Arbor Trust Wealth Advisors LLC Reduces Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Arbor Trust Wealth Advisors LLC reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,310 shares of the information services provider’s stock after selling 75 shares during the quarter. Arbor Trust Wealth Advisors LLC’s holdings in Alphabet were worth $607,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Veracity Capital LLC raised its holdings in shares of Alphabet by 12.4% during the 4th quarter. Veracity Capital LLC now owns 10,597 shares of the information services provider’s stock valued at $1,493,000 after buying an additional 1,173 shares during the period. Independence Bank of Kentucky raised its holdings in shares of Alphabet by 25.3% during the 4th quarter. Independence Bank of Kentucky now owns 6,093 shares of the information services provider’s stock valued at $859,000 after buying an additional 1,230 shares during the period. Washington Trust Bank raised its holdings in shares of Alphabet by 33.0% during the 3rd quarter. Washington Trust Bank now owns 7,359 shares of the information services provider’s stock valued at $970,000 after buying an additional 1,826 shares during the period. CNB Bank raised its holdings in shares of Alphabet by 6.6% during the 3rd quarter. CNB Bank now owns 27,723 shares of the information services provider’s stock valued at $3,655,000 after buying an additional 1,710 shares during the period. Finally, Sloy Dahl & Holst LLC raised its holdings in shares of Alphabet by 1.9% during the 3rd quarter. Sloy Dahl & Holst LLC now owns 8,238 shares of the information services provider’s stock valued at $1,086,000 after buying an additional 155 shares during the period. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Price Performance

Shares of GOOG opened at $157.46 on Friday. The firm has a market cap of $1.96 trillion, a price-to-earnings ratio of 27.15, a PEG ratio of 1.45 and a beta of 1.05. The stock has a 50 day moving average of $147.35 and a 200-day moving average of $141.72. 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 Inc. has a 52 week low of $103.27 and a 52 week high of $161.70.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, topping the consensus estimate of $1.60 by $0.04. The company had revenue of $86.31 billion during the quarter, compared to analyst estimates of $85.28 billion. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The business’s revenue was up 13.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.05 EPS. As a group, analysts forecast that Alphabet Inc. will post 6.78 EPS for the current year.

Insider Activity at Alphabet

In related news, SVP Prabhakar Raghavan sold 3,258 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $155.97, for a total transaction of $508,150.26. Following the completion of the transaction, the senior vice president now owns 144,685 shares in the company, valued at approximately $22,566,519.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Alphabet news, SVP Prabhakar Raghavan sold 3,258 shares of the business’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $155.97, for a total transaction of $508,150.26. Following the completion of the transaction, the senior vice president now owns 144,685 shares in the company, valued at approximately $22,566,519.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $157.41, for a total value of $3,541,725.00. Following the transaction, the chief executive officer now owns 2,303,011 shares of the company’s stock, valued at approximately $362,516,961.51. The disclosure for this sale can be found here. Insiders sold 251,339 shares of company stock worth $36,377,482 in the last 90 days. 12.99% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Raymond James lifted their price objective on Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a report on Wednesday, January 24th. Stifel Nicolaus lifted their price objective on Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a report on Tuesday. Oppenheimer lifted their price objective on Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a report on Monday, April 8th. Morgan Stanley restated an “overweight” rating and set a $165.00 price objective on shares of Alphabet in a report on Thursday, April 11th. Finally, Susquehanna lifted their price objective on Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a report on Wednesday, January 31st. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $159.86.

Alphabet Company 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.