Arcadia Investment Management Corp MI increased its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,018 shares of the information services provider’s stock after buying an additional 5 shares during the period. Arcadia Investment Management Corp MI’s holdings in Alphabet were worth $3,333,000 as of its most recent filing with the SEC.
Other institutional investors have also made changes to their positions in the company. Brenner West Capital Advisors LP acquired a new position in shares of Alphabet during the fourth quarter worth $102,649,000. Parallel Advisors LLC purchased a new position in Alphabet during the fourth quarter worth about $2,036,000. InterOcean Capital LLC boosted its position in Alphabet by 10.9% in the fourth quarter. InterOcean Capital LLC now owns 15,694 shares of the information services provider’s stock worth $12,113,000 after buying an additional 1,537 shares during the last quarter. Gardner Russo & Gardner LLC boosted its position in Alphabet by 43.7% in the fourth quarter. Gardner Russo & Gardner LLC now owns 2,449 shares of the information services provider’s stock worth $1,890,000 after buying an additional 745 shares during the last quarter. Finally, Marietta Wealth Management LLC purchased a new position in Alphabet during the fourth quarter worth about $235,000. Institutional investors and hedge funds own 34.57% of the company’s stock.
Shares of Alphabet Inc. (NASDAQ:GOOG) traded down 0.03% during mid-day trading on Friday, hitting $910.67. The company had a trading volume of 1,342,689 shares. The firm has a 50-day moving average price of $933.52 and a 200 day moving average price of $892.51. The firm has a market capitalization of $630.98 billion, a price-to-earnings ratio of 33.00 and a beta of 0.94. Alphabet Inc. has a 52-week low of $727.54 and a 52-week high of $988.25.
Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Monday, July 24th. The information services provider reported $5.01 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $4.43 by $0.58. The business had revenue of $26.01 billion during the quarter, compared to analysts’ expectations of $25.61 billion. Alphabet had a net margin of 19.49% and a return on equity of 13.66%. The company’s revenue for the quarter was up 21.0% on a year-over-year basis. During the same period in the previous year, the company earned $8.42 EPS. Analysts expect that Alphabet Inc. will post $30.60 earnings per share for the current year.
GOOG has been the subject of several analyst reports. J P Morgan Chase & Co restated a “buy” rating on shares of Alphabet in a report on Tuesday, July 25th. Nomura reiterated a “buy” rating and issued a $985.00 price objective on shares of Alphabet in a report on Monday, May 1st. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating on shares of Alphabet in a report on Wednesday, June 28th. Wedbush reiterated an “underperform” rating and issued a $725.00 price objective (up previously from $700.00) on shares of Alphabet in a report on Saturday, April 29th. Finally, Cantor Fitzgerald reiterated a “buy” rating on shares of Alphabet in a report on Friday, April 28th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and forty have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $1,030.56.
In other news, CEO Sundar Pichai sold 4,000 shares of the business’s stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $903.86, for a total transaction of $3,615,440.00. Following the transaction, the chief executive officer now directly owns 1,911 shares in the company, valued at $1,727,276.46. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Ann Mather sold 629 shares of the business’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $932.28, for a total transaction of $586,404.12. Following the sale, the director now directly owns 1,781 shares in the company, valued at approximately $1,660,390.68. The disclosure for this sale can be found here. Insiders have sold a total of 47,169 shares of company stock worth $44,206,482 over the last quarter. 13.92% of the stock is owned by company insiders.
Alphabet Company Profile
Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.
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