Alphabet Inc. (NASDAQ:GOOG) Shares Sold by J Arnold Wealth Management Co

Posted by Defense World Staff on Jul 5th, 2023

J Arnold Wealth Management Co decreased its stake in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 1.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 154,399 shares of the information services provider’s stock after selling 1,964 shares during the period. Alphabet makes up 7.8% of J Arnold Wealth Management Co’s investment portfolio, making the stock its 6th largest holding. J Arnold Wealth Management Co’s holdings in Alphabet were worth $16,057,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Monarch Capital Management Inc. raised its position in Alphabet by 4.0% during the fourth quarter. Monarch Capital Management Inc. now owns 40,712 shares of the information services provider’s stock worth $3,612,000 after acquiring an additional 1,562 shares during the last quarter. Matthew Goff Investment Advisor LLC raised its position in Alphabet by 4.2% during the fourth quarter. Matthew Goff Investment Advisor LLC now owns 7,380 shares of the information services provider’s stock worth $655,000 after acquiring an additional 300 shares during the last quarter. Gould Capital LLC raised its position in Alphabet by 2,150.0% during the third quarter. Gould Capital LLC now owns 315 shares of the information services provider’s stock worth $30,000 after acquiring an additional 301 shares during the last quarter. Meyer Handelman Co. raised its position in Alphabet by 7.4% during the first quarter. Meyer Handelman Co. now owns 264,040 shares of the information services provider’s stock worth $27,460,000 after acquiring an additional 18,210 shares during the last quarter. Finally, Galibier Capital Management Ltd. raised its position in Alphabet by 54.9% during the fourth quarter. Galibier Capital Management Ltd. now owns 10,502 shares of the information services provider’s stock worth $932,000 after acquiring an additional 3,722 shares during the last quarter. Institutional investors and hedge funds own 27.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on GOOG. Raymond James lifted their target price on shares of Alphabet from $119.00 to $130.00 in a research report on Wednesday, April 26th. Oppenheimer cut their price objective on shares of Alphabet from $155.00 to $135.00 in a research report on Monday, April 24th. Robert W. Baird boosted their price objective on shares of Alphabet from $120.00 to $123.00 in a research report on Wednesday, April 26th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Alphabet from $120.00 to $125.00 in a research report on Wednesday, April 26th. Finally, UBS Group boosted their price objective on shares of Alphabet from $120.00 to $123.00 and gave the company a “buy” rating in a research report on Thursday, April 6th. One analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $132.80.

Alphabet Price Performance

GOOG opened at $120.56 on Wednesday. The company has a quick ratio of 2.32, a current ratio of 2.35 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 52-week low of $83.45 and a 52-week high of $129.55. The company has a 50 day moving average of $119.36 and a two-hundred day moving average of $105.13. The company has a market cap of $1.53 trillion, a P/E ratio of 26.85, a P/E/G ratio of 1.55 and a beta of 1.07.

Alphabet (NASDAQ:GOOG – Free Report) last released its quarterly earnings data on Tuesday, April 25th. The information services provider reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.11. Alphabet had a net margin of 20.58% and a return on equity of 22.84%. The company had revenue of $69.79 billion during the quarter, compared to the consensus estimate of $68.80 billion. During the same period in the previous year, the firm earned $1.23 earnings per share. Alphabet’s revenue for the quarter was up 2.6% on a year-over-year basis. On average, analysts expect that Alphabet Inc. will post 5.39 earnings per share for the current year.

Insiders Place Their Bets

In other news, major shareholder 2021 Gp L.L.C. Gv bought 309,931 shares of the firm’s stock in a transaction dated Wednesday, May 3rd. The stock was acquired at an average cost of $28.34 per share, for a total transaction of $8,783,444.54. Following the completion of the purchase, the insider now owns 2,243,665 shares of the company’s stock, valued at $63,585,466.10. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. In other news, major shareholder 2021 Gp L.L.C. Gv bought 309,931 shares of the firm’s stock in a transaction dated Wednesday, May 3rd. The stock was acquired at an average cost of $28.34 per share, for a total transaction of $8,783,444.54. Following the completion of the purchase, the insider now owns 2,243,665 shares of the company’s stock, valued at $63,585,466.10. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 637 shares of the company’s stock in a transaction on Tuesday, May 2nd. The shares were sold at an average price of $107.51, for a total transaction of $68,483.87. Following the completion of the transaction, the chief accounting officer now owns 25,937 shares of the company’s stock, valued at $2,788,486.87. The disclosure for this sale can be found here. Insiders sold a total of 816,599 shares of company stock worth $24,142,177 over the last ninety days. 12.99% of the stock is owned by company insiders.

Alphabet Company Profile

(Free Report)

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.