Alphabet Inc. (NASDAQ:GOOG) Shares Bought by Archford Capital Strategies LLC

Archford Capital Strategies LLC grew its holdings in Alphabet Inc. (NASDAQ:GOOG) by 3.5% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 24,208 shares of the information services provider’s stock after buying an additional 823 shares during the period. Archford Capital Strategies LLC’s holdings in Alphabet were worth $4,610,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Weiss Asset Management LP acquired a new stake in Alphabet during the 3rd quarter worth approximately $25,000. Safe Harbor Fiduciary LLC acquired a new stake in shares of Alphabet in the 3rd quarter worth $33,000. Sanctuary Wealth Management L.L.C. boosted its holdings in shares of Alphabet by 87.3% in the third quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock valued at $42,000 after acquiring an additional 117 shares in the last quarter. Iron Horse Wealth Management LLC increased its position in Alphabet by 32.3% during the 3rd quarter. Iron Horse Wealth Management LLC now owns 344 shares of the information services provider’s stock worth $57,000 after purchasing an additional 84 shares during the period. Finally, Kieckhefer Group LLC purchased a new position in shares of Alphabet during the 4th quarter worth approximately $76,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Stock Performance

Alphabet stock opened at $197.07 on Wednesday. The stock has a fifty day moving average price of $188.29 and a 200 day moving average price of $175.13. Alphabet Inc. has a 52 week low of $131.55 and a 52 week high of $203.84. The firm has a market capitalization of $2.41 trillion, a P/E ratio of 26.14, a PEG ratio of 1.27 and a beta of 0.99. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping the consensus estimate of $1.83 by $0.29. The firm had revenue of $88.27 billion during the quarter, compared to analyst estimates of $86.39 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. Alphabet’s revenue for the quarter was up 15.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.55 earnings per share. Equities research analysts anticipate that Alphabet Inc. will post 8.02 earnings per share for the current year.

Insider Activity

In other news, CAO Amie Thuener O’toole sold 1,367 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $171.42, for a total value of $234,331.14. Following the transaction, the chief accounting officer now owns 26,349 shares of the company’s stock, valued at approximately $4,516,745.58. This trade represents a 4.93 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Frances Arnold sold 441 shares of the stock in a transaction on Monday, November 4th. The shares were sold at an average price of $171.06, for a total value of $75,437.46. Following the completion of the sale, the director now owns 16,490 shares of the company’s stock, valued at approximately $2,820,779.40. This represents a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 122,887 shares of company stock valued at $22,470,464 in the last ninety days. Company insiders own 12.99% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on GOOG shares. Barclays lifted their price target on Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Jefferies Financial Group increased their target price on shares of Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Oppenheimer boosted their price target on Alphabet from $185.00 to $215.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Wells Fargo & Company raised their price objective on Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Finally, JPMorgan Chase & Co. raised their target price on shares of Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a 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 issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $205.13.

Alphabet 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.