Archer Investment Corp Has $376,000 Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Archer Investment Corp boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 5.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,665 shares of the information services provider’s stock after purchasing an additional 149 shares during the period. Archer Investment Corp’s holdings in Alphabet were worth $376,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Tandem Wealth Advisors LLC acquired a new stake in shares of Alphabet in the third quarter valued at approximately $25,000. Bruce G. Allen Investments LLC acquired a new stake in shares of Alphabet in the fourth quarter valued at approximately $26,000. HWG Holdings LP acquired a new stake in shares of Alphabet in the second quarter valued at approximately $26,000. Equitec Proprietary Markets LLC acquired a new stake in shares of Alphabet in the fourth quarter valued at approximately $28,000. Finally, Buck Wealth Strategies LLC acquired a new stake in shares of Alphabet in the third quarter valued at approximately $32,000. 27.26% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Alphabet news, SVP Prabhakar Raghavan sold 3,258 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $155.97, for a total transaction of $508,150.26. Following the transaction, the senior vice president now owns 144,685 shares in the company, valued at approximately $22,566,519.45. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, Director John L. Hennessy sold 800 shares of Alphabet stock in a transaction on Friday, April 12th. The stock was sold at an average price of $159.56, for a total value of $127,648.00. Following the transaction, the director now owns 7,991 shares in the company, valued at approximately $1,275,043.96. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Prabhakar Raghavan sold 3,258 shares of Alphabet stock in a transaction on Monday, April 1st. The shares were sold at an average price of $155.97, for a total value of $508,150.26. Following the completion of the transaction, the senior vice president now owns 144,685 shares in the company, valued at approximately $22,566,519.45. The disclosure for this sale can be found here. Insiders have sold a total of 251,339 shares of company stock worth $36,377,482 in the last 90 days. Company insiders own 12.99% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $155.72 on Friday. The firm has a market cap of $1.94 trillion, a P/E ratio of 26.85, a price-to-earnings-growth ratio of 1.45 and a beta of 1.05. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 1-year low of $103.27 and a 1-year high of $161.70. The business’s 50 day moving average is $147.46 and its 200-day moving average is $141.87.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The firm had revenue of $86.31 billion for the quarter, compared to analyst estimates of $85.28 billion. During the same quarter last year, the company earned $1.05 EPS. The company’s revenue was up 13.5% on a year-over-year basis. Equities research analysts predict that Alphabet Inc. will post 6.78 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on GOOG shares. Morgan Stanley reaffirmed an “overweight” rating and issued a $165.00 price objective on shares of Alphabet in a research report on Thursday, April 11th. Stifel Nicolaus raised their price objective on Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research report on Tuesday. Raymond James increased their target price on Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 24th. Susquehanna increased their target price on Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research note on Wednesday, January 31st. Finally, Oppenheimer increased their target price on Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research note on Monday, April 8th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $159.86.

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.