)

Kingsman Wealth Management Inc. purchased a new stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 5,218 shares of the information services provider's stock, valued at approximately $815,000.

Other large investors have also recently bought and sold shares of the company. ARQ Wealth Advisors LLC grew its position in Alphabet by 39.3% in the fourth quarter. ARQ Wealth Advisors LLC now owns 4,964 shares of the information services provider's stock valued at $945,000 after acquiring an additional 1,400 shares during the period. Independence Bank of Kentucky grew its holdings in shares of Alphabet by 10.2% during the first quarter. Independence Bank of Kentucky now owns 14,907 shares of the information services provider's stock worth $2,329,000 after purchasing an additional 1,376 shares during the last quarter. Harvest Investment Services LLC grew its holdings in shares of Alphabet by 3.3% during the fourth quarter. Harvest Investment Services LLC now owns 4,329 shares of the information services provider's stock worth $824,000 after purchasing an additional 138 shares during the last quarter. Fermata Advisors LLC grew its holdings in shares of Alphabet by 2.7% during the first quarter. Fermata Advisors LLC now owns 9,771 shares of the information services provider's stock worth $1,527,000 after purchasing an additional 259 shares during the last quarter. Finally, jvl associates llc grew its holdings in shares of Alphabet by 3.5% during the first quarter. jvl associates llc now owns 10,055 shares of the information services provider's stock worth $1,571,000 after purchasing an additional 343 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

GOOG has been the topic of several research analyst reports. JPMorgan Chase & Co. increased their target price on Alphabet from $200.00 to $232.00 and gave the stock an "overweight" rating in a report on Thursday. Westpark Capital reaffirmed a "buy" rating and set a $210.00 price target on shares of Alphabet in a research note on Friday, April 25th. Citigroup reaffirmed a "sell" rating on shares of Alphabet in a research note on Wednesday, April 23rd. Piper Sandler reissued a "neutral" rating on shares of Alphabet in a research note on Wednesday, July 9th. Finally, Susquehanna reissued a "positive" rating on shares of Alphabet in a research note on Friday, May 2nd. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have given a buy rating and five have given a strong buy rating to the company. Based on data from MarketBeat.com, Alphabet presently has a consensus rating of "Moderate Buy" and a consensus target price of $212.69.

Alphabet Stock Performance

Shares of GOOG traded up $2.59 during mid-day trading on Thursday, reaching $194.10. The company's stock had a trading volume of 32,443,234 shares, compared to its average volume of 24,142,451. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $208.70. The stock has a market cap of $2.36 trillion, a P/E ratio of 21.64, a PEG ratio of 1.33 and a beta of 1.01. The business has a 50-day simple moving average of $175.77 and a two-hundred day simple moving average of $174.72. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOG - Get Free Report) last released its quarterly earnings data 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 34.54% and a net margin of 30.86%. The company had revenue of $96.43 billion during the quarter, compared to analysts' expectations of $93.67 billion. During the same period last year, the firm posted $1.89 earnings per share. The business's revenue was up 13.8% on a year-over-year basis. As a group, equities research analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Insider Activity

In related news, Director John L. Hennessy sold 400 shares of Alphabet stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $181.98, for a total transaction of $72,792.00. Following the completion of the sale, the director directly owned 6,013 shares of the company's stock, valued at approximately $1,094,245.74. This trade represents a 6.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Kavitark Ram Shriram sold 18,566 shares of Alphabet stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $3,448,820.16. Following the sale, the director directly owned 243,400 shares of the company's stock, valued at approximately $45,213,984. The trade was a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 249,409 shares of company stock valued at $43,523,710 over the last three months. Insiders own 12.99% 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.