Arkfeld Wealth Strategies L.L.C. increased its holdings in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 12.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,607 shares of the information services provider’s stock after acquiring an additional 1,547 shares during the period. Alphabet comprises 1.2% of Arkfeld Wealth Strategies L.L.C.’s investment portfolio, making the stock its 18th biggest holding. Arkfeld Wealth Strategies L.L.C.’s holdings in Alphabet were worth $1,618,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. DC Investments Management LLC purchased a new stake in Alphabet in the 1st quarter valued at $114,000. Bridgefront Capital LLC purchased a new stake in Alphabet in the 1st quarter valued at about $225,000. Worth Asset Management LLC purchased a new stake in Alphabet in the 1st quarter valued at about $206,000. Eudaimonia Advisors LLC increased its stake in Alphabet by 15.1% in the 1st quarter. Eudaimonia Advisors LLC now owns 99 shares of the information services provider’s stock valued at $275,000 after buying an additional 13 shares during the last quarter. Finally, Aspire Capital Advisors LLC purchased a new stake in Alphabet in the 1st quarter valued at about $281,000. Institutional investors and hedge funds own 35.08% of the company’s stock.
Alphabet Price Performance
GOOGL stock opened at $138.97 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.17 and a quick ratio of 2.14. Alphabet Inc. has a one year low of $83.34 and a one year high of $141.22. The stock has a market cap of $1.75 trillion, a PE ratio of 29.44, a P/E/G ratio of 1.59 and a beta of 1.06. The firm has a 50 day simple moving average of $133.33 and a two-hundred day simple moving average of $122.49.
Analysts Set New Price Targets
Several equities research analysts have commented on the stock. Morgan Stanley increased their price objective on shares of Alphabet from $150.00 to $155.00 in a research note on Wednesday, July 26th. Wells Fargo & Company increased their price target on shares of Alphabet from $121.00 to $126.00 and gave the company an “equal weight” rating in a research report on Tuesday. Evercore ISI lifted their price objective on shares of Alphabet from $130.00 to $160.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 26th. Tigress Financial increased their target price on shares of Alphabet from $160.00 to $172.00 and gave the company a “strong-buy” rating in a research report on Friday, July 14th. Finally, Jefferies Financial Group lifted their price target on shares of Alphabet from $150.00 to $165.00 in a report on Wednesday, July 26th. Four investment analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $144.00.
Check Out Our Latest Research Report on Alphabet
Insider Activity at Alphabet
In related news, CAO Amie Thuener O’toole sold 3,749 shares of the firm’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $136.28, for a total transaction of $510,913.72. Following the transaction, the chief accounting officer now directly owns 25,568 shares of the company’s stock, valued at approximately $3,484,407.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider John Kent Walker sold 42,900 shares of Alphabet stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $136.51, for a total value of $5,856,279.00. Following the transaction, the insider now owns 10,383 shares in the company, valued at approximately $1,417,383.33. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 3,749 shares of Alphabet stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $136.28, for a total value of $510,913.72. Following the completion of the transaction, the chief accounting officer now directly owns 25,568 shares in the company, valued at $3,484,407.04. The disclosure for this sale can be found here. In the last three months, insiders have sold 101,091 shares of company stock valued at $13,530,462. Corporate insiders own 0.88% of the company’s stock.
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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