Arcadia Investment Management Corp MI Sells 3,082 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Arcadia Investment Management Corp MI decreased its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 3.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 94,227 shares of the information services provider's stock after selling 3,082 shares during the quarter. Alphabet comprises approximately 2.6% of Arcadia Investment Management Corp MI's investment portfolio, making the stock its 13th largest position. Arcadia Investment Management Corp MI's holdings in Alphabet were worth $14,571,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in GOOGL. von Borstel & Associates Inc. acquired a new stake in shares of Alphabet during the 1st quarter worth approximately $28,000. Elite Financial Inc. acquired a new stake in shares of Alphabet during the 1st quarter worth approximately $42,000. Anderson Financial Strategies LLC acquired a new stake in shares of Alphabet during the 4th quarter worth approximately $49,000. EQ Wealth Advisors LLC acquired a new stake in shares of Alphabet during the 1st quarter worth approximately $49,000. Finally, Navigoe LLC acquired a new stake in shares of Alphabet during the 4th quarter worth approximately $51,000. Institutional investors own 40.03% of the company's stock.

Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total value of $5,801,900.00. Following the sale, the chief executive officer directly owned 2,559,892 shares in the company, valued at approximately $456,991,919.84. The trade was a 1.25% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 600 shares of the business's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $105,000.00. Following the completion of the sale, the director owned 6,813 shares in the company, valued at $1,192,275. This represents a 8.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 182,943 shares of company stock worth $31,223,348 in the last ninety days. Company insiders own 11.55% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently commented on GOOGL. Rosenblatt Securities reaffirmed a "neutral" rating and set a $189.00 price objective on shares of Alphabet in a research report on Wednesday, May 21st. Morgan Stanley reduced their price objective on shares of Alphabet from $210.00 to $185.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. JMP Securities raised shares of Alphabet from a "market perform" rating to a "market outperform" rating and set a $220.00 price target for the company in a research report on Friday, June 27th. Piper Sandler lifted their price target on shares of Alphabet from $185.00 to $195.00 and gave the company an "overweight" rating in a research report on Friday, April 25th. Finally, Jefferies Financial Group reduced their price target on shares of Alphabet from $235.00 to $200.00 and set a "buy" rating for the company in a research report on Monday, March 31st. Ten analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat, Alphabet currently has a consensus rating of "Moderate Buy" and an average target price of $201.24.

Alphabet Stock Performance

Shares of NASDAQ GOOGL traded up $0.97 during mid-day trading on Wednesday, reaching $182.97. 33,066,989 shares of the company's stock were exchanged, compared to its average volume of 31,989,978. The firm has a market capitalization of $2.22 trillion, a price-to-earnings ratio of 20.40, a price-to-earnings-growth ratio of 1.27 and a beta of 1.00. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $207.05. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77. The firm has a 50-day moving average price of $171.04 and a two-hundred day moving average price of $173.13.

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 company had revenue of $76.49 billion for the quarter, compared to analysts' expectations of $89.30 billion. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. During the same period in the previous year, the business posted $1.89 EPS. Analysts predict that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.46%. This is a boost from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Monday, June 9th. Alphabet's payout ratio is presently 9.36%.

Alphabet 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.