Arbor Trust Wealth Advisors LLC Buys 25,561 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Arbor Trust Wealth Advisors LLC grew its stake in shares of Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 1,883.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,918 shares of the information services provider’s stock after purchasing an additional 25,561 shares during the period. Alphabet makes up 2.0% of Arbor Trust Wealth Advisors LLC’s investment portfolio, making the stock its 16th largest holding. Arbor Trust Wealth Advisors LLC’s holdings in Alphabet were worth $2,577,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently modified their holdings of the company. Louisiana State Employees Retirement System bought a new stake in shares of Alphabet during the 3rd quarter valued at about $55,305,000. Griffin Asset Management Inc. lifted its position in Alphabet by 1,900.0% during the 3rd quarter. Griffin Asset Management Inc. now owns 52,240 shares of the information services provider’s stock valued at $4,997,000 after acquiring an additional 49,628 shares during the period. Farmers Trust Co. lifted its position in Alphabet by 2.2% during the 2nd quarter. Farmers Trust Co. now owns 5,924 shares of the information services provider’s stock valued at $12,910,000 after acquiring an additional 129 shares during the period. Ziegler Capital Management LLC lifted its position in Alphabet by 62.3% during the 2nd quarter. Ziegler Capital Management LLC now owns 33,282 shares of the information services provider’s stock valued at $72,531,000 after acquiring an additional 12,774 shares during the period. Finally, Wilkinson Global Asset Management LLC lifted its position in Alphabet by 1,900.0% during the 3rd quarter. Wilkinson Global Asset Management LLC now owns 6,460 shares of the information services provider’s stock valued at $618,000 after acquiring an additional 6,137 shares during the period. Institutional investors own 34.06% of the company’s stock.

Insider Activity

In other news, CAO Amie Thuener O’toole sold 855 shares of the business’s stock in a transaction dated Wednesday, November 2nd. The stock was sold at an average price of $90.85, for a total value of $77,676.75. Following the transaction, the chief accounting officer now directly owns 24,694 shares in the company, valued at $2,243,449.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CAO Amie Thuener O’toole sold 855 shares of the business’s stock in a transaction dated Wednesday, November 2nd. The stock was sold at an average price of $90.85, for a total value of $77,676.75. Following the transaction, the chief accounting officer now directly owns 24,694 shares in the company, valued at $2,243,449.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ann Mather sold 280 shares of Alphabet stock in a transaction dated Tuesday, October 25th. The stock was sold at an average price of $103.23, for a total value of $28,904.40. Following the completion of the sale, the director now directly owns 11,200 shares in the company, valued at $1,156,176. The disclosure for this sale can be found here. Over the last ninety days, insiders have acquired 1,461,702 shares of company stock worth $36,999,217 and have sold 190,744 shares worth $8,564,640. Company insiders own 11.44% of the company’s stock.

Alphabet Price Performance

NASDAQ GOOGL opened at $91.52 on Thursday. The business’s fifty day moving average is $92.56 and its 200 day moving average is $102.52. Alphabet Inc. has a fifty-two week low of $83.34 and a fifty-two week high of $151.55. The company has a market capitalization of $1.18 trillion, a PE ratio of 18.17, a price-to-earnings-growth ratio of 1.53 and a beta of 1.09. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.47 and a current ratio of 2.52.

Alphabet (NASDAQ:GOOGLGet Rating) last announced its quarterly earnings data on Tuesday, October 25th. The information services provider reported $1.06 EPS for the quarter, missing the consensus estimate of $1.25 by ($0.19). Alphabet had a net margin of 23.75% and a return on equity of 26.41%. The business had revenue of $57.27 billion during the quarter, compared to analysts’ expectations of $58.36 billion. During the same quarter in the previous year, the firm earned $1.40 earnings per share. Sell-side analysts predict that Alphabet Inc. will post 4.68 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Wells Fargo & Company lowered their price target on shares of Alphabet from $160.00 to $145.00 and set an “overweight” rating for the company in a research report on Wednesday, October 26th. Evercore ISI decreased their target price on shares of Alphabet from $130.00 to $120.00 and set an “outperform” rating for the company in a report on Wednesday, December 21st. JMP Securities decreased their target price on shares of Alphabet from $145.00 to $132.00 in a report on Wednesday, November 23rd. Truist Financial decreased their target price on shares of Alphabet from $136.00 to $130.00 and set a “buy” rating for the company in a report on Wednesday, October 26th. Finally, Rosenblatt Securities decreased their target price on shares of Alphabet from $156.00 to $130.00 and set a “buy” rating for the company in a report on Wednesday, October 26th. Five equities research analysts have rated the stock with a hold rating, thirty-two have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $132.00.

Alphabet Company Profile

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Alphabet Inc provides 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 offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

See Also

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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