Meyer Handelman Co. Acquires 10,883 Shares of Alphabet Inc. (NASDAQ:GOOG)

Meyer Handelman Co. boosted its stake in Alphabet Inc. (NASDAQ:GOOG) by 3.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 303,173 shares of the information services provider’s stock after purchasing an additional 10,883 shares during the period. Alphabet comprises approximately 1.6% of Meyer Handelman Co.’s investment portfolio, making the stock its 16th biggest position. Meyer Handelman Co.’s holdings in Alphabet were worth $46,161,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Partnership Wealth Management LLC acquired a new position in shares of Alphabet in the 4th quarter worth approximately $26,000. Bruce G. Allen Investments LLC acquired a new position in Alphabet in the fourth quarter valued at $26,000. Equitec Proprietary Markets LLC bought a new stake in Alphabet during the fourth quarter valued at $28,000. DiNuzzo Private Wealth Inc. acquired a new stake in Alphabet during the 4th quarter worth about $32,000. Finally, Richardson Financial Services Inc. bought a new position in shares of Alphabet in the 4th quarter worth about $34,000. 27.26% of the stock is currently owned by institutional investors.

Alphabet Price Performance

GOOG opened at $180.26 on Friday. The firm has a market cap of $2.23 trillion, a P/E ratio of 27.65, a PEG ratio of 1.33 and a beta of 1.01. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15. Alphabet Inc. has a fifty-two week low of $115.83 and a fifty-two week high of $182.51. The firm has a 50-day moving average of $171.61 and a 200 day moving average of $153.96.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.51 by $0.38. The company had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $78.75 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The firm’s quarterly revenue was up 15.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.17 EPS. On average, research analysts expect that Alphabet Inc. will post 7.6 EPS for the current year.

Alphabet Announces Dividend

The business also recently declared a — dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 10th were issued a $0.20 dividend. The ex-dividend date of this dividend was Monday, June 10th. Alphabet’s payout ratio is currently 12.27%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on GOOG shares. Oppenheimer raised their target price on Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research note on Monday, April 8th. Stifel Nicolaus boosted their price target on shares of Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $165.00 price objective on shares of Alphabet in a research note on Thursday, April 11th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, Alphabet presently has an average rating of “Buy” and an average price target of $165.67.

Insider Transactions at Alphabet

In related news, Director John L. Hennessy sold 1,500 shares of the stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $177.92, for a total transaction of $266,880.00. Following the sale, the director now owns 3,727 shares of the company’s stock, valued at approximately $663,107.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director John L. Hennessy sold 1,500 shares of the business’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $177.92, for a total transaction of $266,880.00. Following the completion of the transaction, the director now directly owns 3,727 shares in the company, valued at approximately $663,107.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $176.58, for a total value of $3,973,050.00. Following the sale, the chief executive officer now directly owns 2,235,511 shares of the company’s stock, valued at approximately $394,746,532.38. The disclosure for this sale can be found here. Insiders sold 135,958 shares of company stock valued at $22,383,553 over the last three months. Company insiders own 12.99% of the company’s stock.

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.