Arkfeld Wealth Strategies L.L.C. Raises Stake in Alphabet Inc. (NASDAQ:GOOG)

Arkfeld Wealth Strategies L.L.C. raised its holdings in Alphabet Inc. (NASDAQ:GOOG) by 1.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 26,515 shares of the information services provider’s stock after purchasing an additional 343 shares during the quarter. Alphabet comprises approximately 2.3% of Arkfeld Wealth Strategies L.L.C.’s portfolio, making the stock its 12th largest holding. Arkfeld Wealth Strategies L.L.C.’s holdings in Alphabet were worth $5,099,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in GOOG. Redhawk Wealth Advisors Inc. lifted its stake in Alphabet by 1.1% in the 4th quarter. Redhawk Wealth Advisors Inc. now owns 5,073 shares of the information services provider’s stock valued at $966,000 after buying an additional 54 shares in the last quarter. Investment Advisory Group LLC raised its holdings in shares of Alphabet by 0.7% in the fourth quarter. Investment Advisory Group LLC now owns 7,684 shares of the information services provider’s stock worth $1,463,000 after acquiring an additional 56 shares during the last quarter. McGlone Suttner Wealth Management Inc. lifted its position in shares of Alphabet by 4.6% in the fourth quarter. McGlone Suttner Wealth Management Inc. now owns 1,275 shares of the information services provider’s stock valued at $243,000 after acquiring an additional 56 shares in the last quarter. Sunburst Financial Group LLC boosted its stake in shares of Alphabet by 2.1% during the third quarter. Sunburst Financial Group LLC now owns 2,959 shares of the information services provider’s stock valued at $495,000 after acquiring an additional 60 shares during the last quarter. Finally, Johnson Financial Group LLC increased its position in Alphabet by 2.6% during the 3rd quarter. Johnson Financial Group LLC now owns 2,360 shares of the information services provider’s stock worth $395,000 after purchasing an additional 60 shares in the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on GOOG shares. Oppenheimer raised their price target on shares of Alphabet from $185.00 to $215.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Seaport Res Ptn upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Wells Fargo & Company increased their price target on Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. UBS Group lifted their price objective on Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. increased their target price on Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Six equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus price target of $205.13.

Alphabet Stock Performance

Shares of NASDAQ:GOOG opened at $193.64 on Tuesday. The business’s 50-day simple moving average is $187.95 and its 200 day simple moving average is $175.08. The company has a market cap of $2.37 trillion, a P/E ratio of 25.68, a PEG ratio of 1.27 and a beta of 0.99. Alphabet Inc. has a one year low of $131.55 and a one year high of $203.84. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95.

Alphabet (NASDAQ:GOOG) last released its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating the consensus estimate of $1.83 by $0.29. The company had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The business’s revenue was up 15.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.55 EPS. On average, sell-side analysts forecast that Alphabet Inc. will post 8.02 earnings per share for the current fiscal year.

Insider Buying and Selling at Alphabet

In related news, insider John Kent Walker sold 16,820 shares of the business’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $192.62, for a total value of $3,239,868.40. Following the completion of the sale, the insider now directly owns 43,981 shares of the company’s stock, valued at $8,471,620.22. The trade was a 27.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Amie Thuener O’toole sold 2,834 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $197.55, for a total value of $559,856.70. Following the transaction, the chief accounting officer now directly owns 20,681 shares in the company, valued at approximately $4,085,531.55. This represents a 12.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 133,387 shares of company stock worth $24,368,654 in the last ninety days. 12.99% of the stock is owned by 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, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.