Archford Capital Strategies LLC Grows Stock Position in Alphabet Inc (NASDAQ:GOOG)

Archford Capital Strategies LLC boosted its position in Alphabet Inc (NASDAQ:GOOG) by 5.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 637 shares of the information services provider’s stock after buying an additional 31 shares during the quarter. Archford Capital Strategies LLC’s holdings in Alphabet were worth $777,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in GOOG. Nuveen Asset Management LLC increased its position in Alphabet by 6,515.2% in the second quarter. Nuveen Asset Management LLC now owns 3,039,672 shares of the information services provider’s stock worth $3,285,612,000 after buying an additional 2,993,722 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in Alphabet by 6.2% in the second quarter. Price T Rowe Associates Inc. MD now owns 11,480,467 shares of the information services provider’s stock worth $12,409,352,000 after buying an additional 674,924 shares during the last quarter. Investec Asset Management LTD increased its position in Alphabet by 2,660.9% in the second quarter. Investec Asset Management LTD now owns 648,507 shares of the information services provider’s stock worth $19,478,000 after buying an additional 625,018 shares during the last quarter. BlackRock Inc. increased its position in Alphabet by 3.1% in the second quarter. BlackRock Inc. now owns 20,205,186 shares of the information services provider’s stock worth $21,839,988,000 after buying an additional 612,804 shares during the last quarter. Finally, PenderFund Capital Management Ltd. increased its position in Alphabet by 127,265.7% in the second quarter. PenderFund Capital Management Ltd. now owns 445,780 shares of the information services provider’s stock worth $4,906,000 after buying an additional 445,430 shares during the last quarter. 33.80% of the stock is owned by institutional investors and hedge funds.

In other news, Director John L. Hennessy sold 150 shares of the business’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $1,225.00, for a total value of $183,750.00. Following the completion of the sale, the director now owns 276 shares of the company’s stock, valued at approximately $338,100. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Amie Thuener O’toole sold 55 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $1,200.74, for a total value of $66,040.70. Following the completion of the sale, the vice president now directly owns 388 shares of the company’s stock, valued at approximately $465,887.12. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,391 shares of company stock valued at $6,502,992. Corporate insiders own 12.99% of the company’s stock.

A number of analysts have issued reports on the company. Wedbush raised their target price on Alphabet from $1,350.00 to $1,500.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Deutsche Bank reissued a “buy” rating on shares of Alphabet in a research report on Thursday, October 3rd. Guggenheim raised their target price on Alphabet from $1,425.00 to $1,525.00 and gave the stock a “buy” rating in a research report on Wednesday. ValuEngine cut Alphabet from a “hold” rating to a “sell” rating in a research report on Thursday, October 10th. Finally, Benchmark reiterated a “buy” rating and issued a $1,360.00 price target (up from $1,315.00) on shares of Alphabet in a research report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $1,401.67.

Shares of GOOG stock opened at $1,259.13 on Thursday. The company has a quick ratio of 3.96, a current ratio of 3.98 and a debt-to-equity ratio of 0.07. The business has a 50-day moving average price of $1,221.16 and a two-hundred day moving average price of $1,174.79. Alphabet Inc has a 12-month low of $970.11 and a 12-month high of $1,289.27. The firm has a market cap of $861.75 billion, a P/E ratio of 26.50, a price-to-earnings-growth ratio of 1.46 and a beta of 0.99.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Thursday, July 25th. The information services provider reported $14.21 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $11.49 by $2.72. Alphabet had a return on equity of 20.15% and a net margin of 23.43%. The firm had revenue of $38.94 billion during the quarter, compared to analyst estimates of $38.21 billion. During the same quarter in the previous year, the company posted $11.75 earnings per share. The company’s revenue was up 19.3% compared to the same quarter last year. As a group, research analysts expect that Alphabet Inc will post 51.33 EPS for the current fiscal year.

About Alphabet

Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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