J Arnold Wealth Management Co Has $15.08 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

J Arnold Wealth Management Co increased its holdings in Alphabet Inc. (NASDAQ:GOOGGet Rating) by 1,967.7% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 156,791 shares of the information services provider’s stock after buying an additional 149,208 shares during the quarter. Alphabet comprises approximately 8.5% of J Arnold Wealth Management Co’s portfolio, making the stock its 4th biggest position. J Arnold Wealth Management Co’s holdings in Alphabet were worth $15,075,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of GOOG. Totem Point Management LLC increased its holdings in Alphabet by 22.0% in the 1st quarter. Totem Point Management LLC now owns 3,171 shares of the information services provider’s stock worth $8,857,000 after buying an additional 571 shares in the last quarter. Somerville Kurt F increased its holdings in Alphabet by 10.3% in the 1st quarter. Somerville Kurt F now owns 118 shares of the information services provider’s stock worth $330,000 after buying an additional 11 shares in the last quarter. BCK Partners Inc. bought a new stake in Alphabet in the 1st quarter worth about $2,564,000. Hall Capital Management Co. Inc. increased its holdings in Alphabet by 53.2% in the 1st quarter. Hall Capital Management Co. Inc. now owns 144 shares of the information services provider’s stock worth $402,000 after buying an additional 50 shares in the last quarter. Finally, Fairfield Bush & CO. increased its holdings in Alphabet by 6.8% in the 1st quarter. Fairfield Bush & CO. now owns 3,370 shares of the information services provider’s stock worth $9,412,000 after buying an additional 214 shares in the last quarter. 28.69% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. UBS Group set a $115.00 price target on Alphabet in a research note on Thursday, January 12th. JPMorgan Chase & Co. set a $115.00 price target on Alphabet in a research note on Wednesday, October 26th. Jefferies Financial Group set a $125.00 price target on Alphabet in a research note on Monday, January 9th. Piper Sandler cut their price target on Alphabet from $135.00 to $122.00 and set an “overweight” rating for the company in a research note on Wednesday, October 26th. Finally, Cowen cut their price target on Alphabet from $150.00 to $135.00 and set an “outperform” rating for the company in a research note on Wednesday, October 26th. One investment analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $140.56.

Alphabet Stock Up 2.3 %

NASDAQ GOOG opened at $93.91 on Friday. The stock’s 50 day moving average is $93.47 and its 200 day moving average is $102.22. The company has a current ratio of 2.52, a quick ratio of 2.47 and a debt-to-equity ratio of 0.06. Alphabet Inc. has a 12 month low of $83.45 and a 12 month high of $152.10. The stock has a market cap of $1.22 trillion, a PE ratio of 18.65, a P/E/G ratio of 1.63 and a beta of 1.08.

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

Insiders Place Their Bets

In other news, major shareholder 2019 Gp L.L.C. Gv acquired 800,000 shares of Alphabet stock in a transaction on Monday, October 24th. The shares were acquired at an average price of $17.00 per share, with a total value of $13,600,000.00. Following the purchase, the insider now directly owns 11,522,248 shares in the company, valued at approximately $195,878,216. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CAO Amie Thuener O’toole sold 855 shares of the business’s stock in a transaction that occurred on Wednesday, January 4th. The stock was sold at an average price of $91.15, for a total transaction of $77,933.25. Following the transaction, the chief accounting officer now owns 25,122 shares of the company’s stock, valued at approximately $2,289,870.30. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder 2019 Gp L.L.C. Gv bought 800,000 shares of the business’s stock in a transaction dated Monday, October 24th. The shares were bought at an average cost of $17.00 per share, for a total transaction of $13,600,000.00. Following the transaction, the insider now owns 11,522,248 shares in the company, valued at approximately $195,878,216. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 1,461,702 shares of company stock valued at $36,999,217 and have sold 190,744 shares valued at $8,564,640. Corporate insiders own 12.99% of the company’s stock.

About Alphabet

(Get Rating)

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.

Recommended Stories

Want to see what other hedge funds are holding GOOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGGet Rating).

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.