Meyer Handelman Co. Raises Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Meyer Handelman Co. boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 109,283 shares of the information services provider’s stock after acquiring an additional 3,450 shares during the quarter. Meyer Handelman Co.’s holdings in Alphabet were worth $18,125,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the business. New Hampshire Trust increased its holdings in Alphabet by 2.7% during the 2nd quarter. New Hampshire Trust now owns 43,714 shares of the information services provider’s stock worth $7,963,000 after purchasing an additional 1,132 shares during the period. Berkshire Money Management Inc. bought a new stake in shares of Alphabet in the first quarter valued at about $359,000. Schneider Downs Wealth Management Advisors LP grew its holdings in Alphabet by 58.4% during the 1st quarter. Schneider Downs Wealth Management Advisors LP now owns 6,374 shares of the information services provider’s stock worth $962,000 after acquiring an additional 2,351 shares in the last quarter. Sanders Morris Harris LLC bought a new position in Alphabet during the 1st quarter worth about $842,000. Finally, Trinity Financial Advisors LLC raised its holdings in shares of Alphabet by 4.5% in the 3rd quarter. Trinity Financial Advisors LLC now owns 4,423 shares of the information services provider’s stock valued at $771,000 after purchasing an additional 190 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Alphabet Stock Up 0.3 %

Alphabet stock opened at $163.42 on Monday. Alphabet Inc. has a 52 week low of $120.21 and a 52 week high of $191.75. The firm has a market cap of $2.02 trillion, a price-to-earnings ratio of 25.06, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04. The business’s 50-day moving average price is $161.77 and its 200 day moving average price is $168.25. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.04. The business had revenue of $84.74 billion for the quarter, compared to analyst estimates of $70.60 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same period in the prior year, the company posted $1.44 EPS. As a group, sell-side analysts anticipate that Alphabet Inc. will post 7.64 earnings per share for the current year.

Analysts Set New Price Targets

GOOGL has been the topic of several research reports. Needham & Company LLC reissued a “buy” rating and set a $210.00 price objective on shares of Alphabet in a report on Tuesday, October 15th. Mizuho lifted their price target on Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Jefferies Financial Group upped their price objective on Alphabet from $215.00 to $220.00 in a research note on Tuesday, July 9th. The Goldman Sachs Group cut their target price on Alphabet from $217.00 to $208.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Finally, Rosenblatt Securities reissued a “neutral” rating and set a $181.00 price target on shares of Alphabet in a research report on Wednesday, July 24th. Eight research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $201.76.

Insider Activity at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the transaction, the chief executive officer now directly owns 2,182,385 shares of the company’s stock, valued at $354,310,204.75. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Alphabet news, CAO Amie Thuener O’toole sold 2,834 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $167.23, for a total transaction of $473,929.82. Following the completion of the transaction, the chief accounting officer now owns 26,349 shares of the company’s stock, valued at $4,406,343.27. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total value of $3,652,875.00. Following the completion of the sale, the chief executive officer now directly owns 2,182,385 shares in the company, valued at $354,310,204.75. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 220,426 shares of company stock valued at $35,993,340. 11.55% of the stock is owned by company insiders.

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.