Arkfeld Wealth Strategies L.L.C. lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOG – Free Report) by 5.0% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,384 shares of the information services provider’s stock after purchasing an additional 594 shares during the quarter. Alphabet comprises about 0.9% of Arkfeld Wealth Strategies L.L.C.’s holdings, making the stock its 24th biggest holding. Arkfeld Wealth Strategies L.L.C.’s holdings in Alphabet were worth $1,314,000 at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. DC Investments Management LLC acquired a new stake in Alphabet in the first quarter valued at approximately $115,000. Guardian Wealth Management Inc. acquired a new stake in Alphabet in the first quarter valued at approximately $184,000. Turim 21 Investimentos Ltda. raised its holdings in Alphabet by 10.8% in the first quarter. Turim 21 Investimentos Ltda. now owns 82 shares of the information services provider’s stock valued at $229,000 after acquiring an additional 8 shares in the last quarter. qPULA Trading Management LP acquired a new stake in Alphabet in the first quarter valued at approximately $279,000. Finally, Wayfinding Financial LLC acquired a new stake in Alphabet in the fourth quarter valued at approximately $294,000. Institutional investors and hedge funds own 27.17% of the company’s stock.
Analysts Set New Price Targets
Several brokerages have commented on GOOG. Deutsche Bank Aktiengesellschaft increased their price target on shares of Alphabet from $120.00 to $125.00 in a research note on Wednesday, April 26th. Robert W. Baird increased their price target on shares of Alphabet from $120.00 to $123.00 in a research note on Wednesday, April 26th. Oppenheimer dropped their price target on shares of Alphabet from $155.00 to $135.00 in a research note on Monday, April 24th. UBS Group increased their price target on shares of Alphabet from $120.00 to $123.00 and gave the company a “buy” rating in a research note on Thursday, April 6th. Finally, Raymond James raised their target price on shares of Alphabet from $119.00 to $130.00 in a research report on Wednesday, April 26th. One analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $132.80.
Alphabet Stock Performance
Alphabet (NASDAQ:GOOG – Free Report) last released its earnings results on Tuesday, April 25th. The information services provider reported $1.17 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.11. Alphabet had a return on equity of 22.84% and a net margin of 20.58%. The company had revenue of $69.79 billion during the quarter, compared to the consensus estimate of $68.80 billion. During the same quarter last year, the company earned $1.23 earnings per share. Alphabet’s quarterly revenue was up 2.6% compared to the same quarter last year. On average, sell-side analysts expect that Alphabet Inc. will post 5.39 EPS for the current year.
Insider Buying and Selling at Alphabet
In other Alphabet news, Director Frances Arnold sold 240 shares of the firm’s stock in a transaction on Thursday, June 29th. The stock was sold at an average price of $120.02, for a total value of $28,804.80. Following the completion of the sale, the director now owns 13,040 shares of the company’s stock, valued at $1,565,060.80. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction on Tuesday, June 13th. The stock was sold at an average price of $125.65, for a total transaction of $25,130.00. Following the completion of the transaction, the director now owns 5,740 shares of the company’s stock, valued at approximately $721,231. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Frances Arnold sold 240 shares of Alphabet stock in a transaction on Thursday, June 29th. The stock was sold at an average price of $120.02, for a total value of $28,804.80. Following the transaction, the director now directly owns 13,040 shares of the company’s stock, valued at approximately $1,565,060.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 848,978 shares of company stock valued at $27,492,109. 12.99% of the stock is owned by company insiders.
Alphabet Company 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, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
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