Archford Capital Strategies LLC Raises Position in Alphabet Inc. $GOOGL

Archford Capital Strategies LLC boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 4.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 62,669 shares of the information services provider’s stock after purchasing an additional 2,546 shares during the period. Alphabet makes up approximately 1.4% of Archford Capital Strategies LLC’s portfolio, making the stock its 14th biggest holding. Archford Capital Strategies LLC’s holdings in Alphabet were worth $11,044,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Brighton Jones LLC increased its stake in Alphabet by 3.9% during the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock worth $20,886,000 after buying an additional 4,110 shares during the period. Revolve Wealth Partners LLC increased its stake in Alphabet by 3.5% during the 4th quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock worth $2,826,000 after buying an additional 506 shares during the period. Rhumbline Advisers increased its stake in Alphabet by 0.8% during the 1st quarter. Rhumbline Advisers now owns 11,267,743 shares of the information services provider’s stock worth $1,742,444,000 after buying an additional 86,670 shares during the period. MKT Advisors LLC increased its stake in Alphabet by 2.6% during the 1st quarter. MKT Advisors LLC now owns 7,589 shares of the information services provider’s stock worth $1,114,000 after buying an additional 195 shares during the period. Finally, Sandbox Financial Partners LLC increased its stake in Alphabet by 0.5% during the 1st quarter. Sandbox Financial Partners LLC now owns 16,160 shares of the information services provider’s stock worth $2,499,000 after buying an additional 73 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Trading Down 0.1%

Alphabet stock opened at $245.35 on Friday. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The firm has a 50-day moving average price of $221.25 and a two-hundred day moving average price of $185.96. The firm has a market capitalization of $2.97 trillion, a price-to-earnings ratio of 26.13, a PEG ratio of 1.66 and a beta of 1.00. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $256.00.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.15 by $0.16. The firm had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.60 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. Sell-side analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Monday, September 8th. Alphabet’s payout ratio is presently 8.95%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Loop Capital reaffirmed a “hold” rating and set a $190.00 price target (up previously from $165.00) on shares of Alphabet in a research note on Tuesday, August 5th. BNP Paribas downgraded shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, June 26th. Piper Sandler boosted their target price on shares of Alphabet from $220.00 to $285.00 and gave the stock an “overweight” rating in a research report on Thursday, September 18th. Wedbush boosted their target price on shares of Alphabet from $225.00 to $245.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 3rd. Finally, DA Davidson boosted their target price on shares of Alphabet from $180.00 to $190.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 2nd. Four investment analysts have rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $240.76.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $243.41, for a total value of $7,910,825.00. Following the transaction, the chief executive officer owned 2,402,119 shares in the company, valued at approximately $584,699,785.79. This represents a 1.33% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John Kent Walker sold 17,816 shares of the company’s stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the completion of the transaction, the insider owned 42,985 shares in the company, valued at approximately $10,635,348.70. This represents a 29.30% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 276,738 shares of company stock worth $59,135,475. Company insiders own 11.64% of the company’s stock.

Alphabet Company 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.