Arbor Trust Wealth Advisors LLC Boosts Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Arbor Trust Wealth Advisors LLC increased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 28,162 shares of the information services provider’s stock after purchasing an additional 465 shares during the quarter. Alphabet accounts for approximately 2.3% of Arbor Trust Wealth Advisors LLC’s holdings, making the stock its 14th biggest position. Arbor Trust Wealth Advisors LLC’s holdings in Alphabet were worth $3,934,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of GOOGL. Allen Capital Group LLC boosted its position in shares of Alphabet by 3.8% during the 4th quarter. Allen Capital Group LLC now owns 37,111 shares of the information services provider’s stock worth $5,184,000 after purchasing an additional 1,368 shares in the last quarter. Macroview Investment Management LLC boosted its holdings in Alphabet by 267.7% during the fourth quarter. Macroview Investment Management LLC now owns 1,173 shares of the information services provider’s stock worth $164,000 after buying an additional 854 shares in the last quarter. Eagle Bluffs Wealth Management LLC grew its position in Alphabet by 0.9% during the fourth quarter. Eagle Bluffs Wealth Management LLC now owns 19,427 shares of the information services provider’s stock worth $2,714,000 after buying an additional 170 shares during the period. Wealth Alliance increased its holdings in Alphabet by 4.2% in the fourth quarter. Wealth Alliance now owns 39,115 shares of the information services provider’s stock valued at $5,464,000 after buying an additional 1,586 shares in the last quarter. Finally, Cookson Peirce & Co. Inc. boosted its position in Alphabet by 16.0% during the fourth quarter. Cookson Peirce & Co. Inc. now owns 4,053 shares of the information services provider’s stock worth $566,000 after purchasing an additional 559 shares in the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CAO Amie Thuener O’toole sold 660 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $143.59, for a total value of $94,769.40. Following the completion of the sale, the chief accounting officer now directly owns 27,920 shares of the company’s stock, valued at $4,009,032.80. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $146.29, for a total transaction of $3,291,525.00. Following the transaction, the chief executive officer now owns 2,377,691 shares of the company’s stock, valued at approximately $347,832,416.39. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 660 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $143.59, for a total transaction of $94,769.40. Following the completion of the sale, the chief accounting officer now directly owns 27,920 shares of the company’s stock, valued at $4,009,032.80. The disclosure for this sale can be found here. Insiders sold a total of 251,339 shares of company stock valued at $36,377,482 in the last ninety days. Corporate insiders own 0.88% of the company’s stock.

Analyst Upgrades and Downgrades

GOOGL has been the subject of several research reports. Citigroup restated a “buy” rating and set a $168.00 price objective on shares of Alphabet in a research report on Wednesday, April 10th. Jefferies Financial Group upped their price objective on Alphabet from $175.00 to $180.00 and gave the company a “buy” rating in a research report on Friday, April 19th. UBS Group lifted their price objective on Alphabet from $150.00 to $166.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 16th. Truist Financial upped their target price on shares of Alphabet from $158.00 to $170.00 and gave the company a “buy” rating in a report on Wednesday, April 17th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $160.00 price target on shares of Alphabet in a report on Wednesday, January 31st. Five research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and a consensus price target of $158.71.

Alphabet Stock Up 0.5 %

Shares of NASDAQ GOOGL opened at $159.13 on Thursday. The firm has a market cap of $1.98 trillion, a price-to-earnings ratio of 27.44, a PEG ratio of 1.44 and a beta of 1.05. Alphabet Inc. has a 1 year low of $102.63 and a 1 year high of $160.22. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.10. The stock’s 50-day simple moving average is $146.96 and its 200-day simple moving average is $141.06.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The company had revenue of $86.31 billion for the quarter, compared to analyst estimates of $70.77 billion. During the same period in the prior year, the company posted $1.05 EPS. As a group, equities analysts anticipate that Alphabet Inc. will post 6.78 earnings per share for the current fiscal year.

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.