Alphabet Inc. $GOOG Shares Sold by Arbor Investment Advisors LLC

Arbor Investment Advisors LLC reduced its holdings in Alphabet Inc. (NASDAQ:GOOG) by 6.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,087 shares of the information services provider’s stock after selling 220 shares during the quarter. Arbor Investment Advisors LLC’s holdings in Alphabet were worth $548,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. MorganRosel Wealth Management LLC acquired a new position in shares of Alphabet in the 1st quarter worth $26,000. IFS Advisors LLC boosted its position in Alphabet by 400.0% during the second quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock valued at $27,000 after purchasing an additional 120 shares during the last quarter. Robbins Farley boosted its position in Alphabet by 60.0% during the second quarter. Robbins Farley now owns 160 shares of the information services provider’s stock valued at $28,000 after purchasing an additional 60 shares during the last quarter. WestEnd Advisors LLC lifted its position in shares of Alphabet by 58.7% in the second quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock worth $29,000 after buying an additional 61 shares during the last quarter. Finally, Fairman Group LLC lifted its position in shares of Alphabet by 121.3% in the second quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock worth $31,000 after buying an additional 97 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on GOOG shares. Scotiabank reaffirmed an “outperform” rating and set a $310.00 target price on shares of Alphabet in a research report on Thursday, October 16th. Oppenheimer set a $300.00 target price on Alphabet and gave the stock an “outperform” rating in a research report on Monday. UBS Group set a $255.00 target price on Alphabet and gave the stock a “neutral” rating in a research report on Thursday, October 9th. Hsbc Global Res raised Alphabet to a “strong-buy” rating in a report on Tuesday, October 7th. Finally, Jefferies Financial Group increased their price objective on Alphabet from $230.00 to $285.00 and gave the company a “buy” rating in a research report on Thursday, October 2nd. Six equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $246.26.

Alphabet Price Performance

Alphabet stock opened at $252.53 on Thursday. The company has a market capitalization of $3.05 trillion, a price-to-earnings ratio of 26.89, a PEG ratio of 1.70 and a beta of 1.00. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $257.88. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The stock’s 50 day moving average is $235.22 and its 200-day moving average is $194.81.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.12 by $0.19. The business had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The firm’s quarterly revenue was up 13.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.89 earnings per share. Equities research analysts expect that Alphabet Inc. will post 8.89 EPS for the current year.

Insider Activity

In related news, insider John Kent Walker sold 23,820 shares of the firm’s stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the sale, the insider owned 42,999 shares of the company’s stock, valued at $8,371,905.30. This trade represents a 35.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $249.50, for a total value of $8,108,750.00. Following the transaction, the chief executive officer directly owned 2,397,392 shares in the company, valued at approximately $598,149,304. This trade represents a 1.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 246,150 shares of company stock worth $55,805,379. Insiders own 12.99% of the company’s stock.

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, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.