Archvest Wealth Advisors Inc. Purchases 441 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Archvest Wealth Advisors Inc. boosted its position in Alphabet Inc. (NASDAQ:GOOGL) by 6.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,372 shares of the information services provider’s stock after purchasing an additional 441 shares during the quarter. Alphabet makes up 0.9% of Archvest Wealth Advisors Inc.’s portfolio, making the stock its 25th biggest position. Archvest Wealth Advisors Inc.’s holdings in Alphabet were worth $1,140,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. von Borstel & Associates Inc. bought a new position in shares of Alphabet during the first quarter valued at $28,000. Financial Gravity Asset Management Inc. purchased a new stake in shares of Alphabet during the first quarter valued at $39,000. Anderson Financial Strategies LLC purchased a new stake in shares of Alphabet during the fourth quarter valued at $49,000. Navigoe LLC purchased a new stake in shares of Alphabet during the fourth quarter valued at $51,000. Finally, Elite Financial Inc. purchased a new stake in shares of Alphabet during the first quarter valued at $42,000. Institutional investors own 40.03% of the company’s stock.

Insiders Place Their Bets

In related news, Director Kavitark Ram Shriram sold 18,566 shares of the business’s stock in a transaction on Friday, July 18th. The stock was sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the completion of the transaction, the director owned 243,400 shares in the company, valued at $45,213,984. The trade was a 7.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total value of $5,801,900.00. Following the transaction, the chief executive officer owned 2,559,892 shares of the company’s stock, valued at approximately $456,991,919.84. The trade was a 1.25% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 249,409 shares of company stock valued at $43,523,710. 11.64% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on GOOGL shares. Roth Capital increased their price objective on Alphabet from $205.00 to $210.00 and gave the company a “buy” rating in a research report on Thursday. Wedbush increased their price objective on Alphabet from $200.00 to $225.00 and gave the company an “outperform” rating in a research report on Thursday. Stifel Nicolaus increased their price objective on Alphabet from $200.00 to $218.00 and gave the company a “buy” rating in a research report on Tuesday. UBS Group increased their price objective on Alphabet from $192.00 to $202.00 and gave the company a “neutral” rating in a research report on Thursday. Finally, Piper Sandler increased their price objective on Alphabet from $195.00 to $220.00 and gave the company an “overweight” rating in a research report on Thursday. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat, Alphabet has an average rating of “Moderate Buy” and an average target price of $211.32.

Alphabet Stock Performance

NASDAQ GOOGL opened at $192.17 on Friday. The company has a market cap of $2.33 trillion, a P/E ratio of 20.47, a P/E/G ratio of 1.33 and a beta of 1.00. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77. The business’s 50 day moving average price is $175.23 and its 200-day moving average price is $173.10. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $207.05.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.79. The firm had revenue of $76.49 billion for the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a return on equity of 35.22% and a net margin of 31.12%. During the same quarter in the previous year, the company posted $1.89 EPS. Sell-side analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current 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.