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Arkos Global Advisors Acquires Shares of 3,995 Alphabet Inc. $GOOG

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Key Points

  • Arkos Global Advisors opened a new position in Alphabet (GOOG) in Q3, acquiring 3,995 shares valued at about $973,000.
  • CEO Sundar Pichai sold 32,500 shares on March 4 for roughly $9.86 million, and insiders have sold 2,112,493 shares in the past 90 days while owning 12.99% of the company.
  • Alphabet beat quarterly estimates with EPS $2.82 vs. $2.59 and revenue of $113.83 billion (+18% YoY), and declared a quarterly dividend of $0.21 per share (annualized $0.84, ~0.3% yield).
  • Five stocks to consider instead of Alphabet.

Arkos Global Advisors acquired a new position in Alphabet Inc. (NASDAQ:GOOG - Free Report) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 3,995 shares of the information services provider's stock, valued at approximately $973,000.

Several other hedge funds have also modified their holdings of GOOG. Robinson Smith Wealth Advisors LLC raised its holdings in Alphabet by 1.8% in the 3rd quarter. Robinson Smith Wealth Advisors LLC now owns 2,070 shares of the information services provider's stock worth $504,000 after purchasing an additional 36 shares during the period. Searle & CO. raised its position in shares of Alphabet by 0.6% during the 3rd quarter. Searle & CO. now owns 5,703 shares of the information services provider's stock worth $1,389,000 after purchasing an additional 36 shares during the last quarter. Navellier & Associates Inc. lifted its stake in Alphabet by 0.6% in the 3rd quarter. Navellier & Associates Inc. now owns 5,846 shares of the information services provider's stock valued at $1,424,000 after buying an additional 36 shares in the last quarter. BankPlus Wealth Management LLC lifted its stake in Alphabet by 1.2% in the 3rd quarter. BankPlus Wealth Management LLC now owns 3,143 shares of the information services provider's stock valued at $766,000 after buying an additional 37 shares in the last quarter. Finally, Activest Wealth Management boosted its holdings in Alphabet by 0.5% in the 3rd quarter. Activest Wealth Management now owns 7,997 shares of the information services provider's stock worth $1,948,000 after buying an additional 38 shares during the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Trending Headlines about Alphabet

Here are the key news stories impacting Alphabet this week:

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $303.38, for a total transaction of $9,859,850.00. Following the transaction, the chief executive officer directly owned 1,674,560 shares in the company, valued at $508,028,012.80. This represents a 1.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Frances Arnold sold 112 shares of the firm's stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $302.99, for a total value of $33,934.88. Following the transaction, the director owned 18,418 shares of the company's stock, valued at approximately $5,580,469.82. This represents a 0.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 2,112,493 shares of company stock worth $118,605,094. Insiders own 12.99% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on GOOG shares. BNP Paribas Exane began coverage on Alphabet in a research note on Monday, November 24th. They set an "outperform" rating for the company. Citigroup reaffirmed a "market outperform" rating on shares of Alphabet in a research note on Wednesday, December 17th. Truist Financial set a $350.00 price objective on Alphabet in a research note on Friday, December 5th. Guggenheim restated a "buy" rating and issued a $375.00 price objective on shares of Alphabet in a report on Monday, December 1st. Finally, Pivotal Research reaffirmed a "buy" rating and set a $420.00 target price (up from $400.00) on shares of Alphabet in a research note on Thursday, February 5th. Nine analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $345.71.

Check Out Our Latest Analysis on GOOG

Alphabet Stock Performance

Shares of Alphabet stock opened at $301.46 on Friday. The firm has a market cap of $3.65 trillion, a PE ratio of 27.89, a price-to-earnings-growth ratio of 1.76 and a beta of 1.10. The company has a quick ratio of 2.01, a current ratio of 2.01 and a debt-to-equity ratio of 0.11. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $350.15. The business's fifty day simple moving average is $319.36 and its 200-day simple moving average is $290.32.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its quarterly earnings data on Thursday, February 5th. The information services provider reported $2.82 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.59 by $0.23. Alphabet had a return on equity of 35.01% and a net margin of 32.81%.The firm had revenue of $113.83 billion during the quarter, compared to the consensus estimate of $111.24 billion. During the same period last year, the company earned $2.15 EPS. The company's quarterly revenue was up 18.0% on a year-over-year basis. Equities analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 9th will be given a dividend of $0.21 per share. The ex-dividend date is Monday, March 9th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet's dividend payout ratio (DPR) is currently 7.77%.

Alphabet Company Profile

(Free Report)

Alphabet Inc NASDAQ: GOOG is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as "Other Bets." Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company's history.

Alphabet's core business centers on internet search and advertising, with Google Search and the company's ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.

Further Reading

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:GOOG - Free Report).

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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