Alphabet Inc. $GOOGL Shares Bought by Arkfeld Wealth Strategies L.L.C.

Arkfeld Wealth Strategies L.L.C. raised its stake in Alphabet Inc. (NASDAQ:GOOGL) by 0.9% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 41,456 shares of the information services provider’s stock after acquiring an additional 367 shares during the quarter. Alphabet makes up 2.9% of Arkfeld Wealth Strategies L.L.C.’s portfolio, making the stock its 10th biggest holding. Arkfeld Wealth Strategies L.L.C.’s holdings in Alphabet were worth $7,329,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in GOOGL. Brighton Jones LLC raised its holdings in shares of Alphabet by 3.9% in the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock worth $20,886,000 after acquiring an additional 4,110 shares during the last quarter. Revolve Wealth Partners LLC raised its holdings in shares of Alphabet by 3.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock worth $2,826,000 after acquiring an additional 506 shares during the last quarter. Forum Financial Management LP raised its holdings in shares of Alphabet by 6.4% in the fourth quarter. Forum Financial Management LP now owns 79,160 shares of the information services provider’s stock worth $14,985,000 after acquiring an additional 4,756 shares during the last quarter. Pinney & Scofield Inc. acquired a new position in shares of Alphabet in the fourth quarter worth $464,000. Finally, GF Fund Management CO. LTD. acquired a new position in Alphabet in the fourth quarter valued at $89,168,000. 40.03% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on GOOGL shares. Citigroup upped their target price on Alphabet from $225.00 to $280.00 and gave the company a “buy” rating in a research note on Monday, September 15th. BNP Paribas lowered Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, June 26th. BMO Capital Markets upped their target price on Alphabet from $208.00 to $225.00 and gave the company an “outperform” rating in a research note on Thursday, July 24th. Phillip Securities lowered Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research note on Monday, September 8th. Finally, Morgan Stanley upped their target price on Alphabet from $185.00 to $205.00 and gave the company an “overweight” rating in a research note on Monday, July 21st. Three investment analysts have rated the stock with a Strong Buy rating, thirty-two have given a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $225.54.

Insiders Place Their Bets

In related news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $229.73, for a total value of $7,466,225.00. Following the completion of the transaction, the chief executive officer owned 2,429,892 shares of the company’s stock, valued at approximately $558,219,089.16. This represents a 1.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 2,778 shares of the stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $245.00, for a total value of $680,610.00. Following the completion of the transaction, the chief accounting officer directly owned 17,293 shares of the company’s stock, valued at $4,236,785. This represents a 13.84% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 258,088 shares of company stock worth $52,405,304. Company insiders own 11.64% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $254.72 on Friday. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $256.00. The business has a 50-day moving average of $209.36 and a 200-day moving average of $180.36. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The company has a market capitalization of $3.08 trillion, a price-to-earnings ratio of 27.13, a PEG ratio of 1.72 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.16. The company had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. On average, equities analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were issued a $0.21 dividend. The ex-dividend date of this dividend was Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. Alphabet’s dividend payout ratio is currently 8.95%.

About Alphabet

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.