Arden Trust Co Acquires New Shares in Alphabet Inc. (NASDAQ:GOOGL)

Arden Trust Co acquired a new stake in shares of Alphabet Inc. (NASDAQ:GOOGLGet Rating) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 121 shares of the information services provider’s stock, valued at approximately $263,000.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Alphabet by 1.4% in the first quarter. Vanguard Group Inc. now owns 23,304,411 shares of the information services provider’s stock valued at $64,817,723,000 after acquiring an additional 331,945 shares during the period. State Street Corp lifted its holdings in Alphabet by 1.4% in the fourth quarter. State Street Corp now owns 11,252,792 shares of the information services provider’s stock valued at $32,599,789,000 after acquiring an additional 157,280 shares during the period. Norges Bank bought a new position in Alphabet in the fourth quarter valued at about $14,477,662,000. Aaron Wealth Advisors LLC lifted its holdings in Alphabet by 699,790.2% in the first quarter. Aaron Wealth Advisors LLC now owns 4,703,262 shares of the information services provider’s stock valued at $1,691,000 after acquiring an additional 4,702,590 shares during the period. Finally, Fisher Asset Management LLC lifted its holdings in Alphabet by 4.3% in the first quarter. Fisher Asset Management LLC now owns 2,025,990 shares of the information services provider’s stock valued at $5,634,988,000 after acquiring an additional 83,043 shares during the period. 1.88% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 42 shares of the company’s stock in a transaction on Friday, July 1st. The stock was sold at an average price of $2,166.74, for a total value of $91,003.08. Following the transaction, the chief accounting officer now owns 1,192 shares of the company’s stock, valued at approximately $2,582,754.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Alphabet news, Director Ann Mather sold 300 shares of the company’s stock in a transaction on Monday, July 25th. The stock was sold at an average price of $108.94, for a total value of $32,682.00. Following the completion of the sale, the director now directly owns 11,360 shares in the company, valued at approximately $1,237,558.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Amie Thuener O’toole sold 42 shares of the company’s stock in a transaction on Friday, July 1st. The stock was sold at an average price of $2,166.74, for a total value of $91,003.08. Following the completion of the sale, the chief accounting officer now owns 1,192 shares of the company’s stock, valued at $2,582,754.08. The disclosure for this sale can be found here. Insiders have sold 44,536 shares of company stock valued at $15,729,998 in the last quarter. 11.44% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on GOOGL. Mizuho lowered their target price on Alphabet from $175.00 to $150.00 and set a “buy” rating on the stock in a report on Friday, July 22nd. Susquehanna Bancshares decreased their price objective on Alphabet from $187.50 to $150.00 and set a “positive” rating on the stock in a research note on Wednesday, July 27th. Oppenheimer decreased their price objective on Alphabet to $155.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 27th. Moffett Nathanson decreased their price objective on Alphabet to $132.50 in a research note on Thursday, May 26th. Finally, Susquehanna decreased their price objective on Alphabet from $187.50 to $150.00 and set a “positive” rating on the stock in a research note on Wednesday, July 27th. Five equities research analysts have rated the stock with a hold rating, thirty-four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $147.41.

Alphabet Trading Down 1.8 %

GOOGL opened at $99.28 on Thursday. The stock has a market cap of $1.30 trillion, a price-to-earnings ratio of 18.47, a P/E/G ratio of 1.67 and a beta of 1.09. The stock’s 50 day moving average price is $112.02 and its 200-day moving average price is $118.04. Alphabet Inc. has a one year low of $99.27 and a one year high of $151.55. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.78 and a current ratio of 2.81.

Alphabet (NASDAQ:GOOGLGet Rating) last announced its quarterly earnings data on Tuesday, July 26th. The information services provider reported $1.21 EPS for the quarter, missing the consensus estimate of $1.27 by ($0.06). The business had revenue of $57.47 billion during the quarter, compared to the consensus estimate of $57.55 billion. Alphabet had a net margin of 25.89% and a return on equity of 28.65%. During the same period last year, the company earned $27.26 EPS. On average, equities analysts forecast that Alphabet Inc. will post 5.21 EPS for the current year.

About Alphabet

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Alphabet Inc provides 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 offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

Further Reading

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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