J Arnold Wealth Management Co Invests $473,000 in Alphabet Inc. (NASDAQ:GOOG)

J Arnold Wealth Management Co bought a new position in shares of Alphabet Inc. (NASDAQ:GOOG) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 3,355 shares of the information services provider’s stock, valued at approximately $473,000. Alphabet makes up about 0.2% of J Arnold Wealth Management Co’s investment portfolio, making the stock its 25th biggest position.

Several other large investors also recently modified their holdings of GOOG. Dixon Mitchell Investment Counsel Inc. lifted its position in shares of Alphabet by 1.9% during the 4th quarter. Dixon Mitchell Investment Counsel Inc. now owns 7,207 shares of the information services provider’s stock worth $1,016,000 after buying an additional 137 shares during the last quarter. Canvas Wealth Advisors LLC lifted its position in shares of Alphabet by 7.1% during the 4th quarter. Canvas Wealth Advisors LLC now owns 8,581 shares of the information services provider’s stock worth $1,238,000 after buying an additional 571 shares during the last quarter. Trust Co of the South bought a new stake in shares of Alphabet during the 4th quarter worth $1,162,000. Smith Anglin Financial LLC lifted its position in shares of Alphabet by 6.9% during the 4th quarter. Smith Anglin Financial LLC now owns 3,159 shares of the information services provider’s stock worth $445,000 after buying an additional 205 shares during the last quarter. Finally, D. Scott Neal Inc. lifted its position in shares of Alphabet by 94.2% during the 4th quarter. D. Scott Neal Inc. now owns 4,000 shares of the information services provider’s stock worth $564,000 after buying an additional 1,940 shares during the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CAO Amie Thuener O’toole sold 425 shares of the stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $139.61, for a total value of $59,334.25. Following the completion of the sale, the chief accounting officer now owns 27,259 shares of the company’s stock, valued at $3,805,628.99. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director John L. Hennessy sold 200 shares of the firm’s stock in a transaction that occurred on Wednesday, January 10th. The stock was sold at an average price of $143.49, for a total transaction of $28,698.00. Following the completion of the sale, the director now owns 6,784 shares of the company’s stock, valued at $973,436.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 425 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $139.61, for a total value of $59,334.25. Following the sale, the chief accounting officer now directly owns 27,259 shares of the company’s stock, valued at approximately $3,805,628.99. The disclosure for this sale can be found here. Over the last quarter, insiders sold 279,659 shares of company stock valued at $39,460,310. Company insiders own 12.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Susquehanna increased their target price on Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a research report on Wednesday, January 31st. Raymond James increased their target price on Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a research report on Wednesday, January 24th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $146.33.

Alphabet Trading Down 0.4 %

Alphabet stock traded down $0.56 during trading hours on Wednesday, hitting $151.14. The stock had a trading volume of 3,727,077 shares, compared to its average volume of 22,934,617. The stock has a market cap of $1.88 trillion, a price-to-earnings ratio of 26.16, a P/E/G ratio of 1.40 and a beta of 1.05. The business’s 50 day simple moving average is $144.41 and its 200-day simple moving average is $139.20. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a one year low of $100.28 and a one year high of $155.20.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.04. The company had revenue of $86.31 billion during the quarter, compared to analysts’ expectations of $85.28 billion. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The business’s quarterly revenue was up 13.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.05 earnings per share. On average, equities analysts predict that Alphabet Inc. will post 6.77 EPS for the current fiscal 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.