Meadow Creek Wealth Advisors LLC Has $2.02 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Meadow Creek Wealth Advisors LLC lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 274.9% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 13,248 shares of the information services provider’s stock after buying an additional 9,714 shares during the quarter. Alphabet comprises about 1.4% of Meadow Creek Wealth Advisors LLC’s portfolio, making the stock its 15th largest holding. Meadow Creek Wealth Advisors LLC’s holdings in Alphabet were worth $2,017,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bruce G. Allen Investments LLC acquired a new stake in Alphabet in the 4th quarter worth about $26,000. Partnership Wealth Management LLC acquired a new position in shares of Alphabet in the 4th quarter valued at approximately $26,000. Equitec Proprietary Markets LLC acquired a new position in shares of Alphabet in the 4th quarter valued at approximately $28,000. DiNuzzo Private Wealth Inc. acquired a new position in shares of Alphabet in the 4th quarter valued at approximately $32,000. Finally, Pacific Capital Wealth Advisors Inc. acquired a new position in shares of Alphabet in the 4th quarter valued at approximately $34,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Oppenheimer boosted their target price on shares of Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research report on Monday, April 8th. Morgan Stanley restated an “overweight” rating and issued a $165.00 target price on shares of Alphabet in a research report on Thursday, April 11th. Stifel Nicolaus boosted their target price on shares of Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Finally, Rosenblatt Securities lowered shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target on the stock. in a report on Friday, June 28th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $167.86.

Alphabet Trading Up 0.4 %

Shares of Alphabet stock opened at $187.39 on Friday. The firm has a market capitalization of $2.32 trillion, a PE ratio of 28.74, a price-to-earnings-growth ratio of 1.41 and a beta of 1.05. 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 firm’s 50 day moving average is $175.99 and its 200 day moving average is $156.79. Alphabet Inc. has a 1 year low of $115.83 and a 1 year high of $187.62.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.38. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The company had revenue of $80.54 billion for the quarter, compared to analyst estimates of $78.75 billion. During the same period in the previous year, the firm posted $1.17 EPS. The firm’s revenue was up 15.4% on a year-over-year basis. Equities research analysts forecast that Alphabet Inc. will post 7.6 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently announced a — dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 10th were issued a dividend of $0.20 per share. The ex-dividend date was Monday, June 10th. Alphabet’s payout ratio is 12.27%.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $186.74, for a total transaction of $4,201,650.00. Following the sale, the chief executive officer now directly owns 2,227,385 shares of the company’s stock, valued at approximately $415,941,874.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $186.74, for a total transaction of $4,201,650.00. Following the sale, the chief executive officer now directly owns 2,227,385 shares of the company’s stock, valued at approximately $415,941,874.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Prabhakar Raghavan sold 3,262 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $183.99, for a total transaction of $600,175.38. Following the sale, the senior vice president now directly owns 9 shares in the company, valued at $1,655.91. The disclosure for this sale can be found here. Insiders have sold 146,288 shares of company stock valued at $25,345,053 in the last ninety days. 12.99% of the stock is currently owned by insiders.

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.