Alphabet Inc. (NASDAQ:GOOGL) Position Boosted by Arbor Capital Management Inc. ADV

Arbor Capital Management Inc. ADV grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 5.2% in the second quarter, HoldingsChannel reports. The fund owned 16,337 shares of the information services provider’s stock after buying 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 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Spreng Capital Management Inc. raised its position in Alphabet by 4.0% in the 1st quarter. Spreng Capital Management Inc. now owns 131 shares of the information services provider’s stock valued at $364,000 after purchasing an additional 5 shares during the last quarter. West Family Investments Inc. grew its holdings in Alphabet by 0.3% during the 1st quarter. West Family Investments Inc. now owns 1,754 shares of the information services provider’s stock worth $4,878,000 after acquiring an additional 6 shares during the last quarter. Maple Capital Management Inc. increased its position in Alphabet by 2.1% in the 1st quarter. Maple Capital Management Inc. now owns 296 shares of the information services provider’s stock valued at $823,000 after acquiring an additional 6 shares in the last quarter. Private Advisory Group LLC raised its stake in shares of Alphabet by 1.8% in the first quarter. Private Advisory Group LLC now owns 401 shares of the information services provider’s stock worth $1,115,000 after acquiring an additional 7 shares during the last quarter. Finally, Weik Capital Management lifted its position in shares of Alphabet by 0.5% during the first quarter. Weik Capital Management now owns 1,533 shares of the information services provider’s stock worth $4,264,000 after purchasing an additional 8 shares in the last quarter. Institutional investors own 35.08% of the company’s stock.

Alphabet Trading Down 1.2 %

Shares of GOOGL stock opened at $135.31 on Monday. Alphabet Inc. has a 12-month low of $84.86 and a 12-month high of $141.22. The company has a quick ratio of 2.01, a current ratio of 2.04 and a debt-to-equity ratio of 0.05. The business has a 50-day moving average price of $133.44 and a two-hundred day moving average price of $127.65. The firm has a market cap of $1.69 trillion, a P/E ratio of 25.97, a price-to-earnings-growth ratio of 1.51 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Tuesday, October 24th. The information services provider reported $1.55 earnings per share for the quarter, topping the consensus estimate of $1.45 by $0.10. Alphabet had a return on equity of 25.24% and a net margin of 22.46%. The company had revenue of $64.05 billion for the quarter, compared to analysts’ expectations of $63.13 billion. Equities analysts anticipate that Alphabet Inc. will post 5.74 EPS for the current fiscal year.

Insider Activity

In related news, Director Ann Mather sold 220 shares of the stock in a transaction dated Friday, August 25th. The shares were sold at an average price of $130.14, for a total transaction of $28,630.80. Following the sale, the director now directly owns 4,818 shares of the company’s stock, valued at approximately $627,014.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $137.30, for a total value of $27,460.00. Following the completion of the transaction, the director now owns 7,584 shares in the company, valued at $1,041,283.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ann Mather sold 220 shares of Alphabet stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $130.14, for a total value of $28,630.80. Following the completion of the sale, the director now owns 4,818 shares of the company’s stock, valued at $627,014.52. The disclosure for this sale can be found here. Insiders sold 176,576 shares of company stock worth $23,425,367 over the last three months. 0.88% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

GOOGL has been the topic of several research reports. Barclays cut their price target on Alphabet from $200.00 to $180.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 25th. Truist Financial raised their target price on shares of Alphabet from $122.00 to $160.00 in a research note on Wednesday, July 26th. Piper Sandler boosted their price target on shares of Alphabet from $147.00 to $150.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 25th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $155.00 price objective on shares of Alphabet in a research note on Wednesday, October 25th. Finally, Needham & Company LLC upped their target price on shares of Alphabet from $140.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, October 25th. Five equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $147.00.

About Alphabet

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.