J Arnold Wealth Management Co Has $758,000 Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

J Arnold Wealth Management Co increased its stake in Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 27,213.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,921 shares of the information services provider’s stock after acquiring an additional 7,892 shares during the quarter. Alphabet comprises 0.4% of J Arnold Wealth Management Co’s holdings, making the stock its 16th largest holding. J Arnold Wealth Management Co’s holdings in Alphabet were worth $758,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in Alphabet by 1.4% in the first quarter. Vanguard Group Inc. now owns 23,304,411 shares of the information services provider’s stock worth $64,817,723,000 after purchasing an additional 331,945 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in Alphabet by 1,884.3% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 17,922,978 shares of the information services provider’s stock worth $1,714,333,000 after purchasing an additional 17,019,726 shares in the last quarter. Fiera Capital Corp increased its holdings in Alphabet by 1,957.3% in the second quarter. Fiera Capital Corp now owns 17,857,280 shares of the information services provider’s stock worth $1,945,783,000 after purchasing an additional 16,989,271 shares in the last quarter. Nordea Investment Management AB increased its holdings in shares of Alphabet by 1,830.2% during the third quarter. Nordea Investment Management AB now owns 16,487,668 shares of the information services provider’s stock valued at $1,605,074,000 after acquiring an additional 15,633,495 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of Alphabet by 1,821.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 9,352,658 shares of the information services provider’s stock valued at $894,580,000 after acquiring an additional 8,865,958 shares in the last quarter. 34.06% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Wells Fargo & Company decreased their price objective on Alphabet from $160.00 to $145.00 and set an “overweight” rating for the company in a report on Wednesday, October 26th. New Street Research assumed coverage on Alphabet in a report on Wednesday, January 4th. They set a “buy” rating and a $118.00 price objective for the company. Citigroup decreased their price objective on Alphabet from $140.00 to $120.00 and set a “buy” rating for the company in a report on Wednesday, October 26th. Tigress Financial decreased their price objective on Alphabet from $186.00 to $160.00 and set a “strong-buy” rating for the company in a report on Friday, January 6th. Finally, Morgan Stanley boosted their price objective on Alphabet from $120.00 to $125.00 and gave the company an “overweight” rating in a report on Wednesday, January 18th. Five analysts have rated the stock with a hold rating, thirty-two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $132.13.

Alphabet Stock Up 5.3 %

Shares of NASDAQ GOOGL opened at $98.02 on Monday. Alphabet Inc. has a one year low of $83.34 and a one year high of $151.55. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.52 and a quick ratio of 2.47. The business’s fifty day moving average price is $93.03 and its 200-day moving average price is $101.55. The stock has a market capitalization of $1.27 trillion, a PE ratio of 19.47, a P/E/G ratio of 1.72 and a beta of 1.09.

Alphabet (NASDAQ:GOOGLGet Rating) last released its quarterly earnings data on Tuesday, October 25th. The information services provider reported $1.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.19). Alphabet had a net margin of 23.75% and a return on equity of 26.41%. The company had revenue of $57.27 billion for the quarter, compared to the consensus estimate of $58.36 billion. During the same quarter in the previous year, the firm posted $1.40 earnings per share. On average, equities research analysts anticipate that Alphabet Inc. will post 4.68 EPS for the current year.

Insider Activity at Alphabet

In related news, major shareholder 2021 Gp L.L.C. Gv acquired 277,493 shares of the firm’s stock in a transaction that occurred on Friday, November 4th. The shares were bought at an average cost of $36.01 per share, for a total transaction of $9,992,522.93. Following the purchase, the insider now owns 870,895 shares in the company, valued at approximately $31,360,928.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, SVP Prabhakar Raghavan sold 22,203 shares of the business’s stock in a transaction on Tuesday, January 3rd. The stock was sold at an average price of $89.75, for a total transaction of $1,992,719.25. Following the sale, the senior vice president now directly owns 76,579 shares in the company, valued at approximately $6,872,965.25. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder 2021 Gp L.L.C. Gv bought 277,493 shares of the firm’s stock in a transaction on Friday, November 4th. The stock was acquired at an average price of $36.01 per share, for a total transaction of $9,992,522.93. Following the completion of the purchase, the insider now directly owns 870,895 shares in the company, valued at $31,360,928.95. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 661,702 shares of company stock worth $23,399,217 and have sold 190,744 shares worth $8,564,640. 11.44% of the stock is currently owned by corporate insiders.

Alphabet Company Profile

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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.

See Also

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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