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

Archford Capital Strategies LLC increased its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 3.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,208 shares of the information services provider’s stock after buying an additional 823 shares during the period. Archford Capital Strategies LLC’s holdings in Alphabet were worth $4,610,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. IMS Capital Management increased its stake in shares of Alphabet by 4.4% in the second quarter. IMS Capital Management now owns 33,745 shares of the information services provider’s stock worth $5,702,000 after buying an additional 1,426 shares during the last quarter. Advisory Alpha LLC raised its stake in Alphabet by 9.2% during the second quarter. Advisory Alpha LLC now owns 15,536 shares of the information services provider’s stock valued at $2,850,000 after buying an additional 1,310 shares in the last quarter. Ted Buchan & Co acquired a new stake in shares of Alphabet during the 2nd quarter valued at approximately $2,930,000. Granite Bay Wealth Management LLC boosted its holdings in Alphabet by 8.4% in the second quarter. Granite Bay Wealth Management LLC now owns 28,585 shares of the information services provider’s stock worth $5,243,000 after purchasing an additional 2,219 shares during the period. Finally, SPC Financial Inc. bought a new stake in Alphabet during the second quarter valued at $287,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Buying and Selling

In related news, insider John Kent Walker sold 16,820 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $192.62, for a total value of $3,239,868.40. Following the transaction, the insider now directly owns 43,981 shares of the company’s stock, valued at approximately $8,471,620.22. This trade represents a 27.66 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 2,834 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $197.55, for a total value of $559,856.70. Following the completion of the sale, the chief accounting officer now owns 20,681 shares of the company’s stock, valued at approximately $4,085,531.55. This trade represents a 12.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 122,887 shares of company stock worth $22,470,464. Insiders own 12.99% of the company’s stock.

Alphabet Trading Up 1.7 %

Shares of NASDAQ:GOOG opened at $197.07 on Wednesday. The firm has a market capitalization of $2.41 trillion, a P/E ratio of 26.14, a price-to-earnings-growth ratio of 1.27 and a beta of 0.99. Alphabet Inc. has a 12-month low of $131.55 and a 12-month high of $203.84. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The firm has a fifty day moving average of $188.29 and a two-hundred day moving average of $175.13.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The company had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The business’s quarterly revenue was up 15.1% on a year-over-year basis. During the same period last year, the business earned $1.55 EPS. On average, equities analysts expect that Alphabet Inc. will post 8.02 EPS for the current fiscal year.

Wall Street Analyst Weigh In

GOOG has been the topic of a number of research reports. JPMorgan Chase & Co. increased their price target on Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. UBS Group boosted their target price on shares of Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Barclays raised their price target on shares of Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Scotiabank increased their price target on Alphabet from $212.00 to $240.00 and gave the stock a “sector outperform” rating in a research note on Friday, January 24th. Finally, Citigroup upped their price objective on shares of Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Six analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $205.13.

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.