Arlington Partners LLC Raises Position in Alphabet Inc. (NASDAQ:GOOG)

Arlington Partners LLC lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOGGet Rating) by 1,900.0% in the 3rd quarter, HoldingsChannel reports. The firm owned 13,540 shares of the information services provider’s stock after buying an additional 12,863 shares during the quarter. Arlington Partners LLC’s holdings in Alphabet were worth $1,302,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. DC Investments Management LLC purchased a new position in Alphabet in the 1st quarter valued at approximately $115,000. Guardian Wealth Management Inc. purchased a new position in Alphabet in the 1st quarter valued at approximately $184,000. Turim 21 Investimentos Ltda. grew its stake in Alphabet by 10.8% in the 1st quarter. Turim 21 Investimentos Ltda. now owns 82 shares of the information services provider’s stock valued at $229,000 after buying an additional 8 shares in the last quarter. OneAscent Financial Services LLC purchased a new position in Alphabet in the 2nd quarter valued at approximately $203,000. Finally, Aspireon Wealth Advisors purchased a new position in Alphabet in the 2nd quarter valued at approximately $212,000. Hedge funds and other institutional investors own 28.69% of the company’s stock.

Analysts Set New Price Targets

GOOG has been the subject of a number of recent research reports. Raymond James reduced their price objective on shares of Alphabet from $143.00 to $120.00 and set an “outperform” rating for the company in a research note on Wednesday, October 26th. JPMorgan Chase & Co. set a $115.00 price target on shares of Alphabet in a research report on Wednesday, October 26th. Credit Suisse Group set a $128.00 price target on shares of Alphabet in a research report on Wednesday, October 26th. Cowen reduced their price target on shares of Alphabet from $150.00 to $135.00 and set an “outperform” rating for the company in a research report on Wednesday, October 26th. Finally, Societe Generale reduced their price target on shares of Alphabet from $147.00 to $132.00 and set a “buy” rating for the company in a research report on Wednesday, November 30th. One equities research analyst has rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and an average price target of $140.56.

Alphabet Stock Performance

NASDAQ GOOG opened at $101.21 on Tuesday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.47 and a current ratio of 2.52. The company has a market capitalization of $1.31 trillion, a P/E ratio of 20.10, a P/E/G ratio of 1.74 and a beta of 1.08. The company has a fifty day moving average of $93.62 and a 200-day moving average of $102.10. Alphabet Inc. has a 52-week low of $83.45 and a 52-week high of $152.10.

Alphabet (NASDAQ:GOOGGet Rating) last posted its quarterly earnings results on Tuesday, October 25th. The information services provider reported $1.06 earnings per share for the quarter, missing the consensus estimate of $1.25 by ($0.19). The business had revenue of $69.09 billion during the quarter, compared to the consensus estimate of $70.67 billion. Alphabet had a return on equity of 26.41% and a net margin of 23.75%. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.40 earnings per share. As a group, equities research analysts predict that Alphabet Inc. will post 4.68 EPS for the current fiscal year.

Insiders Place Their Bets

In other Alphabet news, SVP Prabhakar Raghavan sold 22,203 shares of the business’s stock in a transaction on Tuesday, January 3rd. The shares were sold at an average price of $89.75, for a total value of $1,992,719.25. Following the completion of the sale, the senior vice president now directly owns 76,579 shares of the company’s stock, valued at $6,872,965.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Alphabet news, SVP Prabhakar Raghavan sold 22,203 shares of the business’s stock in a transaction on Tuesday, January 3rd. The shares were sold at an average price of $89.75, for a total value of $1,992,719.25. Following the completion of the sale, the senior vice president now directly owns 76,579 shares of the company’s stock, valued at $6,872,965.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 855 shares of the company’s stock in a transaction dated Wednesday, November 2nd. The shares were sold at an average price of $90.85, for a total transaction of $77,676.75. Following the transaction, the chief accounting officer now directly owns 24,694 shares of the company’s stock, valued at $2,243,449.90. The disclosure for this sale can be found here. Over the last three months, insiders acquired 661,702 shares of company stock valued at $23,399,217 and sold 190,464 shares valued at $8,535,735. 12.99% of the stock is currently owned by insiders.

Alphabet 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.

Further Reading

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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