Alphabet Inc. (NASDAQ:GOOG) Shares Bought by Arbor Trust Wealth Advisors LLC

Arbor Trust Wealth Advisors LLC boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 4.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,294 shares of the information services provider’s stock after purchasing an additional 194 shares during the period. Arbor Trust Wealth Advisors LLC’s holdings in Alphabet were worth $788,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Vance Wealth Inc. increased its holdings in shares of Alphabet by 4.5% in the second quarter. Vance Wealth Inc. now owns 2,971 shares of the information services provider’s stock valued at $545,000 after buying an additional 129 shares in the last quarter. Mattern Capital Management LLC raised its position in shares of Alphabet by 12.0% during the second quarter. Mattern Capital Management LLC now owns 5,226 shares of the information services provider’s stock worth $959,000 after purchasing an additional 560 shares during the period. Pursue Wealth Partners LLC raised its position in shares of Alphabet by 3.6% during the second quarter. Pursue Wealth Partners LLC now owns 29,480 shares of the information services provider’s stock worth $5,407,000 after purchasing an additional 1,031 shares during the period. GPM Growth Investors Inc. acquired a new position in shares of Alphabet in the 2nd quarter valued at $494,000. Finally, Index Fund Advisors Inc. increased its stake in Alphabet by 9.8% in the 2nd quarter. Index Fund Advisors Inc. now owns 2,900 shares of the information services provider’s stock worth $532,000 after purchasing an additional 260 shares in the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Alphabet Trading Down 4.1 %

NASDAQ GOOG opened at $152.13 on Friday. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 1-year low of $121.46 and a 1-year high of $193.31. The firm’s fifty day simple moving average is $172.50 and its 200-day simple moving average is $165.62. The company has a market capitalization of $1.88 trillion, a PE ratio of 23.33, a price-to-earnings-growth ratio of 1.22 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.04. The company had revenue of $84.74 billion for the quarter, compared to analyst estimates of $84.22 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The business’s revenue was up 13.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.44 EPS. As a group, sell-side analysts anticipate that Alphabet Inc. will post 7.63 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 9th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date of this dividend is Monday, September 9th. Alphabet’s dividend payout ratio is presently 12.27%.

Analyst Ratings Changes

A number of research firms have commented on GOOG. TD Cowen upped their price objective on shares of Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Cantor Fitzgerald raised shares of Alphabet to a “hold” rating in a research note on Thursday. Rosenblatt Securities cut shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective on the stock. in a research report on Friday, June 28th. Wolfe Research upgraded Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. Finally, Oppenheimer lifted their price target on Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $182.86.

Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the firm’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 value of $3,991,500.00. Following the transaction, the chief executive officer now directly owns 2,213,011 shares of the company’s stock, valued at approximately $392,588,151.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $177.40, for a total value of $3,991,500.00. Following the transaction, the chief executive officer now owns 2,213,011 shares of the company’s stock, valued at $392,588,151.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total transaction of $125,126.54. Following the completion of the sale, the chief accounting officer now owns 30,650 shares of the company’s stock, valued at $5,623,355.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 200,532 shares of company stock worth $34,055,874. 12.99% of the stock is owned by corporate insiders.

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.