The Arrow Financial Corp Reduces Stake in Alphabet Inc. (GOOG)

The Arrow Financial Corp Reduces Stake in Alphabet Inc. (GOOG)

Arrow Financial Corp decreased its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.4% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 5,639 shares of the company’s stock after selling 137 shares during the period. Alphabet comprises about 1.0% of Arrow Financial Corp’s investment portfolio, making the stock its 28th largest position. Arrow Financial Corp’s holdings in Alphabet were worth $3,903,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Marietta Investment Partners LLC purchased a new position in Alphabet during the first quarter valued at about $572,000. Nikko Asset Management Americas Inc. boosted its position in Alphabet by 16.6% in the first quarter. Nikko Asset Management Americas Inc. now owns 2,104 shares of the company’s stock valued at $1,579,000 after buying an additional 300 shares in the last quarter. Columbia Partners L L C Investment Management boosted its position in Alphabet by 0.9% in the first quarter. Columbia Partners L L C Investment Management now owns 42,866 shares of the company’s stock valued at $31,933,000 after buying an additional 401 shares in the last quarter. Botty Investors LLC boosted its position in Alphabet by 346.8% in the first quarter. Botty Investors LLC now owns 30,694 shares of the company’s stock valued at $22,865,000 after buying an additional 23,824 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV boosted its position in Alphabet by 2.4% in the first quarter. Massmutual Trust Co. FSB ADV now owns 5,259 shares of the company’s stock valued at $3,918,000 after buying an additional 124 shares in the last quarter. Institutional investors and hedge funds own 34.39% of the company’s stock.

Alphabet Inc. (NASDAQ:GOOG) remained flat at $795.37 during midday trading on Friday. 4,269,902 shares of the company’s stock were exchanged. The firm has a market capitalization of $548.12 billion, a P/E ratio of 29.03 and a beta of 1.03. Alphabet Inc. has a 12-month low of $663.06 and a 12-month high of $816.68. The company has a 50-day moving average of $781.75 and a 200-day moving average of $745.78.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Thursday, October 27th. The company reported $9.06 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $8.62 by $0.44. The business had revenue of $22.45 billion for the quarter, compared to analyst estimates of $13.17 billion. Alphabet had a return on equity of 15.39% and a net margin of 22.29%. The business’s revenue was up 20.2% compared to the same quarter last year. During the same period in the prior year, the company posted $7.35 EPS. Equities analysts predict that Alphabet Inc. will post $34.13 EPS for the current year.

GOOG has been the subject of several analyst reports. Cantor Fitzgerald reiterated a “buy” rating on shares of Alphabet in a research note on Friday, July 29th. RBC Capital Markets restated an “outperform” rating and set a $1,025.00 price objective (up from $1,000.00) on shares of Alphabet in a research report on Friday, September 30th. Deutsche Bank AG restated a “buy” rating and set a $1,050.00 price objective on shares of Alphabet in a research report on Wednesday, October 12th. SunTrust Banks Inc. restated a “buy” rating and set a $900.00 price objective (up from $850.00) on shares of Alphabet in a research report on Sunday, July 31st. Finally, Credit Agricole SA restated a “buy” rating and set a $990.00 price objective (up from $970.00) on shares of Alphabet in a research report on Sunday, July 31st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and forty-four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $939.36.

In related news, Director Ann Mather sold 115 shares of the company’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $769.38, for a total transaction of $88,478.70. Following the completion of the transaction, the director now directly owns 1,656 shares in the company, valued at approximately $1,274,093.28. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Sundar Pichai sold 4,000 shares of the stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $769.93, for a total value of $3,079,720.00. Following the completion of the transaction, the chief executive officer now directly owns 46,267 shares of the company’s stock, valued at approximately $35,622,351.31. The disclosure for this sale can be found here. Corporate insiders own 13.92% of the company’s stock.

Alphabet Company Profile

Alphabet Inc is a holding company. The Company holds interests in Google Inc (Google). The Company’s segments include Google and Other Bets. Google segment includes Internet products, such as Search, Ads, Commerce, Maps, YouTube, Apps, Cloud, Android, Chrome, Google Play, and hardware products, including Chromecast, Chromebooks and Nexus, which are sold by the Company.

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