Alphabet Inc. $GOOG Shares Bought by Meeder Advisory Services Inc.

Meeder Advisory Services Inc. lifted its position in shares of Alphabet Inc. (NASDAQ:GOOGFree Report) by 1.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 107,237 shares of the information services provider’s stock after purchasing an additional 1,671 shares during the period. Alphabet comprises about 1.2% of Meeder Advisory Services Inc.’s holdings, making the stock its 18th largest position. Meeder Advisory Services Inc.’s holdings in Alphabet were worth $26,117,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Cedar Mountain Advisors LLC grew its position in shares of Alphabet by 11.8% during the third quarter. Cedar Mountain Advisors LLC now owns 370 shares of the information services provider’s stock worth $90,000 after acquiring an additional 39 shares during the last quarter. Higgins & Schmidt Wealth Strategies LLC boosted its stake in Alphabet by 2.2% during the 3rd quarter. Higgins & Schmidt Wealth Strategies LLC now owns 1,818 shares of the information services provider’s stock worth $443,000 after purchasing an additional 40 shares during the period. Hartmann Taylor Wealth Management LLC grew its position in Alphabet by 2.3% during the 3rd quarter. Hartmann Taylor Wealth Management LLC now owns 1,813 shares of the information services provider’s stock worth $442,000 after purchasing an additional 40 shares during the last quarter. Riverbend Wealth Management LLC increased its stake in Alphabet by 1.0% in the third quarter. Riverbend Wealth Management LLC now owns 4,198 shares of the information services provider’s stock valued at $1,023,000 after purchasing an additional 41 shares during the period. Finally, Meritas Wealth Management LLC raised its holdings in shares of Alphabet by 3.0% in the third quarter. Meritas Wealth Management LLC now owns 1,458 shares of the information services provider’s stock valued at $355,000 after buying an additional 42 shares during the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Barclays raised their price target on Alphabet from $250.00 to $315.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. Hsbc Global Res raised Alphabet to a “strong-buy” rating in a research report on Tuesday, October 7th. Bank of America boosted their target price on Alphabet from $280.00 to $335.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Jefferies Financial Group restated a “buy” rating and set a $365.00 price target on shares of Alphabet in a research note on Monday, January 5th. Finally, UBS Group reiterated a “neutral” rating on shares of Alphabet in a research report on Thursday, October 30th. Seven investment analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Alphabet currently has a consensus rating of “Buy” and a consensus price target of $320.31.

Read Our Latest Stock Report on GOOG

Alphabet Stock Down 0.8%

Alphabet stock opened at $330.34 on Monday. The stock’s 50 day moving average price is $312.04 and its 200 day moving average price is $256.10. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $341.20. The company has a market cap of $3.99 trillion, a PE ratio of 32.58, a price-to-earnings-growth ratio of 1.82 and a beta of 1.09. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.75 and a quick ratio of 1.75.

Alphabet (NASDAQ:GOOGGet Free Report) last released its quarterly earnings data on Thursday, October 30th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.58. The firm had revenue of $102.35 billion during the quarter, compared to analysts’ expectations of $99.90 billion. Alphabet had a return on equity of 35.00% and a net margin of 32.23%.Alphabet’s revenue was up 15.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.12 earnings per share. On average, sell-side analysts predict that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 8th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date was Monday, December 8th. Alphabet’s dividend payout ratio is presently 8.28%.

Insiders Place Their Bets

In other Alphabet news, insider John Kent Walker sold 17,829 shares of the stock in a transaction dated Tuesday, December 30th. The shares were sold at an average price of $314.89, for a total value of $5,614,173.81. Following the completion of the transaction, the insider directly owned 42,972 shares of the company’s stock, valued at approximately $13,531,453.08. This trade represents a 29.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 2,778 shares of the company’s stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $288.26, for a total value of $800,786.28. Following the completion of the sale, the chief accounting officer owned 11,739 shares in the company, valued at approximately $3,383,884.14. This represents a 19.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 192,687 shares of company stock worth $58,728,068. 12.99% of the stock is owned by company insiders.

Trending Headlines about Alphabet

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Alphabet Company Profile

(Free Report)

Alphabet Inc (NASDAQ: GOOG) is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as “Other Bets.” Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company’s history.

Alphabet’s core business centers on internet search and advertising, with Google Search and the company’s ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.

Further Reading

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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