Meyer Handelman Co. lifted its holdings in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 0.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 77,980 shares of the information services provider’s stock after acquiring an additional 200 shares during the period. Meyer Handelman Co.’s holdings in Alphabet were worth $9,334,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also recently made changes to their positions in the business. Unique Wealth LLC raised its position in shares of Alphabet by 52.9% in the 2nd quarter. Unique Wealth LLC now owns 3,745 shares of the information services provider’s stock worth $448,000 after acquiring an additional 1,296 shares in the last quarter. Clear Harbor Asset Management LLC grew its stake in shares of Alphabet by 20.0% in the 2nd quarter. Clear Harbor Asset Management LLC now owns 109,129 shares of the information services provider’s stock valued at $13,063,000 after buying an additional 18,165 shares during the period. 1900 Wealth Management LLC grew its stake in shares of Alphabet by 3.4% in the 2nd quarter. 1900 Wealth Management LLC now owns 8,495 shares of the information services provider’s stock valued at $1,017,000 after buying an additional 280 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors grew its stake in shares of Alphabet by 68.6% in the 2nd quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 5,609 shares of the information services provider’s stock valued at $671,000 after buying an additional 2,283 shares during the period. Finally, Farmers Trust Co. grew its stake in shares of Alphabet by 1.0% in the 2nd quarter. Farmers Trust Co. now owns 102,800 shares of the information services provider’s stock valued at $12,305,000 after buying an additional 1,001 shares during the period. 35.08% of the stock is owned by institutional investors.
Analysts Set New Price Targets
Several analysts have recently commented on GOOGL shares. Bank of America raised their target price on Alphabet from $142.00 to $146.00 and gave the company a “buy” rating in a research note on Wednesday, October 4th. Susquehanna restated a “positive” rating and issued a $150.00 target price on shares of Alphabet in a research note on Thursday, August 31st. UBS Group downgraded Alphabet from a “buy” rating to a “neutral” rating and raised their target price for the company from $123.00 to $132.00 in a research note on Monday, June 26th. Sanford C. Bernstein lifted their price target on Alphabet from $130.00 to $135.00 in a research note on Wednesday, July 26th. Finally, StockNews.com began coverage on Alphabet in a research note on Thursday, October 5th. They set a “buy” rating for the company. Four research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and a consensus target price of $144.00.
Insider Buying and Selling at Alphabet
In other Alphabet news, Director Ann Mather sold 220 shares of the business’s stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $121.75, for a total transaction of $26,785.00. Following the sale, the director now owns 4,759 shares of the company’s stock, valued at approximately $579,408.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Ann Mather sold 220 shares of the company’s stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $121.75, for a total value of $26,785.00. Following the transaction, the director now owns 4,759 shares of the company’s stock, valued at $579,408.25. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director John L. Hennessy sold 200 shares of the company’s stock in a transaction on Tuesday, October 10th. The stock was sold at an average price of $139.93, for a total transaction of $27,986.00. Following the completion of the transaction, the director now directly owns 7,384 shares in the company, valued at approximately $1,033,243.12. The disclosure for this sale can be found here. Insiders have sold 101,291 shares of company stock valued at $13,555,462 in the last 90 days. 0.88% of the stock is currently owned by company insiders.
Alphabet Trading Down 0.3 %
NASDAQ:GOOGL opened at $138.06 on Wednesday. The company has a current ratio of 2.17, a quick ratio of 2.14 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $1.74 trillion, a PE ratio of 29.25, a price-to-earnings-growth ratio of 1.58 and a beta of 1.06. The firm’s 50 day moving average is $132.88 and its 200 day moving average is $122.24. Alphabet Inc. has a 12 month low of $83.34 and a 12 month high of $139.72.
Alphabet (NASDAQ:GOOGL – Get Free Report) last issued its earnings results on Tuesday, July 25th. The information services provider reported $1.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.32 by $0.12. Alphabet had a net margin of 21.05% and a return on equity of 23.49%. The business had revenue of $74.60 billion for the quarter, compared to analysts’ expectations of $60.24 billion. During the same quarter in the previous year, the firm posted $1.21 EPS. Sell-side analysts expect that Alphabet Inc. will post 5.68 earnings per share for the current year.
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, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
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