Alphabet Inc. $GOOG Shares Sold by Arcadia Investment Management Corp MI

Arcadia Investment Management Corp MI decreased its position in Alphabet Inc. (NASDAQ:GOOG) by 1.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 47,236 shares of the information services provider’s stock after selling 540 shares during the period. Alphabet makes up about 1.3% of Arcadia Investment Management Corp MI’s portfolio, making the stock its 25th biggest holding. Arcadia Investment Management Corp MI’s holdings in Alphabet were worth $8,379,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GOOG. Vanguard Group Inc. lifted its stake in Alphabet by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider’s stock valued at $64,299,725,000 after acquiring an additional 9,687,855 shares during the period. Kingstone Capital Partners Texas LLC raised its holdings in shares of Alphabet by 580,897.4% during the second quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider’s stock worth $23,963,208,000 after purchasing an additional 135,064,454 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Alphabet by 0.4% during the second quarter. Geode Capital Management LLC now owns 107,760,033 shares of the information services provider’s stock worth $19,022,926,000 after purchasing an additional 441,177 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Alphabet by 9.9% during the first quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider’s stock valued at $15,971,861,000 after purchasing an additional 9,243,959 shares during the period. Finally, Deutsche Bank AG boosted its holdings in Alphabet by 5.4% in the first quarter. Deutsche Bank AG now owns 21,345,784 shares of the information services provider’s stock valued at $3,334,852,000 after purchasing an additional 1,098,996 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Activity at Alphabet

In other news, CAO Amie Thuener O’toole sold 2,778 shares of the firm’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $245.00, for a total value of $680,610.00. Following the transaction, the chief accounting officer owned 17,293 shares in the company, valued at $4,236,785. This trade represents a 13.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $250.15, for a total value of $8,129,875.00. Following the sale, the chief executive officer owned 2,369,619 shares of the company’s stock, valued at $592,760,192.85. The trade was a 1.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 221,796 shares of company stock valued at $53,983,001. 12.99% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

GOOG has been the subject of a number of recent research reports. Cantor Fitzgerald set a $310.00 price objective on Alphabet and gave the company a “neutral” rating in a research note on Thursday, October 30th. DA Davidson set a $825.00 price target on Alphabet in a research report on Monday, October 27th. Mizuho set a $325.00 price target on Alphabet in a report on Thursday, October 30th. Wolfe Research upped their price objective on Alphabet from $290.00 to $350.00 and gave the stock an “outperform” rating in a research report on Thursday, October 30th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Alphabet in a report on Wednesday, October 8th. Six research analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $324.81.

Alphabet Trading Down 0.8%

Shares of NASDAQ:GOOG opened at $276.98 on Friday. The business’s 50 day moving average price is $257.84 and its 200-day moving average price is $209.48. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $292.36. The firm has a market capitalization of $3.34 trillion, a price-to-earnings ratio of 27.32, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Thursday, October 30th. The information services provider reported $2.87 EPS for the quarter, topping the consensus estimate of $2.29 by $0.58. The company had revenue of $102.35 billion during the quarter, compared to analyst estimates of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The firm’s revenue was up 15.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.12 EPS. On average, equities research analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Monday, December 8th. Alphabet’s dividend payout ratio is 8.28%.

About Alphabet

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.