Arkos Global Advisors Invests $973,000 in Alphabet Inc. $GOOG

Arkos Global Advisors acquired a new stake in Alphabet Inc. (NASDAQ:GOOGFree Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 3,995 shares of the information services provider’s stock, valued at approximately $973,000.

Other institutional investors have also recently made changes to their positions in the company. Imprint Wealth LLC purchased a new position in Alphabet in the 3rd quarter valued at approximately $31,000. Manning & Napier Advisors LLC acquired a new position in shares of Alphabet in the third quarter worth $32,000. Tripletail Wealth Management LLC purchased a new stake in shares of Alphabet during the third quarter worth $40,000. University of Illinois Foundation acquired a new stake in shares of Alphabet in the second quarter valued at $31,000. Finally, Retirement Wealth Solutions LLC raised its stake in shares of Alphabet by 145.0% in the third quarter. Retirement Wealth Solutions LLC now owns 196 shares of the information services provider’s stock valued at $48,000 after acquiring an additional 116 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet News Roundup

Here are the key news stories impacting Alphabet this week:

Analyst Upgrades and Downgrades

Several research firms recently commented on GOOG. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $370.00 target price on shares of Alphabet in a research note on Tuesday, January 20th. BMO Capital Markets reiterated an “outperform” rating and issued a $400.00 price objective on shares of Alphabet in a research note on Thursday, February 5th. UBS Group reissued a “neutral” rating and set a $348.00 price objective (up from $345.00) on shares of Alphabet in a research report on Thursday, February 12th. Oppenheimer restated an “outperform” rating and set a $360.00 target price on shares of Alphabet in a research note on Thursday, February 5th. Finally, Truist Financial set a $350.00 target price on shares of Alphabet in a report on Friday, December 5th. Nine research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, Alphabet currently has a consensus rating of “Buy” and an average target price of $345.71.

Read Our Latest Stock Report on Alphabet

Insider Activity at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $303.38, for a total value of $9,859,850.00. Following the completion of the transaction, the chief executive officer owned 1,674,560 shares in the company, valued at approximately $508,028,012.80. This represents a 1.90% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 955 shares of the stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $298.00, for a total transaction of $284,590.00. Following the completion of the transaction, the chief accounting officer directly owned 9,918 shares in the company, valued at $2,955,564. This trade represents a 8.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 2,112,493 shares of company stock valued at $118,605,094 in the last quarter. Company insiders own 12.99% of the company’s stock.

Alphabet Stock Down 0.6%

Shares of NASDAQ GOOG opened at $301.46 on Friday. The business has a 50-day moving average of $319.36 and a two-hundred day moving average of $290.32. The company has a market capitalization of $3.65 trillion, a price-to-earnings ratio of 27.89, a price-to-earnings-growth ratio of 1.76 and a beta of 1.10. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $350.15. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.01 and a quick ratio of 2.01.

Alphabet (NASDAQ:GOOGGet Free Report) last released its quarterly earnings data on Thursday, February 5th. The information services provider reported $2.82 EPS for the quarter, beating analysts’ consensus estimates of $2.59 by $0.23. Alphabet had a return on equity of 35.01% and a net margin of 32.81%.The business had revenue of $113.83 billion for the quarter, compared to the consensus estimate of $111.24 billion. During the same quarter in the prior year, the business posted $2.15 EPS. The business’s revenue for the quarter was up 18.0% on a year-over-year basis. On average, analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 9th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date is Monday, March 9th. Alphabet’s dividend payout ratio is currently 7.77%.

Alphabet Profile

(Free Report)

Alphabet Inc (NASDAQ: GOOG) is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as “Other Bets.” Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company’s history.

Alphabet’s core business centers on internet search and advertising, with Google Search and the company’s ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.

Further Reading

Want to see what other hedge funds are holding GOOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGFree Report).

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.