Alphabet Inc. (NASDAQ:GOOG) Position Trimmed by Arcadia Investment Management Corp MI

Arcadia Investment Management Corp MI decreased its holdings in Alphabet Inc. (NASDAQ:GOOG) by 1.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 48,461 shares of the information services provider’s stock after selling 900 shares during the period. Alphabet comprises 1.5% of Arcadia Investment Management Corp MI’s portfolio, making the stock its 24th largest holding. Arcadia Investment Management Corp MI’s holdings in Alphabet were worth $9,229,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Fiduciary Advisors Inc. purchased a new position in Alphabet in the fourth quarter valued at about $27,000. Weiss Asset Management LP purchased a new stake in shares of Alphabet during the 3rd quarter worth about $25,000. Safe Harbor Fiduciary LLC acquired a new stake in shares of Alphabet during the 3rd quarter valued at about $33,000. Sanctuary Wealth Management L.L.C. grew its stake in shares of Alphabet by 87.3% in the 3rd quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock valued at $42,000 after buying an additional 117 shares in the last quarter. Finally, Maryland Capital Advisors Inc. increased its holdings in Alphabet by 33.0% in the fourth quarter. Maryland Capital Advisors Inc. now owns 266 shares of the information services provider’s stock worth $51,000 after buying an additional 66 shares during the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Alphabet Trading Down 0.2 %

NASDAQ:GOOG opened at $181.19 on Tuesday. The firm has a market capitalization of $2.21 trillion, a price-to-earnings ratio of 22.51, a PEG ratio of 1.34 and a beta of 1.00. Alphabet Inc. has a 1-year low of $131.55 and a 1-year high of $208.70. The business’s 50-day moving average price is $193.68 and its two-hundred day moving average price is $177.58. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. On average, equities analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date is Monday, March 10th. Alphabet’s dividend payout ratio is currently 9.94%.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 1,340 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $202.08, for a total value of $270,787.20. Following the completion of the sale, the chief accounting officer now directly owns 17,848 shares in the company, valued at $3,606,723.84. This represents a 6.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ruth Porat sold 17,690 shares of the firm’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $183.48, for a total value of $3,245,761.20. Following the sale, the insider now directly owns 1,449,286 shares in the company, valued at approximately $265,914,995.28. This represents a 1.21 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 134,299 shares of company stock valued at $25,055,751. 12.99% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

GOOG has been the subject of a number of analyst reports. Canaccord Genuity Group lifted their target price on shares of Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Wedbush reiterated an “outperform” rating and issued a $220.00 price objective on shares of Alphabet in a report on Thursday, January 30th. UBS Group increased their target price on shares of Alphabet from $187.00 to $192.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Citigroup boosted their price target on Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Scotiabank increased their price objective on Alphabet from $212.00 to $240.00 and gave the company a “sector outperform” rating in a report on Friday, January 24th. One research analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and an average target price of $209.13.

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.