Meridian Wealth Advisors LLC Sells 2,829 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Meridian Wealth Advisors LLC lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOGLFree Report) by 5.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 50,762 shares of the information services provider’s stock after selling 2,829 shares during the quarter. Alphabet makes up approximately 1.6% of Meridian Wealth Advisors LLC’s portfolio, making the stock its 13th largest holding. Meridian Wealth Advisors LLC’s holdings in Alphabet were worth $7,091,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. DiNuzzo Private Wealth Inc. purchased a new position in shares of Alphabet in the fourth quarter valued at $38,000. Meritage Group LP boosted its holdings in shares of Alphabet by 1,061.5% in the 3rd quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock worth $40,000 after purchasing an additional 276 shares in the last quarter. Macroview Investment Management LLC grew its position in Alphabet by 165.8% during the third quarter. Macroview Investment Management LLC now owns 319 shares of the information services provider’s stock valued at $42,000 after acquiring an additional 199 shares during the last quarter. Armor Investment Advisors LLC raised its position in Alphabet by 31.0% in the 4th quarter. Armor Investment Advisors LLC now owns 338 shares of the information services provider’s stock worth $47,000 after purchasing an additional 80 shares during the period. Finally, IAG Wealth Partners LLC lifted its stake in shares of Alphabet by 55.9% in the 4th quarter. IAG Wealth Partners LLC now owns 343 shares of the information services provider’s stock valued at $48,000 after acquiring an additional 123 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on GOOGL. Sanford C. Bernstein boosted their price objective on shares of Alphabet from $165.00 to $180.00 and gave the company a “market perform” rating in a research report on Friday, April 26th. UBS Group boosted their price target on shares of Alphabet from $150.00 to $166.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. Barclays raised their price objective on shares of Alphabet from $173.00 to $200.00 and gave the stock an “overweight” rating in a report on Friday, April 26th. Wells Fargo & Company increased their target price on Alphabet from $141.00 to $168.00 and gave the stock an “equal weight” rating in a research report on Friday, April 26th. Finally, Truist Financial boosted their price target on Alphabet from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Five analysts have rated the stock with a hold rating, thirty have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $190.60.

Get Our Latest Analysis on Alphabet

Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $143.08, for a total transaction of $3,219,300.00. Following the completion of the transaction, the chief executive officer now directly owns 2,355,191 shares of the company’s stock, valued at $336,980,728.28. The sale was disclosed in a filing with the SEC, which is available through this link. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $143.08, for a total transaction of $3,219,300.00. Following the completion of the transaction, the chief executive officer now directly owns 2,355,191 shares of the company’s stock, valued at $336,980,728.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $136.49, for a total value of $93,086.18. Following the completion of the transaction, the chief accounting officer now directly owns 28,602 shares in the company, valued at approximately $3,903,886.98. The disclosure for this sale can be found here. Over the last three months, insiders have sold 254,011 shares of company stock valued at $37,337,245. 0.88% of the stock is currently owned by insiders.

Alphabet Stock Up 0.7 %

NASDAQ GOOGL opened at $170.34 on Wednesday. Alphabet Inc. has a 12 month low of $115.35 and a 12 month high of $174.71. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05. The stock has a market cap of $2.11 trillion, a PE ratio of 26.13, a P/E/G ratio of 1.30 and a beta of 1.02. The stock’s 50 day moving average is $154.03 and its 200 day moving average is $143.91.

Alphabet (NASDAQ:GOOGLGet Free Report) last released its earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.49 by $0.40. The firm had revenue of $80.54 billion for the quarter, compared to the consensus estimate of $66.04 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. During the same quarter in the previous year, the firm earned $1.17 earnings per share. Research analysts predict that Alphabet Inc. will post 7.57 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 10th will be given a dividend of $0.20 per share. The ex-dividend date is Monday, June 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.47%.

Alphabet Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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