Arcadia Investment Management Corp MI Sells 1,106 Shares of Alphabet Inc. $GOOGL

Arcadia Investment Management Corp MI trimmed its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 1.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 93,121 shares of the information services provider’s stock after selling 1,106 shares during the quarter. Alphabet makes up approximately 2.6% of Arcadia Investment Management Corp MI’s holdings, making the stock its 12th biggest position. Arcadia Investment Management Corp MI’s holdings in Alphabet were worth $16,411,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Guardian Wealth Management Inc. increased its holdings in Alphabet by 242.9% in the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock valued at $26,000 after acquiring an additional 119 shares during the last quarter. IMA Advisory Services Inc. purchased a new position in shares of Alphabet during the first quarter valued at about $28,000. NBZ Investment Advisors LLC grew its position in shares of 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 purchasing an additional 90 shares in the last quarter. CarsonAllaria Wealth Management Ltd. increased its holdings in shares of Alphabet by 36.4% in the second quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider’s stock worth $44,000 after purchasing an additional 67 shares during the last quarter. Finally, MJT & Associates Financial Advisory Group Inc. purchased a new stake in shares of Alphabet in the first quarter worth about $50,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Performance

Shares of Alphabet stock opened at $319.95 on Thursday. 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’s fifty day moving average is $266.58 and its two-hundred day moving average is $216.93. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $328.83. The company has a market capitalization of $3.86 trillion, a PE ratio of 31.55, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05.

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

Alphabet Dividend Announcement

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

Insiders Place Their Bets

In other Alphabet news, insider John Kent Walker sold 17,816 shares of the company’s stock in a transaction dated 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 transaction, the insider directly owned 42,985 shares in the company, valued at $10,635,348.70. This represents a 29.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 2,778 shares of Alphabet stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $250.05, for a total transaction of $694,638.90. Following the sale, the chief accounting officer directly owned 14,516 shares of the company’s stock, valued at $3,629,725.80. This represents a 16.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 225,072 shares of company stock worth $58,074,027 in the last three months. Corporate insiders own 11.64% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on GOOGL shares. Morgan Stanley raised their price target on Alphabet from $270.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Moffett Nathanson upped their price objective on Alphabet from $305.00 to $315.00 and gave the stock a “buy” rating in a report on Tuesday. Tigress Financial raised their target price on shares of Alphabet from $240.00 to $280.00 and gave the company a “strong-buy” rating in a report on Friday, September 5th. Wedbush restated an “outperform” rating and issued a $320.00 price target (up previously from $245.00) on shares of Alphabet in a research report on Thursday, October 30th. Finally, Piper Sandler reiterated an “overweight” rating and set a $330.00 price objective (up previously from $285.00) on shares of Alphabet in a research report on Thursday, October 30th. Four analysts have rated the stock with a Strong Buy rating, forty-one have assigned a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and a consensus price target of $307.84.

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.