Arbor Capital Management Inc. ADV Makes New $239,000 Investment in Alphabet Inc. (NASDAQ:GOOG)

Arbor Capital Management Inc. ADV acquired a new position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 1,519 shares of the information services provider's stock, valued at approximately $239,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new stake in Alphabet in the 4th quarter valued at $5,166,070,000. GAMMA Investing LLC boosted its holdings in shares of Alphabet by 18,562.3% during the 1st quarter. GAMMA Investing LLC now owns 14,323,323 shares of the information services provider's stock worth $2,237,733,000 after buying an additional 14,246,573 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Alphabet during the 4th quarter worth about $1,551,533,000. Northern Trust Corp boosted its holdings in Alphabet by 16.1% in the 4th quarter. Northern Trust Corp now owns 57,098,042 shares of the information services provider's stock valued at $10,873,751,000 after purchasing an additional 7,917,625 shares during the period. Finally, GQG Partners LLC boosted its holdings in Alphabet by 181,679.1% in the 4th quarter. GQG Partners LLC now owns 7,225,721 shares of the information services provider's stock valued at $1,376,066,000 after purchasing an additional 7,221,746 shares during the period. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. BNP Paribas downgraded shares of Alphabet from a "strong-buy" rating to a "hold" rating in a report on Thursday, June 26th. KeyCorp cut their price objective on shares of Alphabet from $202.00 to $185.00 and set an "overweight" rating for the company in a report on Wednesday, April 9th. UBS Group cut their price objective on shares of Alphabet from $209.00 to $173.00 and set a "neutral" rating for the company in a report on Friday, April 11th. The Goldman Sachs Group reissued a "buy" rating and issued a $220.00 price objective on shares of Alphabet in a report on Monday, June 2nd. Finally, Needham & Company LLC cut shares of Alphabet from a "buy" rating to a "cautious" rating in a research report on Friday, May 2nd. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have issued a buy rating and six have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $206.38.

Alphabet Price Performance

GOOG stock traded up $0.46 during trading on Friday, reaching $180.22. 13,287,389 shares of the company were exchanged, compared to its average volume of 21,210,158. The company has a 50-day moving average of $169.97 and a two-hundred day moving average of $175.49. The company has a market capitalization of $2.19 trillion, a price-to-earnings ratio of 20.09, a P/E/G ratio of 1.27 and a beta of 1.01. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $208.70. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.79. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The firm had revenue of $90.23 billion during the quarter, compared to analysts' expectations of $89.30 billion. During the same period in the prior year, the company posted $1.89 EPS. The company's revenue was up 12.0% on a year-over-year basis. As a group, equities analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were given a $0.21 dividend. This is a boost from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 0.47%. The ex-dividend date was Monday, June 9th. Alphabet's dividend payout ratio is 9.36%.

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $170.87, for a total value of $5,553,275.00. Following the completion of the transaction, the chief executive officer directly owned 2,620,196 shares in the company, valued at approximately $447,712,890.52. This represents a 1.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kavitark Ram Shriram sold 10,500 shares of the company's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total transaction of $1,837,500.00. Following the completion of the sale, the director directly owned 261,966 shares in the company, valued at approximately $45,844,050. This represents a 3.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 215,643 shares of company stock worth $36,330,928. 12.99% of the stock is currently owned by company insiders.

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.