Arlington Trust Co LLC Increases Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Arlington Trust Co LLC raised its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 8.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,831 shares of the information services provider's stock after acquiring an additional 2,153 shares during the quarter. Alphabet makes up about 0.9% of Arlington Trust Co LLC's holdings, making the stock its 16th largest holding. Arlington Trust Co LLC's holdings in Alphabet were worth $4,304,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in GOOGL. Anderson Financial Strategies LLC acquired a new stake in shares of Alphabet in the fourth quarter valued at approximately $49,000. Navigoe LLC purchased a new position in Alphabet in the fourth quarter worth approximately $51,000. Prudent Man Investment Management Inc. purchased a new position in Alphabet in the fourth quarter worth approximately $53,000. Campbell Capital Management Inc. purchased a new position in Alphabet in the fourth quarter worth approximately $57,000. Finally, EQ Wealth Advisors LLC purchased a new position in Alphabet in the first quarter worth approximately $49,000. Institutional investors and hedge funds own 40.03% of the company's stock.

Alphabet Stock Performance

Shares of GOOGL traded up $2.57 during midday trading on Friday, reaching $180.19. 34,129,675 shares of the stock were exchanged, compared to its average volume of 31,853,810. The business's 50-day moving average price is $169.99 and its 200 day moving average price is $173.57. 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 Inc. has a twelve month low of $140.53 and a twelve month high of $207.05. The company has a market capitalization of $2.19 trillion, a price-to-earnings ratio of 20.09, a PEG ratio of 1.24 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted 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. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The business had revenue of $76.49 billion for the quarter, compared to analysts' expectations of $89.30 billion. During the same quarter in the previous year, the firm earned $1.89 earnings per share. On average, sell-side analysts expect that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Increases Dividend

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

Insider Activity at Alphabet

In other Alphabet news, Director John L. Hennessy sold 600 shares of the business's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $105,000.00. Following the transaction, the director owned 6,813 shares in the company, valued at approximately $1,192,275. The trade was a 8.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $170.87, for a total value of $5,553,275.00. Following the transaction, the chief executive officer owned 2,620,196 shares in the company, valued at $447,712,890.52. The trade was a 1.23% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 215,643 shares of company stock worth $36,330,928 in the last quarter. Company insiders own 11.64% of the company's stock.

Analysts Set New Price Targets

GOOGL has been the subject of several analyst reports. Needham & Company LLC reiterated a "buy" rating and issued a $178.00 price objective on shares of Alphabet in a research report on Friday, April 25th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $200.00 price objective on shares of Alphabet in a research report on Wednesday, April 23rd. Oppenheimer increased their price objective on Alphabet from $185.00 to $200.00 and gave the stock an "outperform" rating in a research report on Friday, April 25th. Roth Capital reiterated a "buy" rating and issued a $205.00 price objective (up from $180.00) on shares of Alphabet in a research report on Tuesday. Finally, BMO Capital Markets restated an "outperform" rating and set a $200.00 price target (down from $230.00) on shares of Alphabet in a research report on Thursday, April 17th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have given a strong buy rating to the company's stock. According to data from MarketBeat.com, Alphabet presently has an average rating of "Moderate Buy" and an average target price of $199.61.

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.