Meadow Creek Wealth Advisors LLC Sells 1,086 Shares of Alphabet Inc. $GOOGL

Meadow Creek Wealth Advisors LLC cut its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 12.1% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,888 shares of the information services provider’s stock after selling 1,086 shares during the quarter. Alphabet comprises 0.9% of Meadow Creek Wealth Advisors LLC’s investment portfolio, making the stock its 23rd biggest holding. Meadow Creek Wealth Advisors LLC’s holdings in Alphabet were worth $1,390,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Guardian Wealth Management Inc. boosted its position in shares of Alphabet by 242.9% during the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 119 shares in the last quarter. von Borstel & Associates Inc. purchased a new position in Alphabet during the first quarter valued at $28,000. IMA Advisory Services Inc. purchased a new position in Alphabet during the first quarter valued at $28,000. NBZ Investment Advisors LLC raised its stake in Alphabet by 85.7% during the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock valued at $30,000 after buying an additional 90 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. purchased a new position in Alphabet during the first quarter valued at $39,000. 40.03% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Frances Arnold sold 103 shares of Alphabet stock in a transaction on Tuesday, September 30th. The stock was sold at an average price of $243.13, for a total value of $25,042.39. Following the completion of the sale, the director owned 17,284 shares of the company’s stock, valued at $4,202,258.92. The trade was a 0.59% 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, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $250.15, for a total value of $8,129,875.00. Following the completion of the sale, the chief executive officer directly owned 2,369,619 shares of the company’s stock, valued at $592,760,192.85. The trade was a 1.35% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 222,330 shares of company stock valued at $51,167,625 over the last ninety days. 11.64% of the stock is owned by insiders.

Alphabet Stock Performance

Shares of GOOGL opened at $281.31 on Monday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. Alphabet Inc. has a one year low of $140.53 and a one year high of $291.59. The firm has a market capitalization of $3.40 trillion, a P/E ratio of 27.74, a PEG ratio of 1.86 and a beta of 1.00. The business has a fifty day moving average of $244.00 and a 200 day moving average of $200.31.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data 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 return on equity of 36.08% and a net margin of 32.23%.The company had revenue of $102.35 billion during the quarter, compared to analyst estimates of $99.90 billion. As a group, sell-side analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current year.

Analyst Upgrades and Downgrades

GOOGL has been the subject of a number of recent research reports. Citizens Jmp lifted their price objective on Alphabet from $250.00 to $290.00 and gave the company an “outperform” rating in a research note on Friday, September 19th. KeyCorp reiterated an “overweight” rating and set a $300.00 price objective (up previously from $265.00) on shares of Alphabet in a research note on Monday, October 27th. JMP Securities reiterated a “market outperform” rating and set a $290.00 price objective on shares of Alphabet in a research note on Wednesday, October 22nd. Canaccord Genuity Group lifted their price objective on Alphabet from $270.00 to $330.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Tigress Financial lifted their price objective on Alphabet from $240.00 to $280.00 and gave the company a “strong-buy” rating in a research note on Friday, September 5th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus target price of $302.20.

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.