Kingsman Wealth Management Inc. Takes $815,000 Position in Alphabet Inc. (NASDAQ:GOOG)

Kingsman Wealth Management Inc. bought a new stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 5,218 shares of the information services provider's stock, valued at approximately $815,000.

Several other institutional investors and hedge funds also recently bought and sold shares of GOOG. Concentrum Wealth Management boosted its stake in shares of Alphabet by 0.3% during the fourth quarter. Concentrum Wealth Management now owns 17,328 shares of the information services provider's stock worth $3,300,000 after buying an additional 57 shares during the period. JDM Financial Group LLC increased its holdings in Alphabet by 10.6% in the fourth quarter. JDM Financial Group LLC now owns 593 shares of the information services provider's stock valued at $113,000 after buying an additional 57 shares in the last quarter. Kidder Stephen W increased its stake in shares of Alphabet by 1.6% during the 4th quarter. Kidder Stephen W now owns 3,608 shares of the information services provider's stock worth $687,000 after purchasing an additional 58 shares in the last quarter. Hill Island Financial LLC increased its stake in shares of Alphabet by 0.8% during the 4th quarter. Hill Island Financial LLC now owns 7,776 shares of the information services provider's stock worth $1,481,000 after purchasing an additional 59 shares in the last quarter. Finally, Providence Wealth Advisors LLC increased its stake in shares of Alphabet by 0.6% during the 4th quarter. Providence Wealth Advisors LLC now owns 10,102 shares of the information services provider's stock worth $1,992,000 after purchasing an additional 60 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company's stock.

Analyst Ratings Changes

Several analysts recently commented on GOOG shares. The Goldman Sachs Group reissued a "buy" rating and set a $220.00 target price on shares of Alphabet in a research note on Monday, June 2nd. Roth Capital reaffirmed a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. KeyCorp lowered their price target on shares of Alphabet from $202.00 to $185.00 and set an "overweight" rating for the company in a research report on Wednesday, April 9th. Needham & Company LLC downgraded shares of Alphabet from a "buy" rating to a "cautious" rating in a research report on Friday, May 2nd. Finally, Tigress Financial reiterated a "strong-buy" 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 issued a hold rating, seventeen have assigned a buy rating and five have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $209.44.

Insider Buying and Selling at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $184.38, for a total transaction of $5,992,350.00. Following the completion of the sale, the chief executive officer owned 2,527,392 shares of the company's stock, valued at approximately $466,000,536.96. The trade was a 1.27% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Kavitark Ram Shriram sold 18,566 shares of the business's stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the completion of the sale, the director directly owned 243,400 shares of the company's stock, valued at $45,213,984. This represents a 7.09% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 249,409 shares of company stock worth $43,523,710. Insiders own 12.99% of the company's stock.

Alphabet Stock Performance

Shares of GOOG traded down $0.60 during trading hours on Wednesday, reaching $191.51. 27,774,212 shares of the company traded hands, compared to its average volume of 21,669,617. The stock's fifty day moving average is $174.02 and its 200 day moving average is $174.50. The stock has a market cap of $2.32 trillion, a P/E ratio of 21.35, a price-to-earnings-growth ratio of 1.33 and a beta of 1.01. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $208.70.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The information services provider reported $5.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $3.00. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. Equities research analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

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.