Arrow Financial Corp cut its holdings in Alphabet Inc (NASDAQ:GOOG) by 0.5% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 1,635 shares of the information services provider’s stock after selling 9 shares during the period. Arrow Financial Corp’s holdings in Alphabet were worth $1,993,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of GOOG. Orrstown Financial Services Inc. purchased a new stake in Alphabet during the 3rd quarter worth $26,000. HMS Capital Management LLC purchased a new stake in Alphabet during the 2nd quarter worth $38,000. 1 North Wealth Services LLC purchased a new stake in Alphabet during the 3rd quarter worth $40,000. Vista Private Wealth Partners. LLC purchased a new stake in Alphabet during the 3rd quarter worth $46,000. Finally, Candriam Luxembourg S.C.A. boosted its position in Alphabet by 3.9% during the 3rd quarter. Candriam Luxembourg S.C.A. now owns 39,076 shares of the information services provider’s stock worth $48,000 after purchasing an additional 1,470 shares during the period. Institutional investors own 33.80% of the company’s stock.
NASDAQ:GOOG traded up $24.87 on Monday, reaching $1,290.00. The stock had a trading volume of 2,594,688 shares, compared to its average volume of 1,443,527. The company has a current ratio of 3.98, a quick ratio of 3.96 and a debt-to-equity ratio of 0.07. The company has a 50-day moving average of $1,224.61 and a 200 day moving average of $1,175.35. The stock has a market cap of $874.37 billion, a P/E ratio of 27.15, a price-to-earnings-growth ratio of 1.48 and a beta of 0.99. Alphabet Inc has a 12-month low of $970.11 and a 12-month high of $1,299.31.
Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Thursday, July 25th. The information services provider reported $14.21 earnings per share for the quarter, beating analysts’ consensus estimates of $11.49 by $2.72. The company had revenue of $38.94 billion during the quarter, compared to analysts’ expectations of $38.21 billion. Alphabet had a net margin of 23.43% and a return on equity of 20.15%. The firm’s revenue for the quarter was up 19.3% on a year-over-year basis. During the same period in the prior year, the company posted $11.75 EPS. On average, equities analysts predict that Alphabet Inc will post 51.37 EPS for the current year.
A number of brokerages recently weighed in on GOOG. UBS Group reaffirmed a “buy” rating on shares of Alphabet in a research report on Friday, July 26th. Cowen upped their price target on shares of Alphabet from $1,400.00 to $1,500.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Zacks Investment Research raised shares of Alphabet from a “hold” rating to a “buy” rating and set a $1,412.00 price target for the company in a research report on Friday. Credit Suisse Group upped their price target on shares of Alphabet from $1,500.00 to $1,700.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Finally, Wedbush upped their price target on shares of Alphabet from $1,350.00 to $1,500.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $1,440.33.
In other Alphabet news, VP Amie Thuener O’toole sold 55 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $1,200.74, for a total value of $66,040.70. Following the completion of the transaction, the vice president now directly owns 388 shares of the company’s stock, valued at approximately $465,887.12. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP David C. Drummond sold 1,600 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $1,215.39, for a total transaction of $1,944,624.00. Following the completion of the transaction, the senior vice president now directly owns 44,482 shares of the company’s stock, valued at $54,062,977.98. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,166 shares of company stock valued at $6,226,349. 12.99% of the stock is currently owned by corporate insiders.
Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.
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