MeadowBrook Investment Advisors LLC Sells 65 Shares of Alphabet Inc. (NASDAQ:GOOGL)

MeadowBrook Investment Advisors LLC lessened its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,425 shares of the information services provider’s stock after selling 65 shares during the period. Alphabet accounts for 0.9% of MeadowBrook Investment Advisors LLC’s holdings, making the stock its 26th biggest holding. MeadowBrook Investment Advisors LLC’s holdings in Alphabet were worth $994,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Burt Wealth Advisors grew its stake in shares of Alphabet by 1.0% during the 4th quarter. Burt Wealth Advisors now owns 5,307 shares of the information services provider’s stock valued at $1,005,000 after acquiring an additional 54 shares during the period. Perritt Capital Management Inc lifted its stake in Alphabet by 10.4% in the 4th quarter. Perritt Capital Management Inc now owns 618 shares of the information services provider’s stock worth $117,000 after purchasing an additional 58 shares in the last quarter. Nia Impact Advisors LLC increased its holdings in shares of Alphabet by 0.3% in the fourth quarter. Nia Impact Advisors LLC now owns 17,161 shares of the information services provider’s stock worth $3,249,000 after purchasing an additional 59 shares during the last quarter. Hanlon Investment Management Inc. raised its holdings in shares of Alphabet by 1.7% during the 4th quarter. Hanlon Investment Management Inc. now owns 3,553 shares of the information services provider’s stock worth $673,000 after acquiring an additional 60 shares in the last quarter. Finally, Enzi Wealth boosted its position in shares of Alphabet by 2.5% during the 1st quarter. Enzi Wealth now owns 2,561 shares of the information services provider’s stock valued at $408,000 after acquiring an additional 62 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on GOOGL shares. Wells Fargo & Company upped their price target on shares of Alphabet from $175.00 to $177.00 and gave the company an “equal weight” rating in a report on Tuesday, July 8th. KeyCorp lifted their target price on Alphabet from $185.00 to $195.00 and gave the stock an “overweight” rating in a research report on Friday, April 25th. Needham & Company LLC reiterated a “buy” rating and issued a $178.00 price target on shares of Alphabet in a report on Friday, April 25th. Mizuho reduced their price objective on Alphabet from $230.00 to $205.00 and set an “outperform” rating on the stock in a report on Wednesday, April 9th. Finally, Wedbush set a $190.00 target price on Alphabet and gave the stock an “outperform” rating in a report on Tuesday, April 15th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $199.82.

Insider Activity

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total value of $5,801,900.00. Following the transaction, the chief executive officer owned 2,559,892 shares of the company’s stock, valued at $456,991,919.84. This trade represents a 1.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John L. Hennessy sold 600 shares of the company’s stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $105,000.00. Following the transaction, the director directly owned 6,813 shares of the company’s stock, valued at $1,192,275. This trade represents a 8.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 182,943 shares of company stock valued at $31,223,348. Company insiders own 11.55% of the company’s stock.

Alphabet Stock Performance

Shares of NASDAQ GOOGL opened at $182.00 on Wednesday. The company has a 50-day simple moving average of $171.04 and a 200-day simple moving average of $173.13. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77. The company has a market cap of $2.21 trillion, a PE ratio of 20.29, a price-to-earnings-growth ratio of 1.27 and a beta of 1.00. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $207.05.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.79. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The firm had revenue of $76.49 billion during the quarter, compared to analysts’ expectations of $89.30 billion. During the same quarter in the prior year, the business earned $1.89 EPS. On average, equities analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were issued a $0.21 dividend. The ex-dividend date was Monday, June 9th. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 0.46%. Alphabet’s payout ratio is 9.36%.

About Alphabet

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.