Arbor Investment Advisors LLC Trims Stake in Alphabet Inc. $GOOGL

Arbor Investment Advisors LLC reduced its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 25.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,500 shares of the information services provider’s stock after selling 516 shares during the period. Arbor Investment Advisors LLC’s holdings in Alphabet were worth $264,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in GOOGL. Guardian Wealth Management Inc. increased its holdings in Alphabet by 242.9% during the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock valued at $26,000 after buying an additional 119 shares during the last quarter. von Borstel & Associates Inc. purchased a new stake in Alphabet during the first quarter valued at approximately $28,000. IMA Advisory Services Inc. purchased a new stake in Alphabet during the first quarter valued at approximately $28,000. NBZ Investment Advisors LLC increased its holdings in Alphabet by 85.7% during the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock valued at $30,000 after buying an additional 90 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. bought a new position in shares of Alphabet in the first quarter worth approximately $39,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Alphabet

In other Alphabet news, insider John Kent Walker sold 23,820 shares of the stock in a transaction on Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the transaction, the insider owned 42,999 shares in the company, valued at $8,371,905.30. This trade represents a 35.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $249.50, for a total transaction of $8,108,750.00. Following the transaction, the chief executive officer owned 2,397,392 shares of the company’s stock, valued at $598,149,304. This trade represents a 1.34% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 246,150 shares of company stock worth $55,805,379 over the last 90 days. 11.64% of the stock is owned by insiders.

Wall Street Analyst Weigh In

GOOGL has been the subject of a number of recent analyst reports. Royal Bank Of Canada reiterated a “buy” rating on shares of Alphabet in a research report on Thursday. BNP Paribas Exane upped their price target on shares of Alphabet from $187.00 to $247.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 21st. Deutsche Bank Aktiengesellschaft upped their price target on shares of Alphabet from $260.00 to $340.00 and gave the stock a “buy” rating in a research report on Thursday. DA Davidson upped their price target on shares of Alphabet from $190.00 to $300.00 and gave the stock a “neutral” rating in a research report on Thursday. Finally, Truist Financial upped their price target on shares of Alphabet from $285.00 to $320.00 and gave the stock a “buy” rating in a research report on Thursday. Three investment analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and an average target price of $301.32.

Alphabet Price Performance

GOOGL stock opened at $281.48 on Friday. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $291.59. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The company has a fifty day simple moving average of $242.49 and a two-hundred day simple moving average of $198.83. The firm has a market capitalization of $3.40 trillion, a P/E ratio of 27.76, a price-to-earnings-growth ratio of 1.86 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, beating the consensus estimate of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The business had revenue of $102.35 billion during the quarter, compared to analyst estimates of $99.90 billion. Analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

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.