Arrowroot Family Office LLC Has $500,000 Stake in Alphabet Inc. (NASDAQ:GOOGL)

Arrowroot Family Office LLC increased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 17.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,015 shares of the information services provider’s stock after acquiring an additional 451 shares during the period. Arrowroot Family Office LLC’s holdings in Alphabet were worth $500,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Christopher J. Hasenberg Inc increased its stake in Alphabet by 75.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after buying an additional 60 shares during the last quarter. LMR Partners LLP acquired a new stake in Alphabet in the 3rd quarter valued at $32,000. Kings Path Partners LLC acquired a new stake in Alphabet in the 2nd quarter valued at $36,000. Denver PWM LLC acquired a new stake in Alphabet in the 2nd quarter valued at $41,000. Finally, Quarry LP acquired a new position in shares of Alphabet during the 2nd quarter worth about $53,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently weighed in on GOOGL shares. Wells Fargo & Company boosted their price objective on shares of Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. China Renaissance upgraded shares of Alphabet from a “hold” rating to a “buy” rating in a research note on Thursday, October 31st. Scotiabank upgraded shares of Alphabet to a “strong-buy” rating in a research note on Friday, October 11th. Seaport Res Ptn upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Finally, Sanford C. Bernstein boosted their price objective on shares of Alphabet from $180.00 to $185.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 30th. Seven equities research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $206.08.

Insider Buying and Selling

In other Alphabet news, insider John Kent Walker sold 16,802 shares of the firm’s stock in a transaction on Friday, September 27th. The shares were sold at an average price of $165.47, for a total value of $2,780,226.94. Following the completion of the sale, the insider now directly owns 43,999 shares in the company, valued at approximately $7,280,514.53. This trade represents a 27.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $160.63, for a total transaction of $3,614,175.00. Following the completion of the sale, the chief executive officer now owns 2,114,885 shares of the company’s stock, valued at $339,713,977.55. The trade was a 1.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 197,123 shares of company stock valued at $34,121,676 over the last quarter. Insiders own 11.55% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $191.96 on Friday. The company has a market cap of $2.35 trillion, a price-to-earnings ratio of 25.46, a PEG ratio of 1.24 and a beta of 1.01. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The firm has a 50 day simple moving average of $170.66 and a 200 day simple moving average of $170.46. Alphabet Inc. has a one year low of $129.68 and a one year high of $195.61.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.29. The firm had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same quarter last year, the firm earned $1.55 earnings per share. Research analysts predict that Alphabet Inc. will post 8.01 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio is presently 10.61%.

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.