Arcus Capital Partners LLC Decreases Position in Alphabet Inc. (NASDAQ:GOOG)

Posted by on Apr 11th, 2023

Arcus Capital Partners LLC lowered its stake in Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 79.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,500 shares of the information services provider’s stock after selling 9,949 shares during the quarter. Arcus Capital Partners LLC’s holdings in Alphabet were worth $222,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Asio Capital LLC boosted its position in shares of Alphabet by 4.2% in the 4th quarter. Asio Capital LLC now owns 77,158 shares of the information services provider’s stock valued at $6,846,000 after purchasing an additional 3,096 shares during the period. Tanager Wealth Management LLP increased its stake in Alphabet by 17.5% in the fourth quarter. Tanager Wealth Management LLP now owns 83,959 shares of the information services provider’s stock valued at $7,450,000 after acquiring an additional 12,481 shares during the period. Heritage Financial Services LLC grew its holdings in shares of Alphabet by 19.3% in the 4th quarter. Heritage Financial Services LLC now owns 3,387 shares of the information services provider’s stock worth $301,000 after purchasing an additional 547 shares during the last quarter. Baldwin Brothers LLC MA raised its stake in shares of Alphabet by 59.2% in the fourth quarter. Baldwin Brothers LLC MA now owns 95,387 shares of the information services provider’s stock valued at $8,464,000 after acquiring an additional 35,473 shares during the last quarter. Finally, Vantage Investment Partners LLC grew its holdings in Alphabet by 8.2% during the 4th quarter. Vantage Investment Partners LLC now owns 254,862 shares of the information services provider’s stock worth $22,614,000 after acquiring an additional 19,385 shares during the last quarter. 28.69% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Alphabet news, major shareholder 2021 Gp L.L.C. Gv acquired 415,000 shares of Alphabet stock in a transaction that occurred on Monday, March 13th. The stock was purchased at an average cost of $29.29 per share, with a total value of $12,155,350.00. Following the purchase, the insider now owns 1,709,527 shares in the company, valued at $50,072,045.83. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, major shareholder 2021 Gp L.L.C. Gv bought 415,000 shares of Alphabet stock in a transaction that occurred on Monday, March 13th. The stock was acquired at an average price of $29.29 per share, for a total transaction of $12,155,350.00. Following the completion of the purchase, the insider now owns 1,709,527 shares in the company, valued at $50,072,045.83. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 637 shares of the firm’s stock in a transaction that occurred on Wednesday, February 1st. The stock was sold at an average price of $99.87, for a total value of $63,617.19. Following the transaction, the chief accounting officer now owns 25,282 shares of the company’s stock, valued at approximately $2,524,913.34. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 112,192 shares of company stock valued at $11,373,417. Insiders own 12.99% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ:GOOG opened at $106.95 on Tuesday. The stock has a market cap of $1.37 trillion, a PE ratio of 23.50, a price-to-earnings-growth ratio of 1.51 and a beta of 1.10. The business’s fifty day moving average price is $98.81 and its two-hundred day moving average price is $96.44. Alphabet Inc. has a one year low of $83.45 and a one year high of $132.94. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.34 and a current ratio of 2.38.

Alphabet (NASDAQ:GOOG – Get Rating) last announced its quarterly earnings results on Thursday, February 2nd. The information services provider reported $1.05 earnings per share for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.09). The company had revenue of $76.05 billion during the quarter, compared to analyst estimates of $76.49 billion. Alphabet had a net margin of 21.20% and a return on equity of 23.54%. The firm’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter last year, the business earned $1.53 EPS. On average, analysts forecast that Alphabet Inc. will post 5.11 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on GOOG shares. JPMorgan Chase & Co. set a $118.00 price objective on Alphabet in a research note on Thursday, February 9th. Roth Capital reiterated a “buy” rating on shares of Alphabet in a report on Friday, February 3rd. Jefferies Financial Group set a $125.00 price objective on shares of Alphabet in a research report on Friday, February 3rd. UBS Group boosted their target price on Alphabet from $120.00 to $123.00 and gave the company a “buy” rating in a research note on Thursday, April 6th. Finally, Oppenheimer raised their target price on shares of Alphabet from $130.00 to $155.00 and gave the stock an “outperform” rating in a report on Friday, February 3rd. One research analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $135.24.

About Alphabet

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Alphabet, Inc engages in the business of delivering online advertising, cloud-based solutions that provide enterprise customers with infrastructure and platform services, the provision of communication and collaboration tools, and sales of other products and services such as apps and in-app purchases, hardware, and subscription-based products.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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