Meixler Investment Management Ltd. Sells 189 Shares of Alphabet Inc. $GOOG

Meixler Investment Management Ltd. trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 11.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,506 shares of the information services provider’s stock after selling 189 shares during the period. Meixler Investment Management Ltd.’s holdings in Alphabet were worth $267,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. IFS Advisors LLC increased its stake in Alphabet by 400.0% in the second quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock valued at $27,000 after purchasing an additional 120 shares in the last quarter. Robbins Farley increased its stake in Alphabet by 60.0% in the second quarter. Robbins Farley now owns 160 shares of the information services provider’s stock valued at $28,000 after purchasing an additional 60 shares in the last quarter. WestEnd Advisors LLC increased its stake in Alphabet by 58.7% in the second quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock valued at $29,000 after purchasing an additional 61 shares in the last quarter. Fairman Group LLC increased its stake in Alphabet by 121.3% in the second quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock valued at $31,000 after purchasing an additional 97 shares in the last quarter. Finally, Greykasell Wealth Strategies Inc. bought a new stake in Alphabet in the first quarter valued at approximately $32,000. 27.26% of the stock is owned by institutional investors.

Alphabet Stock Performance

Shares of GOOG opened at $284.12 on Tuesday. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $291.93. The firm has a fifty day simple moving average of $246.09 and a 200 day simple moving average of $202.22. The stock has a market capitalization of $3.44 trillion, a price-to-earnings ratio of 28.02, a PEG ratio of 1.86 and a beta of 1.00. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, topping the consensus estimate of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The business had revenue of $102.35 billion during the quarter, compared to analysts’ expectations of $99.90 billion. During the same quarter in the prior year, the company posted $2.12 earnings per share. The firm’s revenue was up 15.9% on a year-over-year basis. Research analysts forecast that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Insider Buying and Selling at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $229.73, for a total transaction of $7,466,225.00. Following the completion of the transaction, the chief executive officer owned 2,429,892 shares in the company, valued at approximately $558,219,089.16. This represents a 1.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 1,000 shares of the stock in a transaction on Friday, August 8th. The stock was sold at an average price of $200.00, for a total transaction of $200,000.00. Following the transaction, the director owned 6,916 shares of the company’s stock, valued at $1,383,200. The trade was a 12.63% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 222,442 shares of company stock worth $51,200,307. Company insiders own 12.99% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOG has been the subject of several recent analyst reports. Bank of America upped their target price on shares of Alphabet from $280.00 to $335.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. HSBC reaffirmed a “buy” rating and issued a $335.00 target price on shares of Alphabet in a research note on Thursday. Piper Sandler upped their price target on shares of Alphabet from $285.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Rosenblatt Securities set a $279.00 price target on shares of Alphabet in a report on Thursday. Finally, Hsbc Global Res upgraded shares of Alphabet to a “strong-buy” rating in a report on Tuesday, October 7th. Five equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and an average target price of $324.81.

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.