Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Arbor Trust Wealth Advisors LLC

Arbor Trust Wealth Advisors LLC reduced its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 5.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,055 shares of the information services provider’s stock after selling 1,432 shares during the quarter. Alphabet comprises 2.6% of Arbor Trust Wealth Advisors LLC’s investment portfolio, making the stock its 13th biggest holding. Arbor Trust Wealth Advisors LLC’s holdings in Alphabet were worth $4,928,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of GOOGL. Christopher J. Hasenberg Inc raised its holdings in Alphabet by 75.0% during the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after purchasing an additional 60 shares during the last quarter. Vermillion & White Wealth Management Group LLC acquired a new position in Alphabet during the fourth quarter worth $30,000. Tributary Capital Management LLC acquired a new position in Alphabet during the first quarter worth $30,000. Kings Path Partners LLC acquired a new position in Alphabet during the second quarter worth $36,000. Finally, CarsonAllaria Wealth Management Ltd. increased its position in Alphabet by 59.2% during the first quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock worth $44,000 after buying an additional 109 shares in the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have weighed in on GOOGL shares. UBS Group raised their price target on Alphabet from $200.00 to $204.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Royal Bank of Canada raised their price target on Alphabet from $200.00 to $204.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Guggenheim raised their price target on Alphabet from $195.00 to $205.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Wolfe Research started coverage on Alphabet in a research report on Tuesday, July 16th. They set an “outperform” rating and a $240.00 price target for the company. Finally, Wells Fargo & Company raised their price target on Alphabet from $187.00 to $190.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 24th. Eight equities research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $201.08.

Insider Buying and Selling

In related news, Director John L. Hennessy sold 800 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $153.75, for a total value of $123,000.00. Following the completion of the sale, the director now directly owns 28,524 shares of the company’s stock, valued at $4,385,565. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $177.40, for a total transaction of $3,991,500.00. Following the completion of the transaction, the chief executive officer now directly owns 2,213,011 shares of the company’s stock, valued at $392,588,151.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 800 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $153.75, for a total value of $123,000.00. Following the transaction, the director now directly owns 28,524 shares of the company’s stock, valued at $4,385,565. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 180,167 shares of company stock worth $30,139,931. 11.55% of the stock is currently owned by corporate insiders.

Alphabet Trading Up 0.8 %

Shares of GOOGL opened at $159.32 on Wednesday. The stock’s 50-day moving average is $166.25 and its two-hundred day moving average is $165.17. The stock has a market cap of $1.97 trillion, a PE ratio of 24.44, a P/E/G ratio of 1.13 and a beta of 1.04. Alphabet Inc. has a 12 month low of $120.21 and a 12 month high of $191.75. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The company had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $70.60 billion. During the same quarter in the previous year, the firm posted $1.44 earnings per share. Equities analysts forecast that Alphabet Inc. will post 7.64 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.50%. The ex-dividend date was Monday, September 9th. Alphabet’s dividend payout ratio (DPR) is 12.27%.

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.