Arcadia Investment Management Corp MI Sells 3,082 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Arcadia Investment Management Corp MI lessened its stake in Alphabet Inc. (NASDAQ:GOOGL) by 3.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 94,227 shares of the information services provider’s stock after selling 3,082 shares during the period. Alphabet accounts for 2.6% of Arcadia Investment Management Corp MI’s portfolio, making the stock its 13th largest holding. Arcadia Investment Management Corp MI’s holdings in Alphabet were worth $14,571,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of GOOGL. von Borstel & Associates Inc. bought a new stake in Alphabet during the 1st quarter worth approximately $28,000. Elite Financial Inc. bought a new stake in shares of Alphabet during the first quarter worth $42,000. Anderson Financial Strategies LLC acquired a new stake in shares of Alphabet during the fourth quarter worth $49,000. EQ Wealth Advisors LLC bought a new stake in Alphabet in the 1st quarter valued at $49,000. Finally, Navigoe LLC acquired a new position in Alphabet in the 4th quarter worth $51,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on GOOGL shares. BMO Capital Markets increased their price objective on Alphabet from $200.00 to $208.00 and gave the stock an “outperform” rating in a report on Tuesday. KeyCorp raised their price target on shares of Alphabet from $185.00 to $195.00 and gave the stock an “overweight” rating in a research note on Friday, April 25th. Jefferies Financial Group cut their price objective on shares of Alphabet from $235.00 to $200.00 and set a “buy” rating on the stock in a research report on Monday, March 31st. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $200.00 target price on shares of Alphabet in a research report on Wednesday, April 23rd. Finally, Rosenblatt Securities reiterated a “neutral” rating and issued a $189.00 price target on shares of Alphabet in a research note on Wednesday, May 21st. Ten investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and a consensus target price of $199.82.

Insider Buying and Selling

In other news, Director Kavitark Ram Shriram sold 9,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $1,575,000.00. Following the completion of the transaction, the director owned 255,400 shares of the company’s stock, valued at approximately $44,695,000. This trade represents a 3.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction 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 completion of the transaction, the chief executive officer owned 2,559,892 shares of the company’s stock, valued at approximately $456,991,919.84. This trade represents a 1.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 182,943 shares of company stock worth $31,223,348. Insiders own 11.55% of the company’s stock.

Alphabet Stock Performance

Shares of Alphabet stock opened at $182.00 on Wednesday. The company has a 50 day moving average price of $171.04 and a 200 day moving average price of $173.13. The firm has a market capitalization of $2.21 trillion, a P/E ratio of 20.29, a PEG ratio of 1.27 and a beta of 1.00. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $207.05.

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

Alphabet Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were paid a dividend of $0.21 per share. The ex-dividend date was Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a yield of 0.46%. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s payout ratio is 9.36%.

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.