Arrow Financial Corp Decreases Stake in Alphabet Inc. (NASDAQ:GOOGL)

Arrow Financial Corp trimmed its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 3.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 85,969 shares of the information services provider's stock after selling 3,084 shares during the quarter. Alphabet makes up about 1.5% of Arrow Financial Corp's portfolio, making the stock its 13th biggest position. Arrow Financial Corp's holdings in Alphabet were worth $16,274,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Optivise Advisory Services LLC raised its position in Alphabet by 8.0% during the 4th quarter. Optivise Advisory Services LLC now owns 5,464 shares of the information services provider's stock valued at $1,035,000 after purchasing an additional 403 shares in the last quarter. Community Bank N.A. increased its stake in shares of Alphabet by 6.4% during the fourth quarter. Community Bank N.A. now owns 46,173 shares of the information services provider's stock valued at $8,741,000 after buying an additional 2,790 shares during the period. Premier Fund Managers Ltd raised its holdings in shares of Alphabet by 30.0% in the fourth quarter. Premier Fund Managers Ltd now owns 61,792 shares of the information services provider's stock valued at $11,816,000 after acquiring an additional 14,262 shares in the last quarter. Absolute Capital Management LLC lifted its stake in Alphabet by 14.0% in the fourth quarter. Absolute Capital Management LLC now owns 2,096 shares of the information services provider's stock worth $401,000 after acquiring an additional 258 shares during the period. Finally, Permanent Capital Management LP bought a new position in Alphabet during the 4th quarter worth about $273,000. 40.03% of the stock is owned by institutional investors.

Alphabet Stock Performance

Shares of GOOGL stock traded up $2.73 on Friday, hitting $164.03. The company had a trading volume of 25,689,744 shares, compared to its average volume of 28,219,299. The firm has a market cap of $1.99 trillion, a P/E ratio of 20.38, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $207.05. The company has a 50-day moving average price of $160.19 and a 200-day moving average price of $175.34. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03.

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

Alphabet Increases Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Wells Fargo & Company upped their price target on shares of Alphabet from $167.00 to $175.00 and gave the stock an "equal weight" rating in a research report on Friday, April 25th. Needham & Company LLC restated a "buy" rating and set a $178.00 target price on shares of Alphabet in a report on Friday, April 25th. Tigress Financial lifted their price target on Alphabet from $220.00 to $240.00 and gave the company a "strong-buy" rating in a report on Wednesday. Piper Sandler raised 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. Finally, Roth Mkm reiterated a "buy" rating and issued a $220.00 target price on shares of Alphabet in a report on Wednesday, March 19th. Ten investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and five have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Alphabet presently has a consensus rating of "Moderate Buy" and a consensus price target of $199.46.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O'toole sold 1,340 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $202.08, for a total transaction of $270,787.20. Following the transaction, the chief accounting officer now directly owns 17,848 shares of the company's stock, valued at $3,606,723.84. This trade represents a 6.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total transaction of $5,153,200.00. Following the sale, the chief executive officer now directly owns 2,717,696 shares of the company's stock, valued at $430,917,877.76. This represents a 1.18 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 148,164 shares of company stock worth $25,357,390. Company insiders own 11.55% of the company's stock.

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.