1,519 Shares in Alphabet Inc. (NASDAQ:GOOG) Bought by Arbor Capital Management Inc. ADV

Arbor Capital Management Inc. ADV acquired a new position in Alphabet Inc. (NASDAQ:GOOG) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 1,519 shares of the information services provider’s stock, valued at approximately $239,000.

A number of other institutional investors have also recently bought and sold shares of the business. Principia Wealth Advisory LLC boosted its holdings in shares of Alphabet by 111.8% in the 1st quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider’s stock worth $26,000 after buying an additional 85 shares during the last quarter. MorganRosel Wealth Management LLC bought a new stake in Alphabet in the first quarter worth about $26,000. LSV Asset Management bought a new stake in Alphabet in the fourth quarter worth about $27,000. Goodman Advisory Group LLC purchased a new position in Alphabet in the first quarter valued at about $32,000. Finally, WealthTrak Capital Management LLC bought a new position in shares of Alphabet during the 4th quarter valued at approximately $38,000. Institutional investors own 27.26% of the company’s stock.

Insider Buying and Selling at Alphabet

In related news, Director Kavitark Ram Shriram sold 9,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $1,575,000.00. Following the sale, the director directly owned 255,400 shares of the company’s stock, valued at $44,695,000. This trade represents a 3.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $176.68, for a total transaction of $5,742,100.00. Following the sale, the chief executive officer owned 2,555,196 shares of the company’s stock, valued at approximately $451,452,029.28. The trade was a 1.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 183,143 shares of company stock valued at $30,529,028 in the last 90 days. Corporate insiders own 12.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on GOOG shares. KeyCorp lowered their price target on shares of Alphabet from $202.00 to $185.00 and set an “overweight” rating on the stock in a report on Wednesday, April 9th. Susquehanna restated a “positive” rating on shares of Alphabet in a research note on Friday, May 2nd. UBS Group dropped their price target on Alphabet from $209.00 to $173.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. Tigress Financial reiterated a “strong-buy” rating on shares of Alphabet in a research note on Friday, May 2nd. Finally, Needham & Company LLC cut Alphabet from a “buy” rating to a “cautious” rating in a research note on Friday, May 2nd. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have given a buy rating and six have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and an average price target of $206.38.

Alphabet Stock Performance

NASDAQ GOOG opened at $179.76 on Thursday. The company’s 50 day simple moving average is $169.27 and its two-hundred day simple moving average is $175.84. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $208.70. The stock has a market capitalization of $2.18 trillion, a PE ratio of 20.04, a P/E/G ratio of 1.25 and a beta of 1.01.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.79. The company had revenue of $90.23 billion for the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The firm’s revenue was up 12.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.89 earnings per share. Analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were paid a $0.21 dividend. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date of this dividend was Monday, June 9th. Alphabet’s dividend payout ratio is currently 9.36%.

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.