Alphabet Inc. (NASDAQ:GOOGL) Stake Trimmed by MeadowBrook Investment Advisors LLC

MeadowBrook Investment Advisors LLC cut its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,425 shares of the information services provider’s stock after selling 65 shares during the quarter. Alphabet accounts for 0.9% of MeadowBrook Investment Advisors LLC’s portfolio, making the stock its 26th largest position. MeadowBrook Investment Advisors LLC’s holdings in Alphabet were worth $994,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Wealth Group Ltd. boosted its position in shares of Alphabet by 5.2% in the fourth quarter. Wealth Group Ltd. now owns 1,582 shares of the information services provider’s stock valued at $299,000 after acquiring an additional 78 shares during the period. Eagle Capital Management LLC increased its position in Alphabet by 0.7% during the fourth quarter. Eagle Capital Management LLC now owns 50,132 shares of the information services provider’s stock worth $9,490,000 after acquiring an additional 371 shares during the period. Brighton Jones LLC raised its stake in Alphabet by 3.9% during the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock valued at $20,886,000 after purchasing an additional 4,110 shares during the last quarter. Revolve Wealth Partners LLC boosted its holdings in Alphabet by 3.5% in the 4th quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock valued at $2,826,000 after purchasing an additional 506 shares during the period. Finally, Highview Capital Management LLC DE grew its position in Alphabet by 3.6% in the 4th quarter. Highview Capital Management LLC DE now owns 29,100 shares of the information services provider’s stock worth $5,509,000 after purchasing an additional 1,003 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently commented on GOOGL shares. Piper Sandler upped their target price on Alphabet from $185.00 to $195.00 and gave the company an “overweight” rating in a research note on Friday, April 25th. Needham & Company LLC reaffirmed a “buy” rating and set a $178.00 price objective on shares of Alphabet in a report on Friday, April 25th. Royal Bank Of Canada reiterated an “outperform” rating and set a $200.00 target price on shares of Alphabet in a research report on Wednesday, April 23rd. KeyCorp increased their price target on shares of Alphabet from $185.00 to $195.00 and gave the stock an “overweight” rating in a research report on Friday, April 25th. Finally, Jefferies Financial Group lowered their price objective on Alphabet from $235.00 to $200.00 and set a “buy” rating on the stock in a research note on Monday, March 31st. Ten analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $199.82.

Alphabet Stock Performance

Shares of GOOGL stock opened at $182.00 on Wednesday. The company has a market capitalization of $2.21 trillion, a price-to-earnings ratio of 20.29, a price-to-earnings-growth ratio of 1.27 and a beta of 1.00. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77. Alphabet Inc. has a one year low of $140.53 and a one year high of $207.05. The company’s 50-day moving average is $171.04 and its 200 day moving average is $173.13.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.79. The business had revenue of $76.49 billion for the quarter, compared to analysts’ expectations of $89.30 billion. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. During the same period in the prior year, the firm posted $1.89 EPS. Sell-side analysts expect that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were given a $0.21 dividend. The ex-dividend date of this dividend was Monday, June 9th. This is an increase from Alphabet’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 0.46%. Alphabet’s dividend payout ratio (DPR) is currently 9.36%.

Insiders Place Their Bets

In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of the company’s stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $1,837,500.00. Following the transaction, the director owned 261,966 shares of the company’s stock, valued at $45,844,050. This represents a 3.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director John L. Hennessy sold 600 shares of Alphabet stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $105,000.00. Following the sale, the director owned 6,813 shares of the company’s stock, valued at approximately $1,192,275. This trade represents a 8.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 182,943 shares of company stock valued at $31,223,348 over the last three months. 11.55% of the stock is owned by company 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.