Arbor Trust Wealth Advisors LLC Has $1.49 Million Holdings in Alphabet Inc (NASDAQ:GOOGL)

Arbor Trust Wealth Advisors LLC cut its holdings in Alphabet Inc (NASDAQ:GOOGL) by 1.2% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 1,281 shares of the information services provider’s stock after selling 16 shares during the quarter. Alphabet makes up approximately 1.6% of Arbor Trust Wealth Advisors LLC’s holdings, making the stock its 21st biggest holding. Arbor Trust Wealth Advisors LLC’s holdings in Alphabet were worth $1,489,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in GOOGL. Norges Bank acquired a new stake in Alphabet in the fourth quarter valued at about $6,806,866,000. Johanson Financial Advisors Inc. boosted its stake in Alphabet by 129,857.5% in the fourth quarter. Johanson Financial Advisors Inc. now owns 2,622,543 shares of the information services provider’s stock valued at $1,958,000 after buying an additional 2,620,525 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in shares of Alphabet during the fourth quarter valued at about $332,028,000. Altarock Partners LLC acquired a new stake in shares of Alphabet during the fourth quarter valued at about $308,060,000. Finally, Amundi Pioneer Asset Management Inc. boosted its stake in shares of Alphabet by 29.3% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 968,665 shares of the information services provider’s stock valued at $1,297,422,000 after purchasing an additional 219,626 shares in the last quarter. 35.07% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ:GOOGL opened at $1,322.90 on Tuesday. The stock has a market cap of $905.37 billion, a price-to-earnings ratio of 26.70, a PEG ratio of 1.98 and a beta of 1.06. The company has a quick ratio of 3.64, a current ratio of 3.66 and a debt-to-equity ratio of 0.08. Alphabet Inc has a 12-month low of $1,008.87 and a 12-month high of $1,530.74. The business’s 50 day moving average is $1,194.10 and its 200 day moving average is $1,320.16.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Tuesday, April 28th. The information services provider reported $9.87 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $11.16 by ($1.29). Alphabet had a return on equity of 17.43% and a net margin of 20.71%. The business had revenue of $33.71 billion during the quarter, compared to analysts’ expectations of $32.59 billion. During the same period in the prior year, the firm posted $9.50 EPS. As a group, equities research analysts expect that Alphabet Inc will post 41.47 earnings per share for the current year.

GOOGL has been the topic of a number of recent research reports. Aegis lifted their price target on Alphabet from $1,425.00 to $1,800.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. Zacks Investment Research raised Alphabet from a “sell” rating to a “hold” rating and set a $1,344.00 price target on the stock in a research note on Monday, April 20th. Nomura raised their price objective on Alphabet from $1,680.00 to $1,700.00 in a research report on Wednesday, April 29th. KeyCorp restated a “buy” rating and set a $1,769.00 price objective on shares of Alphabet in a research report on Tuesday, February 4th. Finally, Bernstein Bank assumed coverage on Alphabet in a research report on Friday, January 10th. They set an “outperform” rating and a $1,600.00 price objective for the company. Four analysts have rated the stock with a hold rating and forty-four have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $1,505.23.

About Alphabet

Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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