Kolinsky Wealth Management LLC Acquires 148 Shares of Alphabet Inc. (NASDAQ:GOOG)

Kolinsky Wealth Management LLC lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 7,409 shares of the information services provider’s stock after acquiring an additional 148 shares during the quarter. Alphabet makes up 0.9% of Kolinsky Wealth Management LLC’s investment portfolio, making the stock its 16th biggest holding. Kolinsky Wealth Management LLC’s holdings in Alphabet were worth $1,411,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the company. Fiduciary Advisors Inc. bought a new stake in shares of Alphabet during the fourth quarter worth about $27,000. LSV Asset Management bought a new position in shares of Alphabet in the fourth quarter worth $27,000. WealthTrak Capital Management LLC purchased a new stake in Alphabet in the 4th quarter worth approximately $38,000. Mountain Hill Investment Partners Corp. purchased a new position in Alphabet in the 4th quarter worth approximately $39,000. Finally, Noble Wealth Management PBC bought a new position in Alphabet during the fourth quarter valued at approximately $43,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on GOOG shares. Scotiabank reduced their price target on Alphabet from $232.00 to $200.00 and set a “sector outperform” rating for the company in a report on Monday, April 21st. Tigress Financial reiterated a “strong-buy” rating on shares of Alphabet in a research report on Friday, May 2nd. JPMorgan Chase & Co. raised their price target on shares of Alphabet from $180.00 to $195.00 and gave the company an “overweight” rating in a report on Friday, April 25th. Westpark Capital reaffirmed a “buy” rating and issued a $210.00 price target on shares of Alphabet in a report on Friday, April 25th. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $171.00 price target on shares of Alphabet in a research note on Friday, April 25th. Three analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have issued a buy rating and five have assigned a strong buy rating to the company. According to MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and an average price target of $203.94.

Insiders Place Their Bets

In other news, CAO Amie Thuener O’toole sold 673 shares of the stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $155.33, for a total transaction of $104,537.09. Following the sale, the chief accounting officer now owns 15,303 shares in the company, valued at $2,377,014.99. This represents a 4.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $165.53, for a total value of $33,106.00. Following the transaction, the director now owns 7,813 shares of the company’s stock, valued at approximately $1,293,285.89. This trade represents a 2.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 129,744 shares of company stock valued at $20,968,366. Company insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

Shares of NASDAQ GOOG opened at $165.32 on Wednesday. The company has a market capitalization of $2.01 trillion, a P/E ratio of 20.54, a P/E/G ratio of 1.34 and a beta of 1.01. The stock has a 50 day moving average of $160.18 and a 200-day moving average of $176.66. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $208.70.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.79. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The company had revenue of $90.23 billion during the quarter, compared to the consensus estimate of $89.30 billion. During the same quarter in the prior year, the firm posted $1.89 earnings per share. The firm’s revenue was up 12.0% compared to the same quarter last year. As a group, equities research analysts predict that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, June 9th. This represents a $0.84 annualized dividend and a dividend yield of 0.51%. This is a boost from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s dividend payout ratio (DPR) is currently 9.36%.

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.