Arkos Global Advisors raised its holdings in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 3.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 9,323 shares of the information services provider’s stock after buying an additional 271 shares during the quarter. Arkos Global Advisors’ holdings in Alphabet were worth $967,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GOOGL. Spreng Capital Management Inc. lifted its holdings in Alphabet by 4.0% in the first quarter. Spreng Capital Management Inc. now owns 131 shares of the information services provider’s stock worth $364,000 after acquiring an additional 5 shares during the last quarter. West Family Investments Inc. lifted its holdings in Alphabet by 0.3% in the first quarter. West Family Investments Inc. now owns 1,754 shares of the information services provider’s stock worth $4,878,000 after acquiring an additional 6 shares during the last quarter. Maple Capital Management Inc. lifted its holdings in Alphabet by 2.1% in the first quarter. Maple Capital Management Inc. now owns 296 shares of the information services provider’s stock worth $823,000 after acquiring an additional 6 shares during the last quarter. Private Advisory Group LLC lifted its holdings in Alphabet by 1.8% in the first quarter. Private Advisory Group LLC now owns 401 shares of the information services provider’s stock worth $1,115,000 after acquiring an additional 7 shares during the last quarter. Finally, Weik Capital Management lifted its holdings in Alphabet by 0.5% in the first quarter. Weik Capital Management now owns 1,533 shares of the information services provider’s stock worth $4,264,000 after acquiring an additional 8 shares during the last quarter. 35.38% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of brokerages have issued reports on GOOGL. Sanford C. Bernstein raised their target price on shares of Alphabet from $130.00 to $135.00 in a report on Wednesday, July 26th. Bank of America raised their target price on shares of Alphabet from $142.00 to $146.00 in a report on Wednesday, July 26th. 888 reaffirmed a “downgrade” rating on shares of Alphabet in a report on Monday, June 26th. Royal Bank of Canada lifted their price target on Alphabet from $145.00 to $155.00 in a report on Wednesday, July 26th. Finally, Evercore ISI lifted their price target on Alphabet from $130.00 to $160.00 and gave the company an “outperform” rating in a report on Wednesday, July 26th. Four investment analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $143.08.
Alphabet Price Performance
Shares of NASDAQ:GOOGL opened at $131.01 on Tuesday. The company’s fifty day moving average is $125.24 and its two-hundred day moving average is $113.62. The company has a market cap of $1.65 trillion, a P/E ratio of 27.76, a price-to-earnings-growth ratio of 1.50 and a beta of 1.06. Alphabet Inc. has a 12-month low of $83.34 and a 12-month high of $134.25. The company has a quick ratio of 2.14, a current ratio of 2.17 and a debt-to-equity ratio of 0.05.
Alphabet (NASDAQ:GOOGL – Get Free Report) last posted its quarterly earnings results on Tuesday, July 25th. The information services provider reported $1.44 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.12. Alphabet had a return on equity of 23.49% and a net margin of 21.05%. The firm had revenue of $74.60 billion for the quarter, compared to analyst estimates of $60.24 billion. During the same period in the previous year, the firm earned $1.21 earnings per share. Equities analysts expect that Alphabet Inc. will post 5.68 earnings per share for the current fiscal year.
Insider Buying and Selling
In other Alphabet news, SVP Prabhakar Raghavan sold 16,083 shares of the stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $120.31, for a total value of $1,934,945.73. Following the completion of the sale, the senior vice president now owns 127,028 shares in the company, valued at approximately $15,282,738.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Alphabet news, SVP Prabhakar Raghavan sold 16,083 shares of the stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $120.31, for a total value of $1,934,945.73. Following the completion of the sale, the senior vice president now owns 127,028 shares in the company, valued at approximately $15,282,738.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Frances Arnold sold 240 shares of the stock in a transaction that occurred on Wednesday, May 31st. The stock was sold at an average price of $123.73, for a total transaction of $29,695.20. Following the completion of the sale, the director now owns 12,800 shares of the company’s stock, valued at approximately $1,583,744. The disclosure for this sale can be found here. Over the last three months, insiders sold 180,006 shares of company stock worth $8,804,132. 0.88% of the stock is owned by company insiders.
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, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
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