Meadow Creek Wealth Advisors LLC Acquires 323 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Meadow Creek Wealth Advisors LLC lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3.7% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 8,954 shares of the information services provider’s stock after buying an additional 323 shares during the period. Alphabet accounts for about 1.2% of Meadow Creek Wealth Advisors LLC’s investment portfolio, making the stock its 18th biggest holding. Meadow Creek Wealth Advisors LLC’s holdings in Alphabet were worth $1,695,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of GOOGL. Schear Investment Advisers LLC increased its stake in Alphabet by 17.0% in the third quarter. Schear Investment Advisers LLC now owns 33,751 shares of the information services provider’s stock valued at $5,598,000 after purchasing an additional 4,905 shares in the last quarter. Landscape Capital Management L.L.C. increased its position in Alphabet by 27.9% in the 3rd quarter. Landscape Capital Management L.L.C. now owns 25,275 shares of the information services provider’s stock valued at $4,192,000 after buying an additional 5,516 shares in the last quarter. abrdn plc increased its position in Alphabet by 10.7% in the 3rd quarter. abrdn plc now owns 6,305,717 shares of the information services provider’s stock valued at $1,037,196,000 after buying an additional 611,233 shares in the last quarter. Olistico Wealth LLC raised its stake in Alphabet by 9.1% during the 4th quarter. Olistico Wealth LLC now owns 8,981 shares of the information services provider’s stock worth $1,700,000 after buying an additional 746 shares during the period. Finally, Centaurus Financial Inc. boosted its holdings in Alphabet by 22.9% in the third quarter. Centaurus Financial Inc. now owns 61,540 shares of the information services provider’s stock worth $10,206,000 after acquiring an additional 11,481 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Insider Activity

In other Alphabet news, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $194.22, for a total value of $291,330.00. Following the sale, the director now owns 23,324 shares of the company’s stock, valued at $4,529,987.28. This trade represents a 6.04 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Amie Thuener O’toole sold 1,367 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $170.41, for a total value of $232,950.47. Following the transaction, the chief accounting officer now directly owns 23,515 shares of the company’s stock, valued at $4,007,191.15. The trade was a 5.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 89,529 shares of company stock worth $16,600,078 over the last ninety days. Company insiders own 11.55% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on GOOGL shares. Needham & Company LLC restated a “buy” rating and set a $225.00 price objective on shares of Alphabet in a report on Wednesday, February 5th. Piper Sandler lowered their price objective on shares of Alphabet from $210.00 to $208.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Roth Mkm lifted their price objective on shares of Alphabet from $206.00 to $212.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Wells Fargo & Company upped their target price on shares of Alphabet from $187.00 to $190.00 and gave the stock an “equal weight” rating in a report on Monday, January 13th. Finally, Cantor Fitzgerald cut their price target on Alphabet from $215.00 to $210.00 and set a “neutral” rating for the company in a research note on Wednesday, January 22nd. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $210.62.

Alphabet Stock Performance

NASDAQ GOOGL opened at $185.23 on Friday. The company’s 50 day moving average is $192.85 and its 200-day moving average is $175.14. The firm has a market cap of $2.27 trillion, a P/E ratio of 23.01, a price-to-earnings-growth ratio of 1.39 and a beta of 0.99. Alphabet Inc. has a 12-month low of $130.66 and a 12-month high of $207.05. The company has a quick ratio of 1.95, a current ratio of 1.84 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. Sell-side analysts predict that Alphabet Inc. will post 8.91 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date of this dividend is Monday, March 10th. Alphabet’s payout ratio is presently 9.94%.

Alphabet Company 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.