Arbor Trust Wealth Advisors LLC trimmed its holdings in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 5.0% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 27,055 shares of the information services provider’s stock after selling 1,432 shares during the quarter. Alphabet comprises about 2.6% of Arbor Trust Wealth Advisors LLC’s portfolio, making the stock its 13th biggest holding. Arbor Trust Wealth Advisors LLC’s holdings in Alphabet were worth $4,928,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Christopher J. Hasenberg Inc lifted its position in Alphabet by 75.0% in the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after purchasing an additional 60 shares during the period. Kings Path Partners LLC acquired a new stake in shares of Alphabet during the 2nd quarter valued at $36,000. Tributary Capital Management LLC purchased a new stake in shares of Alphabet in the first quarter valued at $30,000. Vermillion & White Wealth Management Group LLC purchased a new stake in shares of Alphabet in the fourth quarter valued at $30,000. Finally, CarsonAllaria Wealth Management Ltd. lifted its holdings in shares of Alphabet by 59.2% in the first quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock valued at $44,000 after purchasing an additional 109 shares in the last quarter. 40.03% of the stock is owned by institutional investors.
Alphabet Stock Up 0.8 %
NASDAQ GOOGL opened at $159.32 on Wednesday. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. The stock’s 50 day moving average is $166.25 and its two-hundred day moving average is $165.17. The company has a market capitalization of $1.97 trillion, a price-to-earnings ratio of 24.44, a PEG ratio of 1.13 and a beta of 1.04. Alphabet Inc. has a 1-year low of $120.21 and a 1-year high of $191.75.
Alphabet Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.50%. The ex-dividend date of this dividend was Monday, September 9th. Alphabet’s payout ratio is currently 12.27%.
Insider Transactions at Alphabet
In other news, CAO Amie Thuener O’toole sold 2,835 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total value of $429,587.55. Following the transaction, the chief accounting officer now directly owns 29,182 shares of the company’s stock, valued at approximately $4,421,948.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $177.40, for a total value of $3,991,500.00. Following the completion of the transaction, the chief executive officer now owns 2,213,011 shares in the company, valued at approximately $392,588,151.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 2,835 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total transaction of $429,587.55. Following the completion of the transaction, the chief accounting officer now owns 29,182 shares of the company’s stock, valued at approximately $4,421,948.46. The disclosure for this sale can be found here. Insiders have sold 180,167 shares of company stock valued at $30,139,931 in the last three months. 11.55% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
A number of analysts have recently issued reports on the company. Wolfe Research assumed coverage on Alphabet in a report on Tuesday, July 16th. They issued an “outperform” rating and a $240.00 target price for the company. TD Securities increased their target price on Alphabet from $200.00 to $220.00 in a report on Wednesday, July 10th. Piper Sandler reduced their target price on Alphabet from $206.00 to $200.00 and set an “overweight” rating for the company in a report on Tuesday, September 10th. Needham & Company LLC restated a “buy” rating and issued a $210.00 target price on shares of Alphabet in a report on Friday, August 30th. Finally, Wells Fargo & Company upped their price target on shares of Alphabet from $187.00 to $190.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 24th. Eight investment analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and an average price target of $201.08.
View Our Latest Stock Report on Alphabet
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.
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