Meadowbrook Advisors Group LLC Takes $4.76 Million Position in Alphabet Inc. $GOOGL

Meadowbrook Advisors Group LLC purchased a new position in shares of Alphabet Inc. (NASDAQ:GOOGLFree Report) in the 4th quarter, Holdings Channel reports. The fund purchased 15,223 shares of the information services provider’s stock, valued at approximately $4,765,000. Alphabet comprises about 2.7% of Meadowbrook Advisors Group LLC’s holdings, making the stock its 5th largest position.

Other large investors have also modified their holdings of the company. DUTCH ASSET Corp bought a new stake in Alphabet in the 4th quarter valued at about $3,250,000. Larry Mathis Financial Planning LLC acquired a new stake in shares of Alphabet in the fourth quarter valued at approximately $1,226,000. Green Ridge Wealth Planning LLC acquired a new stake in shares of Alphabet in the fourth quarter valued at approximately $6,483,000. Downshift Financial LLC bought a new stake in shares of Alphabet during the fourth quarter valued at approximately $298,000. Finally, Advisortrust Partners LLC bought a new stake in shares of Alphabet during the fourth quarter valued at approximately $986,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Trading Down 5.0%

Shares of Alphabet stock opened at $349.68 on Tuesday. The business has a fifty day simple moving average of $367.66 and a 200-day simple moving average of $332.31. Alphabet Inc. has a fifty-two week low of $162.00 and a fifty-two week high of $408.61. The firm has a market cap of $4.24 trillion, a price-to-earnings ratio of 26.67, a price-to-earnings-growth ratio of 1.57 and a beta of 1.23. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.16.

Alphabet (NASDAQ:GOOGLGet Free Report) last released its earnings results on Wednesday, April 29th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.64 by $2.47. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The firm had revenue of $109.90 billion for the quarter, compared to analyst estimates of $106.98 billion. On average, equities analysts forecast that Alphabet Inc. will post 14.3 EPS for the current fiscal year.

Alphabet Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 8th were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Monday, June 8th. This is an increase from Alphabet’s previous quarterly dividend of $0.21. Alphabet’s payout ratio is presently 6.71%.

Insider Buying and Selling at Alphabet

In other Alphabet news, insider John Kent Walker sold 8,993 shares of the company’s stock in a transaction on Friday, March 27th. The stock was sold at an average price of $275.89, for a total value of $2,481,078.77. Following the transaction, the insider owned 51,808 shares of the company’s stock, valued at approximately $14,293,309.12. This represents a 14.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 1,050 shares of the stock in a transaction on Monday, June 15th. The shares were sold at an average price of $368.63, for a total value of $387,061.50. Following the sale, the director owned 1,481 shares of the company’s stock, valued at $545,941.03. This trade represents a 41.49% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 160,516 shares of company stock valued at $7,344,604. Corporate insiders own 11.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on GOOGL shares. Freedom Capital lowered Alphabet from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Wells Fargo & Company reiterated an “overweight” rating and set a $435.00 price target (up from $427.00) on shares of Alphabet in a research report on Wednesday, May 20th. Arete Research increased their price target on Alphabet from $405.00 to $425.00 and gave the stock a “buy” rating in a research note on Monday, May 18th. BMO Capital Markets raised their price target on Alphabet from $410.00 to $435.00 and gave the company an “outperform” rating in a report on Thursday, April 30th. Finally, Roth Mkm restated a “buy” rating on shares of Alphabet in a research note on Thursday, April 30th. Two equities research analysts have rated the stock with a Strong Buy rating, forty-seven have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $413.13.

Read Our Latest Stock Report on GOOGL

Key Alphabet News

Here are the key news stories impacting Alphabet this week:

Alphabet Company Profile

(Free Report)

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.

See Also

Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGLFree Report).

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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