Arbor Capital Management Inc. ADV increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 5.2% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 16,337 shares of the information services provider’s stock after acquiring an additional 808 shares during the period. Alphabet makes up about 1.5% of Arbor Capital Management Inc. ADV’s portfolio, making the stock its 24th largest holding. Arbor Capital Management Inc. ADV’s holdings in Alphabet were worth $1,948,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of GOOGL. Live Oak Investment Partners acquired a new position in shares of Alphabet during the 4th quarter worth approximately $26,000. Armor Investment Advisors LLC purchased a new stake in Alphabet in the 2nd quarter worth $28,000. CarsonAllaria Wealth Management Ltd. raised its position in Alphabet by 136.7% during the second quarter. CarsonAllaria Wealth Management Ltd. now owns 284 shares of the information services provider’s stock worth $34,000 after acquiring an additional 164 shares during the period. Sanctuary Wealth Management L.L.C. purchased a new position in Alphabet during the fourth quarter valued at $34,000. Finally, Turim 21 Investimentos Ltda. acquired a new stake in shares of Alphabet in the third quarter valued at about $38,000. Hedge funds and other institutional investors own 35.08% of the company’s stock.
Analysts Set New Price Targets
GOOGL has been the topic of several research analyst reports. Morgan Stanley reduced their price objective on shares of Alphabet from $155.00 to $150.00 and set an “overweight” rating on the stock in a report on Wednesday, October 25th. Barclays decreased their price objective on shares of Alphabet from $200.00 to $180.00 and set an “overweight” rating on the stock in a report on Wednesday, October 25th. JMP Securities lifted their target price on shares of Alphabet from $138.00 to $140.00 and gave the company a “market outperform” rating in a report on Wednesday, October 25th. Loop Capital upped their price target on Alphabet from $125.00 to $140.00 and gave the stock a “hold” rating in a research note on Friday, August 18th. Finally, Wells Fargo & Company lifted their price objective on Alphabet from $126.00 to $129.00 and gave the company an “equal weight” rating in a research note on Thursday. Five research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $147.00.
Alphabet Stock Performance
Shares of GOOGL opened at $135.31 on Monday. The company’s 50 day simple moving average is $133.44 and its 200-day simple moving average is $127.65. Alphabet Inc. has a 12-month low of $84.86 and a 12-month high of $141.22. The firm has a market cap of $1.69 trillion, a PE ratio of 25.97, a price-to-earnings-growth ratio of 1.51 and a beta of 1.05. The company has a current ratio of 2.04, a quick ratio of 2.01 and a debt-to-equity ratio of 0.05.
Alphabet (NASDAQ:GOOGL – Get Free Report) last posted its quarterly earnings data on Tuesday, October 24th. The information services provider reported $1.55 EPS for the quarter, beating analysts’ consensus estimates of $1.45 by $0.10. Alphabet had a net margin of 22.46% and a return on equity of 25.24%. The company had revenue of $64.05 billion for the quarter, compared to analyst estimates of $63.13 billion. As a group, equities analysts predict that Alphabet Inc. will post 5.74 EPS for the current year.
Insider Buying and Selling at Alphabet
In other news, Director Frances Arnold sold 250 shares of the company’s stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $124.36, for a total transaction of $31,090.00. Following the completion of the sale, the director now owns 14,226 shares in the company, valued at $1,769,145.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Alphabet news, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $137.30, for a total transaction of $27,460.00. Following the transaction, the director now owns 7,584 shares in the company, valued at approximately $1,041,283.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Frances Arnold sold 250 shares of the firm’s stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $124.36, for a total value of $31,090.00. Following the completion of the sale, the director now directly owns 14,226 shares of the company’s stock, valued at $1,769,145.36. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 176,576 shares of company stock worth $23,425,367. 0.88% of the stock is currently owned by insiders.
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, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
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