Alphabet Inc. (NASDAQ:GOOGL) Shares Bought by Arbor Capital Management Inc. ADV

Arbor Capital Management Inc. ADV boosted its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,452 shares of the information services provider’s stock after buying an additional 415 shares during the period. Alphabet accounts for approximately 1.7% of Arbor Capital Management Inc. ADV’s portfolio, making the stock its 19th biggest holding. Arbor Capital Management Inc. ADV’s holdings in Alphabet were worth $1,787,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in GOOGL. Anderson Financial Strategies LLC purchased a new position in shares of Alphabet in the 4th quarter valued at approximately $49,000. Navigoe LLC purchased a new position in shares of Alphabet in the 4th quarter valued at approximately $51,000. Prudent Man Investment Management Inc. purchased a new position in shares of Alphabet in the 4th quarter valued at approximately $53,000. Campbell Capital Management Inc. purchased a new position in shares of Alphabet in the 4th quarter valued at approximately $57,000. Finally, EQ Wealth Advisors LLC purchased a new position in shares of Alphabet in the 1st quarter valued at approximately $49,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Activity

In related news, Director John L. Hennessy sold 600 shares of the business’s stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $105,000.00. Following the completion of the transaction, the director owned 6,813 shares in the company, valued at $1,192,275. The trade was a 8.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total value of $5,801,900.00. Following the transaction, the chief executive officer owned 2,559,892 shares of the company’s stock, valued at $456,991,919.84. This represents a 1.25% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 215,643 shares of company stock worth $36,330,928. 11.55% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on GOOGL. Truist Financial restated a “buy” rating and issued a $200.00 price target on shares of Alphabet in a research note on Wednesday, July 2nd. Wedbush set a $190.00 price target on Alphabet and gave the company an “outperform” rating in a research note on Tuesday, April 15th. Bank of America lifted their price target on Alphabet from $185.00 to $200.00 and gave the company a “buy” rating in a research note on Friday, April 25th. Oppenheimer lifted their price target on Alphabet from $185.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, April 25th. Finally, Jefferies Financial Group decreased their price target on Alphabet from $235.00 to $200.00 and set a “buy” rating on the stock in a research note on Monday, March 31st. Ten analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $199.95.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $176.79 on Tuesday. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $207.05. The business has a 50 day moving average price of $169.03 and a two-hundred day moving average price of $173.67. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03. The firm has a market cap of $2.15 trillion, a PE ratio of 19.71, a price-to-earnings-growth ratio of 1.26 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating analysts’ consensus estimates of $2.02 by $0.79. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The firm had revenue of $76.49 billion during the quarter, compared to analyst estimates of $89.30 billion. During the same quarter last year, the firm earned $1.89 EPS. Sell-side analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.48%. This is an increase from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date was Monday, June 9th. Alphabet’s payout ratio is 9.36%.

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.