MeadowBrook Investment Advisors LLC Acquires New Stake in Alphabet Inc. (NASDAQ:GOOG)

MeadowBrook Investment Advisors LLC acquired a new stake in Alphabet Inc. (NASDAQ:GOOG) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 560 shares of the information services provider’s stock, valued at approximately $79,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Dakota Wealth Management increased its holdings in Alphabet by 13.9% during the 3rd quarter. Dakota Wealth Management now owns 152,936 shares of the information services provider’s stock worth $20,165,000 after purchasing an additional 18,671 shares during the period. Mayfair Advisory Group LLC increased its holdings in shares of Alphabet by 25.6% in the 3rd quarter. Mayfair Advisory Group LLC now owns 2,210 shares of the information services provider’s stock valued at $308,000 after acquiring an additional 450 shares during the last quarter. Verus Financial Partners Inc. purchased a new position in shares of Alphabet in the 3rd quarter valued at about $200,000. Financial Management Network Inc. increased its holdings in shares of Alphabet by 4.5% in the 3rd quarter. Financial Management Network Inc. now owns 17,940 shares of the information services provider’s stock valued at $2,445,000 after acquiring an additional 770 shares during the last quarter. Finally, Canvas Wealth Advisors LLC increased its holdings in shares of Alphabet by 1.5% in the 3rd quarter. Canvas Wealth Advisors LLC now owns 8,010 shares of the information services provider’s stock valued at $1,095,000 after acquiring an additional 120 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $146.29, for a total transaction of $3,291,525.00. Following the completion of the sale, the chief executive officer now owns 2,377,691 shares of the company’s stock, valued at $347,832,416.39. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $146.29, for a total transaction of $3,291,525.00. Following the completion of the sale, the chief executive officer now owns 2,377,691 shares of the company’s stock, valued at $347,832,416.39. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John L. Hennessy sold 2,100 shares of the company’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $175.76, for a total value of $369,096.00. Following the completion of the sale, the director now directly owns 5,891 shares of the company’s stock, valued at approximately $1,035,402.16. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 275,129 shares of company stock valued at $40,382,765. Company insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on GOOG shares. Raymond James raised their price target on Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 24th. Oppenheimer lifted their target price on Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research note on Monday, April 8th. Stifel Nicolaus lifted their target price on Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Morgan Stanley reiterated an “overweight” rating and issued a $165.00 target price on shares of Alphabet in a research note on Thursday, April 11th. Finally, Susquehanna lifted their target price on Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a research note on Wednesday, January 31st. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $165.67.

Alphabet Price Performance

Shares of NASDAQ GOOG traded up $0.84 during trading on Monday, reaching $169.83. The company had a trading volume of 15,132,966 shares, compared to its average volume of 22,754,559. Alphabet Inc. has a twelve month low of $105.79 and a twelve month high of $176.42. The stock has a market capitalization of $2.10 trillion, a PE ratio of 26.05, a price-to-earnings-growth ratio of 1.26 and a beta of 1.02. The stock has a 50-day moving average price of $152.08 and a two-hundred day moving average price of $143.95. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.51 by $0.38. The company had revenue of $80.54 billion during the quarter, compared to analysts’ expectations of $78.75 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The business’s revenue for the quarter was up 15.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.17 earnings per share. As a group, sell-side analysts predict that Alphabet Inc. will post 7.66 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently declared a — dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 10th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, June 10th.

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.