Alphabet Inc. (NASDAQ:GOOGL) Shares Acquired by Arcus Capital Partners LLC

Posted by MarketBeat News on Aug 3rd, 2022

Arcus Capital Partners LLC raised its stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 244.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 320 shares of the information services provider’s stock after acquiring an additional 227 shares during the period. Arcus Capital Partners LLC’s holdings in Alphabet were worth $890,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. State Street Corp grew its holdings in shares of Alphabet by 1.4% in the fourth quarter. State Street Corp now owns 11,252,792 shares of the information services provider’s stock valued at $32,599,789,000 after purchasing an additional 157,280 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Alphabet by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 5,322,633 shares of the information services provider’s stock valued at $15,381,257,000 after purchasing an additional 116,084 shares in the last quarter. Norges Bank acquired a new position in shares of Alphabet in the fourth quarter valued at approximately $14,477,662,000. Massachusetts Financial Services Co. MA grew its holdings in shares of Alphabet by 0.7% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,825,959 shares of the information services provider’s stock valued at $8,186,916,000 after purchasing an additional 20,120 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in shares of Alphabet by 14.1% in the fourth quarter. Invesco Ltd. now owns 2,292,059 shares of the information services provider’s stock valued at $6,640,190,000 after purchasing an additional 283,907 shares in the last quarter. 41.70% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GOOGL has been the subject of a number of research reports. Mizuho dropped their price objective on shares of Alphabet from $175.00 to $150.00 and set a “buy” rating for the company in a report on Friday, July 22nd. Exane BNP Paribas cut shares of Alphabet from an “outperform” rating to a “neutral” rating in a report on Wednesday, July 20th. Susquehanna Bancshares lowered their price target on shares of Alphabet from $187.50 to $150.00 and set a “positive” rating for the company in a report on Wednesday, July 27th. Piper Sandler lowered their price target on shares of Alphabet from $139.00 to $135.00 and set an “overweight” rating for the company in a report on Wednesday, July 27th. Finally, UBS Group lowered their price target on shares of Alphabet from $133.00 to $132.00 and set a “buy” rating for the company in a report on Wednesday, July 27th. Five investment analysts have rated the stock with a hold rating, thirty-three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus price target of $147.29.

Insider Transactions at Alphabet

In other news, Director Frances Arnold sold 1,230 shares of the company’s stock in a transaction on Friday, July 29th. The shares were sold at an average price of $116.44, for a total transaction of $143,221.20. Following the transaction, the director now directly owns 9,230 shares of the company’s stock, valued at approximately $1,074,741.20. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Alphabet news, major shareholder 2021 Gp L.L.C. Gv acquired 255,647 shares of the stock in a transaction that occurred on Tuesday, May 10th. The shares were purchased at an average cost of $34.65 per share, with a total value of $8,858,168.55. Following the purchase, the insider now owns 479,695 shares in the company, valued at $16,621,431.75. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Frances Arnold sold 1,230 shares of the stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $116.44, for a total transaction of $143,221.20. Following the completion of the sale, the director now directly owns 9,230 shares in the company, valued at $1,074,741.20. The disclosure for this sale can be found here. Insiders have sold a total of 6,737 shares of company stock valued at $11,549,847 in the last ninety days. 11.44% of the stock is currently owned by company insiders.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $115.13 on Wednesday. The company has a quick ratio of 2.78, a current ratio of 2.81 and a debt-to-equity ratio of 0.06. Alphabet Inc. has a fifty-two week low of $101.88 and a fifty-two week high of $151.55. The stock has a market cap of $1.52 trillion, a PE ratio of 21.42, a price-to-earnings-growth ratio of 1.88 and a beta of 1.08. The firm’s fifty day simple moving average is $154.71 and its 200-day simple moving average is $138.38.

Alphabet (NASDAQ:GOOGL – Get Rating) last posted its quarterly earnings results on Tuesday, July 26th. The information services provider reported $1.21 earnings per share for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.11). Alphabet had a return on equity of 28.65% and a net margin of 25.89%. During the same quarter last year, the firm earned $27.26 EPS. Analysts expect that Alphabet Inc. will post 5.22 earnings per share for the current fiscal year.

Alphabet Company Profile

(Get Rating)

Alphabet Inc provides 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 offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.