Arrow Financial Corp Sells 3,084 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Arrow Financial Corp decreased its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 3.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 85,969 shares of the information services provider's stock after selling 3,084 shares during the quarter. Alphabet accounts for about 1.5% of Arrow Financial Corp's investment portfolio, making the stock its 13th largest holding. Arrow Financial Corp's holdings in Alphabet were worth $16,274,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Compass Planning Associates Inc purchased a new position in Alphabet in the fourth quarter valued at about $30,000. E Fund Management Hong Kong Co. Ltd. increased its holdings in Alphabet by 518.8% in the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider's stock worth $37,000 after buying an additional 166 shares during the last quarter. Fiduciary Advisors Inc. bought a new position in Alphabet during the fourth quarter valued at approximately $39,000. PayPay Securities Corp lifted its stake in Alphabet by 36.1% in the fourth quarter. PayPay Securities Corp now owns 245 shares of the information services provider's stock valued at $46,000 after acquiring an additional 65 shares during the last quarter. Finally, Denver PWM LLC grew its position in Alphabet by 25.4% in the third quarter. Denver PWM LLC now owns 281 shares of the information services provider's stock worth $47,000 after acquiring an additional 57 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company's stock.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O'toole sold 673 shares of the stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total value of $104,537.09. Following the completion of the sale, the chief accounting officer now directly owns 15,303 shares in the company, valued at $2,377,014.99. This represents a 4.21 % 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, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $156.16, for a total transaction of $5,075,200.00. Following the sale, the chief executive officer now owns 2,685,196 shares in the company, valued at $419,320,207.36. This trade represents a 1.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 146,824 shares of company stock worth $25,086,603. Insiders own 11.55% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Piper Sandler boosted their price objective on Alphabet from $185.00 to $195.00 and gave the stock an "overweight" rating in a research report on Friday, April 25th. KeyCorp increased their price objective on Alphabet from $185.00 to $195.00 and gave the company an "overweight" rating in a research report on Friday, April 25th. Tigress Financial boosted their target price on shares of Alphabet from $220.00 to $240.00 and gave the stock a "strong-buy" rating in a research report on Wednesday, April 30th. Citigroup increased their price target on shares of Alphabet from $195.00 to $200.00 and gave the company a "buy" rating in a report on Friday, April 25th. Finally, Royal Bank of Canada restated an "outperform" rating and set a $200.00 price objective on shares of Alphabet in a report on Wednesday, April 23rd. Ten investment analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and five have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $199.46.

Alphabet Trading Up 0.6 %

Shares of NASDAQ:GOOGL traded up $0.93 during trading on Monday, hitting $164.96. 10,186,265 shares of the company's stock were exchanged, compared to its average volume of 28,123,025. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The firm has a market cap of $2.00 trillion, a P/E ratio of 20.49, a PEG ratio of 1.34 and a beta of 1.01. The firm has a 50-day moving average price of $160.19 and a two-hundred day moving average price of $175.50. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $207.05.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping analysts' consensus estimates of $2.02 by $0.79. The firm had revenue of $76.49 billion during the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. During the same quarter in the previous year, the business earned $1.89 EPS. Equities analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be paid a $0.21 dividend. This is a positive change from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date is Monday, June 9th. This represents a $0.84 annualized dividend and a yield of 0.51%. Alphabet's dividend payout ratio is presently 9.36%.

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.