Arkfeld Wealth Strategies L.L.C. Buys 4,704 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Arkfeld Wealth Strategies L.L.C. raised its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 31.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 19,740 shares of the information services provider’s stock after purchasing an additional 4,704 shares during the quarter. Alphabet accounts for about 1.8% of Arkfeld Wealth Strategies L.L.C.’s holdings, making the stock its 16th biggest holding. Arkfeld Wealth Strategies L.L.C.’s holdings in Alphabet were worth $2,782,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of GOOGL. DC Investments Management LLC bought a new stake in Alphabet during the 1st quarter valued at $114,000. Bridgefront Capital LLC purchased a new stake in shares of Alphabet in the 1st quarter worth about $225,000. Worth Asset Management LLC purchased a new stake in Alphabet during the 1st quarter valued at about $206,000. Eudaimonia Advisors LLC grew its position in Alphabet by 15.1% during the 1st quarter. Eudaimonia Advisors LLC now owns 99 shares of the information services provider’s stock valued at $275,000 after purchasing an additional 13 shares during the last quarter. Finally, Aspire Capital Advisors LLC bought a new position in Alphabet during the 1st quarter valued at about $281,000. 35.08% of the stock is currently owned by institutional investors.

Insider Activity

In other news, SVP Prabhakar Raghavan sold 16,088 shares of the company’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $139.10, for a total transaction of $2,237,840.80. Following the transaction, the senior vice president now owns 52,440 shares in the company, valued at $7,294,404. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Alphabet news, CAO Amie Thuener O’toole sold 425 shares of the company’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $139.61, for a total value of $59,334.25. Following the sale, the chief accounting officer now owns 27,259 shares in the company, valued at approximately $3,805,628.99. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Prabhakar Raghavan sold 16,088 shares of the company’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $139.10, for a total value of $2,237,840.80. Following the completion of the sale, the senior vice president now owns 52,440 shares in the company, valued at approximately $7,294,404. The disclosure for this sale can be found here. Insiders have sold a total of 279,659 shares of company stock worth $39,460,310 over the last 90 days. 0.88% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Royal Bank of Canada restated an “outperform” rating and set a $155.00 target price on shares of Alphabet in a research note on Wednesday, January 31st. KeyCorp increased their price objective on shares of Alphabet from $153.00 to $165.00 and gave the stock an “overweight” rating in a research note on Monday, January 29th. Citigroup increased their price objective on shares of Alphabet from $153.00 to $168.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. Needham & Company LLC reissued a “buy” rating and issued a $160.00 target price on shares of Alphabet in a report on Wednesday, January 31st. Finally, Wedbush reissued an “outperform” rating and issued a $160.00 target price on shares of Alphabet in a report on Wednesday, January 31st. Five analysts have rated the stock with a hold rating, twenty-six have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $155.03.

Alphabet Stock Down 0.8 %

NASDAQ:GOOGL opened at $147.60 on Friday. Alphabet Inc. has a 1-year low of $99.74 and a 1-year high of $153.78. The company has a 50-day moving average of $142.75 and a 200 day moving average of $137.61. The firm has a market cap of $1.84 trillion, a PE ratio of 25.45, a price-to-earnings-growth ratio of 1.37 and a beta of 1.04. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.10 and a quick ratio of 2.10.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. The business had revenue of $86.31 billion during the quarter, compared to the consensus estimate of $70.77 billion. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. During the same period in the previous year, the company posted $1.05 earnings per share. As a group, research analysts anticipate that Alphabet Inc. will post 6.77 EPS for the current fiscal year.

Alphabet Profile

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.