MeadowBrook Investment Advisors LLC Acquires 205 Shares of Alphabet Inc. (NASDAQ:GOOGL)

MeadowBrook Investment Advisors LLC increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3.1% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,825 shares of the information services provider’s stock after purchasing an additional 205 shares during the period. Alphabet accounts for 1.0% of MeadowBrook Investment Advisors LLC’s holdings, making the stock its 26th biggest holding. MeadowBrook Investment Advisors LLC’s holdings in Alphabet were worth $1,132,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GOOGL. New Hampshire Trust increased its position in shares of Alphabet by 2.7% during the second 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 in the last quarter. Trinity Financial Advisors LLC boosted its position 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 worth $771,000 after purchasing an additional 190 shares in the last quarter. abrdn plc boosted its position in shares of Alphabet by 10.7% in the 3rd quarter. abrdn plc now owns 6,305,717 shares of the information services provider’s stock worth $1,037,196,000 after purchasing an additional 611,233 shares in the last quarter. StoneCrest Wealth Management Inc. boosted its position in shares of Alphabet by 0.7% in the 3rd quarter. StoneCrest Wealth Management Inc. now owns 21,509 shares of the information services provider’s stock worth $3,567,000 after purchasing an additional 140 shares in the last quarter. Finally, EWG Elevate Inc. boosted its position in shares of Alphabet by 9.7% in the 3rd quarter. EWG Elevate Inc. now owns 1,305 shares of the information services provider’s stock worth $216,000 after purchasing an additional 115 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on GOOGL shares. Loop Capital raised their price objective on Alphabet from $170.00 to $185.00 and gave the stock a “hold” rating in a research report on Wednesday, November 6th. Roth Mkm raised their price objective on Alphabet from $206.00 to $212.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Morgan Stanley raised their price objective on Alphabet from $190.00 to $205.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Sanford C. Bernstein raised their price objective on Alphabet from $180.00 to $185.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 30th. Finally, DA Davidson began coverage on Alphabet in a research report on Tuesday, September 10th. They set a “neutral” rating and a $170.00 price target for the company. Seven analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $205.90.

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, September 4th. The stock was sold at an average price of $158.68, for a total transaction of $3,570,300.00. Following the completion of the sale, the chief executive officer now directly owns 2,137,385 shares in the company, valued at approximately $339,160,251.80. The trade was a 1.04 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,835 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total value of $429,587.55. Following the sale, the chief accounting officer now owns 29,182 shares of the company’s stock, valued at approximately $4,421,948.46. This trade represents a 8.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 206,795 shares of company stock worth $34,673,866. Corporate insiders own 11.55% of the company’s stock.

Alphabet Price Performance

Shares of Alphabet stock opened at $169.23 on Friday. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a twelve month low of $127.90 and a twelve month high of $191.75. The business has a 50-day moving average price of $168.36 and a 200 day moving average price of $170.33. The firm has a market cap of $2.07 trillion, a PE ratio of 22.44, a P/E/G ratio of 1.19 and a beta of 1.03.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping the consensus estimate of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The company had revenue of $88.27 billion during the quarter, compared to analyst estimates of $72.85 billion. During the same period in the previous year, the business earned $1.55 EPS. Sell-side analysts predict that Alphabet Inc. will post 8.01 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be paid a dividend of $0.20 per share. The ex-dividend date is Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.47%. Alphabet’s dividend payout ratio (DPR) is currently 10.61%.

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.