Arkos Global Advisors Raises Position in Alphabet Inc. (NASDAQ:GOOGL)

Arkos Global Advisors grew its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 1,629.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,960 shares of the information services provider’s stock after buying an additional 8,442 shares during the quarter. Alphabet accounts for 0.3% of Arkos Global Advisors’ portfolio, making the stock its 29th largest position. Arkos Global Advisors’ holdings in Alphabet were worth $857,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in GOOGL. Massachusetts Financial Services Co. MA raised its holdings in shares of Alphabet by 1,955.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 61,134,061 shares of the information services provider’s stock valued at $5,847,474,000 after purchasing an additional 58,159,150 shares during the last quarter. Fisher Asset Management LLC raised its stake in Alphabet by 1,928.6% during the 3rd quarter. Fisher Asset Management LLC now owns 42,474,883 shares of the information services provider’s stock valued at $4,062,723,000 after buying an additional 40,381,114 shares during the last quarter. Nuveen Asset Management LLC lifted its holdings in shares of Alphabet by 1,731.5% during the 3rd quarter. Nuveen Asset Management LLC now owns 33,615,585 shares of the information services provider’s stock valued at $3,215,331,000 after buying an additional 31,780,148 shares during the period. Jennison Associates LLC boosted its stake in shares of Alphabet by 1,690.3% in the 3rd quarter. Jennison Associates LLC now owns 26,231,920 shares of the information services provider’s stock worth $2,509,083,000 after buying an additional 24,766,730 shares during the last quarter. Finally, Lazard Asset Management LLC grew its holdings in shares of Alphabet by 1,859.4% in the third quarter. Lazard Asset Management LLC now owns 21,883,290 shares of the information services provider’s stock worth $2,093,134,000 after acquiring an additional 20,766,438 shares during the period. Institutional investors own 34.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on GOOGL. Evercore ISI decreased their target price on shares of Alphabet from $130.00 to $120.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 21st. MKM Partners lifted their target price on shares of Alphabet from $120.00 to $126.00 in a research note on Friday, February 3rd. Loop Capital upped their target price on shares of Alphabet from $120.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, February 8th. Needham & Company LLC reissued a “buy” rating and set a $115.00 price target on shares of Alphabet in a report on Wednesday, March 8th. Finally, New Street Research started coverage on Alphabet in a research report on Wednesday, January 4th. They issued a “buy” rating and a $118.00 price objective on the stock. Five equities research analysts have rated the stock with a hold rating, thirty-three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $132.32.

Alphabet Stock Performance

Shares of NASDAQ:GOOGL opened at $90.63 on Monday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.34 and a current ratio of 2.38. The firm has a market cap of $1.16 trillion, a PE ratio of 19.91, a price-to-earnings-growth ratio of 1.25 and a beta of 1.09. The firm’s 50 day simple moving average is $94.19 and its 200-day simple moving average is $96.59. Alphabet Inc. has a one year low of $83.34 and a one year high of $143.79.

Alphabet (NASDAQ:GOOGL – Get Rating) last issued its quarterly earnings data on Thursday, February 2nd. The information services provider reported $1.05 earnings per share for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.09). Alphabet had a return on equity of 23.54% and a net margin of 21.20%. The company had revenue of $76.05 billion for the quarter, compared to analysts’ expectations of $63.15 billion. During the same quarter last year, the company earned $1.53 earnings per share. As a group, equities analysts predict that Alphabet Inc. will post 5.12 EPS for the current year.

Insider Activity

In other Alphabet news, SVP Prabhakar Raghavan sold 22,203 shares of Alphabet stock in a transaction on Tuesday, January 3rd. The shares were sold at an average price of $89.75, for a total value of $1,992,719.25. Following the transaction, the senior vice president now directly owns 76,579 shares of the company’s stock, valued at $6,872,965.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Alphabet news, SVP Prabhakar Raghavan sold 22,203 shares of the firm’s stock in a transaction dated Tuesday, January 3rd. The stock was sold at an average price of $89.75, for a total value of $1,992,719.25. Following the completion of the sale, the senior vice president now owns 76,579 shares of the company’s stock, valued at $6,872,965.25. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider John Kent Walker sold 11,313 shares of the company’s stock in a transaction dated Monday, January 23rd. The shares were sold at an average price of $100.00, for a total transaction of $1,131,300.00. Following the transaction, the insider now owns 41,970 shares in the company, valued at approximately $4,197,000. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 36,745 shares of company stock worth $3,424,078. Corporate insiders own 11.44% of the company’s stock.

Alphabet Company Profile

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Alphabet, Inc engages in the business of delivering online advertising, cloud-based solutions that provide enterprise customers with infrastructure and platform services, the provision of communication and collaboration tools, and sales of other products and services such as apps and in-app purchases, hardware, and subscription-based products.