Arbor Trust Wealth Advisors LLC Increases Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Arbor Trust Wealth Advisors LLC raised its stake in Alphabet Inc. (NASDAQ:GOOGL) by 1.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,162 shares of the information services provider’s stock after acquiring an additional 465 shares during the period. Alphabet makes up 2.3% of Arbor Trust Wealth Advisors LLC’s portfolio, making the stock its 14th biggest position. Arbor Trust Wealth Advisors LLC’s holdings in Alphabet were worth $3,934,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Meritage Group LP lifted its stake in Alphabet by 1,061.5% during the 3rd quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock valued at $40,000 after acquiring an additional 276 shares during the period. Macroview Investment Management LLC raised its holdings in shares of Alphabet by 165.8% during the third quarter. Macroview Investment Management LLC now owns 319 shares of the information services provider’s stock valued at $42,000 after purchasing an additional 199 shares during the last quarter. Armor Investment Advisors LLC raised its holdings in shares of Alphabet by 31.0% during the fourth quarter. Armor Investment Advisors LLC now owns 338 shares of the information services provider’s stock valued at $47,000 after purchasing an additional 80 shares during the last quarter. Valued Wealth Advisors LLC bought a new position in Alphabet during the fourth quarter valued at approximately $55,000. Finally, LFA Lugano Financial Advisors SA boosted its holdings in Alphabet by 301.5% in the fourth quarter. LFA Lugano Financial Advisors SA now owns 522 shares of the information services provider’s stock worth $73,000 after purchasing an additional 392 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.

Alphabet Price Performance

Alphabet stock opened at $159.13 on Thursday. The firm has a market capitalization of $1.98 trillion, a PE ratio of 27.44, a price-to-earnings-growth ratio of 1.44 and a beta of 1.05. Alphabet Inc. has a 12-month low of $102.63 and a 12-month high of $160.22. The firm has a 50-day moving average price of $146.96 and a 200-day moving average price of $141.06. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The business had revenue of $86.31 billion during the quarter, compared to analyst estimates of $70.77 billion. During the same period in the previous year, the company posted $1.05 EPS. As a group, equities research analysts forecast that Alphabet Inc. will post 6.78 EPS for the current year.

Insider Buying and Selling

In related news, CFO Ruth Porat sold 48,077 shares of Alphabet stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $137.22, for a total transaction of $6,597,125.94. Following the transaction, the chief financial officer now directly owns 1,777,106 shares of the company’s stock, valued at $243,854,485.32. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Alphabet news, CFO Ruth Porat sold 48,077 shares of the business’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $137.22, for a total value of $6,597,125.94. Following the completion of the transaction, the chief financial officer now directly owns 1,777,106 shares in the company, valued at $243,854,485.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Prabhakar Raghavan sold 3,258 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $155.97, for a total value of $508,150.26. Following the completion of the transaction, the senior vice president now owns 144,685 shares of the company’s stock, valued at approximately $22,566,519.45. The disclosure for this sale can be found here. Insiders sold a total of 251,339 shares of company stock valued at $36,377,482 over the last three months. 0.88% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on GOOGL. Wells Fargo & Company lowered their price target on Alphabet from $144.00 to $141.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 3rd. Truist Financial raised their target price on Alphabet from $158.00 to $170.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. Needham & Company LLC reaffirmed a “buy” rating and set a $160.00 price target on shares of Alphabet in a research report on Wednesday, January 31st. Canaccord Genuity Group raised their price objective on shares of Alphabet from $180.00 to $190.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th. Finally, Susquehanna increased their price target on shares of Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research report on Wednesday, January 31st. Five equities research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $158.71.

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.