Arvest Bank Trust Division Acquires Alphabet Inc. Shares

During the third quarter, Arvest Bank Trust Division has made a notable investment by purchasing a new position in Alphabet Inc. (NASDAQ: GOOGL - Free Report). According to the latest disclosure submitted to the Securities and Exchange Commission (SEC), the fund acquired 40,237 shares of the tech giant, which are valued at approximately $6,673,000.

Changes in Stake by Other Investors

Other significant investors have also adjusted their stakes in Alphabet. For instance, World Investment Advisors LLC increased its investment in the company's shares by 290.2% during the third quarter. After acquiring an additional 134,765 shares, this firm now owns a total of 181,209 shares, which are valued at $30,054,000. Additionally, Sanctuary Advisors LLC has raised its position in Alphabet by 13.1%, bringing its ownership to 923,329 shares valued at $152,128,000, following the purchase of 106,890 shares in the recent quarter.

Moreover, Boyar Asset Management Inc. increased its stake in Alphabet by 2.3%, now holding 9,880 shares valued at $1,639,000 after acquiring 225 additional shares last quarter. Eaton Financial Holdings Company LLC made a new investment in Alphabet worth $4,097,000 during the same period. Lastly, Fulcrum Equity Management boosted its stake in Alphabet by 42.1%, owning 2,924 shares after buying 867 additional shares during this period. Overall, approximately 40.03% of Alphabet's stock is owned by institutional investors and hedge funds.

Insights on Insider Transactions

In related news, Alphabet's CEO, Sundar Pichai, sold 22,500 shares on October 2nd for an average price of $167.07, totaling $3,759,075. Following this transaction, Pichai retains ownership of 2,129,306 shares valued at around $355,743,153.42, reflecting a 1.05% decrease in his overall position. This transaction was fully disclosed in filings with the SEC. Another insider, Director Frances Arnold, sold 441 shares on November 4th at an average price of $171.06, concluding a total transaction worth $75,437.46. Arnold now personally holds 16,490 shares valued at about $2,820,779.40, signifying a 2.60% decrease in her stake. Over the past 90 days, insiders of Alphabet have sold a total of 178,957 shares, amounting to $31,358,687. Company insiders hold 11.55% of Alphabet's total stock.

Analyst Ratings and Target Prices

Recent assessments by analysts regarding GOOGL shares have shown various updates. Piper Sandler has reaffirmed an "overweight" rating for Alphabet, adjusting the price target to $210.00 from previously $200.00. Meanwhile, Pivotal Research increased its target price from $215.00 to $225.00 while maintaining a "buy" rating in their report. Seaport Res Ptn improved its rating from a "hold" classification to a "strong-buy" rating on October 29th. Royal Bank of Canada shifted its price target upwards from $204.00 to $210.00, giving Alphabet an "outperform" rating. Furthermore, Morgan Stanley has increased its target price from $190.00 to $205.00, labeling the stock as "overweight." Currently, seven analysts rate the stock as a hold, while 31 recommend a buy and five suggest a strong buy, providing an average rating of "Moderate Buy" with a target price of $206.69.

Performance Overview of Alphabet

On the trading front, at the opening of market hours on Friday, GOOGL stock was priced at $188.51. Over the past year, Alphabet has recorded a low of $130.66 and a high of $201.42, indicating some market fluctuations. The company boasts a market capitalization of $2.31 trillion and has a PE ratio of 25.00. Its price-to-earnings-growth ratio stands at 1.39, with a beta of 1.01. The firm has a debt-to-equity ratio of 0.04 and both a current and quick ratio of 1.95. Its 50-day and 200-day simple moving averages are $173.99 and $171.21, respectively.

Recently, Alphabet announced its earnings results on October 29th, reporting earnings of $2.12 per share, outperforming the consensus estimate of $1.83 by $0.29. The company achieved a return on equity of 31.66%, with a net margin of 27.74%. Alphabet's revenue for the quarter reached $88.27 billion, exceeding analysts' expectations of $72.85 billion. In the same quarter of the previous year, the company had an EPS of $1.55. Analysts project that Alphabet Inc. will report an EPS of 8.01 for the current fiscal year.

Dividend Information

Furthermore, Alphabet has declared a quarterly dividend, which was paid out on December 16th. Shareholders who were recorded as of December 9th received a dividend of $0.20 per share. The ex-dividend date for this distribution was also December 9th. This dividend represents an annualized amount of $0.80, resulting in a yield of 0.42%. Alphabet maintains a payout ratio of 10.61%.

About Alphabet Inc.

Alphabet Inc. is a global leader in technology, providing a variety of products and platforms across regions including the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. The company operates through diverse segments such as Google Services, Google Cloud, and Other Bets. The Google Services segment includes a range of products and services like ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, YouTube, and more.

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