Arcadia Investment Management Corp MI Sells 4,708 Shares of Alphabet Inc. $GOOG

Arcadia Investment Management Corp MI trimmed its position in Alphabet Inc. (NASDAQ:GOOG) by 10.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 39,748 shares of the information services provider’s stock after selling 4,708 shares during the period. Alphabet makes up approximately 2.0% of Arcadia Investment Management Corp MI’s investment portfolio, making the stock its 16th biggest holding. Arcadia Investment Management Corp MI’s holdings in Alphabet were worth $12,473,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of GOOG. Imprint Wealth LLC acquired a new stake in shares of Alphabet in the 3rd quarter valued at approximately $31,000. Nvest Wealth Strategies Inc. acquired a new stake in shares of Alphabet in the 4th quarter valued at approximately $38,000. Towne Trust Company N.A raised its position in shares of Alphabet by 34.0% in the 4th quarter. Towne Trust Company N.A now owns 134 shares of the information services provider’s stock valued at $42,000 after acquiring an additional 34 shares during the period. CBIZ Investment Advisory Services LLC raised its position in shares of Alphabet by 29.0% in the 3rd quarter. CBIZ Investment Advisory Services LLC now owns 258 shares of the information services provider’s stock valued at $63,000 after acquiring an additional 58 shares during the period. Finally, Creative Capital Management Investments LLC raised its position in shares of Alphabet by 1,438.5% in the 4th quarter. Creative Capital Management Investments LLC now owns 200 shares of the information services provider’s stock valued at $63,000 after acquiring an additional 187 shares during the period. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Price Performance

NASDAQ GOOG opened at $362.29 on Wednesday. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.16. Alphabet Inc. has a 12-month low of $163.33 and a 12-month high of $404.47. The company has a market capitalization of $4.39 trillion, a PE ratio of 27.63, a price-to-earnings-growth ratio of 1.55 and a beta of 1.22. The firm’s 50 day moving average is $353.44 and its 200-day moving average is $328.39.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Thursday, April 30th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.68 by $2.43. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. The company had revenue of $109.90 billion for the quarter, compared to the consensus estimate of $106.96 billion. During the same period last year, the company earned $2.81 earnings per share. The firm’s revenue was up 21.8% compared to the same quarter last year. Equities research analysts anticipate that Alphabet Inc. will post 14.29 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 8th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.2%. This is a boost from Alphabet’s previous quarterly dividend of $0.21. The ex-dividend date is Monday, June 8th. Alphabet’s dividend payout ratio is 6.71%.

Key Stories Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Gemini usage growth and strong Google Cloud momentum suggest Alphabet’s AI strategy is gaining traction and could support future revenue growth.
• Positive Sentiment: TD Cowen raised its price target to $475 and reiterated a buy rating, signaling continued Wall Street confidence in Alphabet’s upside.
• Positive Sentiment: Analysts and investors continue to view Alphabet as a long-term compounder with durable Search cash flow plus cloud and AI expansion. Article Title
• Neutral Sentiment: Alphabet’s new capital-raising and AI infrastructure spending plans could help fund growth, but they also create uncertainty about near-term cash flow and dilution.
• Negative Sentiment: Reports that Alphabet is paying SpaceX about $920 million per month for AI compute add to concerns that the company is leaning on outside infrastructure to meet AI demand, increasing costs in the near term.
• Negative Sentiment: Recent commentary suggests investors are worried that elevated AI capex could pressure margins if the payoff from AI products takes longer than expected.

Insiders Place Their Bets

In related news, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the firm’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $23.75, for a total value of $2,077,531.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction on Wednesday, March 18th. The shares were sold at an average price of $307.89, for a total transaction of $10,006,425.00. Following the completion of the transaction, the chief executive officer directly owned 1,642,060 shares of the company’s stock, valued at $505,573,853.40. This represents a 1.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 193,016 shares of company stock valued at $17,282,549 in the last ninety days. 12.99% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

GOOG has been the topic of a number of analyst reports. Truist Financial set a $430.00 price target on shares of Alphabet in a research report on Monday, June 1st. TD Cowen raised their target price on shares of Alphabet from $450.00 to $475.00 and gave the stock a “buy” rating in a report on Tuesday. Citigroup restated a “market outperform” rating on shares of Alphabet in a report on Monday, June 1st. UBS Group restated a “neutral” rating and set a $348.00 target price (up from $345.00) on shares of Alphabet in a report on Thursday, February 12th. Finally, The Goldman Sachs Group restated a “buy” rating and set a $450.00 target price on shares of Alphabet in a report on Thursday, May 21st. Five analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $376.78.

About Alphabet

Alphabet Inc (NASDAQ: GOOG) is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as “Other Bets.” Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company’s history.

Alphabet’s core business centers on internet search and advertising, with Google Search and the company’s ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.