Arbor Trust Wealth Advisors LLC Decreases Stake in Alphabet Inc. $GOOGL

Arbor Trust Wealth Advisors LLC reduced its position in Alphabet Inc. (NASDAQ:GOOGL) by 12.5% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 23,461 shares of the information services provider’s stock after selling 3,345 shares during the period. Alphabet accounts for approximately 2.0% of Arbor Trust Wealth Advisors LLC’s portfolio, making the stock its 19th largest holding. Arbor Trust Wealth Advisors LLC’s holdings in Alphabet were worth $4,135,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Guardian Wealth Management Inc. lifted its stake in shares of Alphabet by 242.9% during the 1st 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 in the last quarter. IMA Advisory Services Inc. purchased a new position in Alphabet in the 1st quarter valued at approximately $28,000. NBZ Investment Advisors LLC raised its holdings in Alphabet by 85.7% during the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock valued at $30,000 after acquiring an additional 90 shares during the period. CarsonAllaria Wealth Management Ltd. raised its holdings in Alphabet by 36.4% during the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider’s stock valued at $44,000 after acquiring an additional 67 shares during the period. Finally, MJT & Associates Financial Advisory Group Inc. purchased a new stake in shares of Alphabet during the first quarter worth $50,000. Institutional investors own 40.03% of the company’s stock.

Analysts Set New Price Targets

GOOGL has been the subject of several recent research reports. Wolfe Research reiterated an “outperform” rating and issued a $350.00 price target (up from $290.00) on shares of Alphabet in a research report on Thursday, October 30th. Piper Sandler restated an “overweight” rating and issued a $330.00 target price (up previously from $285.00) on shares of Alphabet in a research note on Thursday, October 30th. Citizens Jmp lifted their target price on Alphabet from $250.00 to $290.00 and gave the company an “outperform” rating in a report on Friday, September 19th. Needham & Company LLC increased their price target on shares of Alphabet from $260.00 to $330.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Finally, Guggenheim raised their price objective on shares of Alphabet from $280.00 to $330.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Four analysts have rated the stock with a Strong Buy rating, thirty-eight have given a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $305.33.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $299.66 on Friday. 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 stock has a market cap of $3.62 trillion, a PE ratio of 29.55, a PEG ratio of 1.86 and a beta of 1.05. The company’s fifty day moving average is $262.39 and its 200 day moving average is $213.06. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $306.42.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (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. Research analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

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 yield of 0.3%. The ex-dividend date is Monday, December 8th. Alphabet’s dividend payout ratio (DPR) is presently 8.28%.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 2,778 shares of Alphabet stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $250.05, for a total value of $694,638.90. Following the transaction, the chief accounting officer directly owned 14,516 shares of the company’s stock, valued at $3,629,725.80. The trade was a 16.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John Kent Walker sold 17,816 shares of the business’s stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $247.42, for a total value of $4,408,034.72. Following the completion of the sale, the insider owned 42,985 shares of the company’s stock, valued at $10,635,348.70. The trade was a 29.30% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 225,174 shares of company stock worth $58,095,223 in the last ninety days. 11.64% of the stock is owned by insiders.

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.