Arvest Investments Inc. Buys 8,925 Shares of Alphabet Inc. $GOOGL

Key Points

• Arvest Investments Inc. has increased its holdings in Alphabet Inc. by 55.1% in the second quarter, now owning a total of 25,114 shares valued at approximately $4.43 million.
• Insider transactions included Director Kavitark Ram Shriram selling 18,566 shares and CEO Sundar Pichai selling 32,500 shares, indicating a decrease in their ownership percentages.
• Analysts have set new price targets for Alphabet with significant adjustments; for example, Tigress Financial raised their target to $280, while JPMorgan Chase increased theirs to $232.

Arvest Investments Inc. raised its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 55.1% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 25,114 shares of the information services provider's stock after acquiring an additional 8,925 shares during the quarter. Arvest Investments Inc.'s holdings in Alphabet were worth $4,426,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Guardian Wealth Management Inc. increased its position in Alphabet by 242.9% in the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock valued at $26,000 after acquiring an additional 119 shares during the period. von Borstel & Associates Inc. acquired a new position in Alphabet in the 1st quarter valued at approximately $28,000. IMA Advisory Services Inc. acquired a new position in Alphabet in the 1st quarter valued at approximately $28,000. NBZ Investment Advisors LLC increased its position in Alphabet by 85.7% in the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider's stock valued at $30,000 after acquiring an additional 90 shares during the period. Finally, Financial Gravity Asset Management Inc. acquired a new position in Alphabet in the 1st quarter valued at approximately $39,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 18,566 shares of the firm's stock in a transaction on Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $3,448,820.16. Following the transaction, the director directly owned 243,400 shares of the company's stock, valued at approximately $45,213,984. This trade represents a 7.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $199.92, for a total transaction of $6,497,400.00. Following the completion of the transaction, the chief executive officer directly owned 2,462,392 shares in the company, valued at $492,281,408.64. This trade represents a 1.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 254,710 shares of company stock valued at $49,208,380 in the last ninety days. Insiders own 11.64% of the company's stock.

Analysts Set New Price Targets

GOOGL has been the subject of several recent research reports. Tigress Financial upped their price target on shares of Alphabet from $240.00 to $280.00 and gave the company a "strong-buy" rating in a research report on Friday, September 5th. BNP Paribas Exane reiterated a "neutral" rating and set a $172.00 price objective on shares of Alphabet in a research report on Friday, June 27th. DA Davidson increased their price objective 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. Barclays increased their price objective on shares of Alphabet from $235.00 to $250.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 3rd. Finally, JPMorgan Chase & Co. increased their price objective on shares of Alphabet from $200.00 to $232.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Three analysts have rated the stock with a Strong Buy rating, thirty-two have issued a Buy rating and ten have assigned a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $221.44.

Alphabet Stock Up 0.2%

Shares of NASDAQ GOOGL opened at $240.80 on Friday. The firm has a market cap of $2.91 trillion, a PE ratio of 25.64, a P/E/G ratio of 1.62 and a beta of 1.01. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $242.25. The company's fifty day simple moving average is $201.89 and its 200 day simple moving average is $177.51. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.16. The business had revenue of $96.43 billion for 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%. As a group, sell-side analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.3%. Alphabet's dividend payout ratio is currently 8.95%.

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.

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