Meyer Handelman Co. Has $11.32 Million Stake in Alphabet Inc. (NASDAQ:GOOGL)

Meyer Handelman Co. reduced its stake in Alphabet Inc. (NASDAQ:GOOGL) by 9.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 81,051 shares of the information services provider’s stock after selling 8,679 shares during the quarter. Meyer Handelman Co.’s holdings in Alphabet were worth $11,322,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in GOOGL. Vanguard Group Inc. lifted its position in shares of Alphabet by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 487,435,495 shares of the information services provider’s stock worth $63,785,809,000 after purchasing an additional 1,302,104 shares during the last quarter. FMR LLC lifted its holdings in shares of Alphabet by 5.6% during the third quarter. FMR LLC now owns 227,317,469 shares of the information services provider’s stock worth $29,746,764,000 after buying an additional 12,070,681 shares during the last quarter. State Street Corp boosted its position in shares of Alphabet by 0.8% in the second quarter. State Street Corp now owns 218,540,033 shares of the information services provider’s stock valued at $26,159,242,000 after acquiring an additional 1,666,205 shares during the period. Moneta Group Investment Advisors LLC increased its position in Alphabet by 111,197.8% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 170,420,243 shares of the information services provider’s stock worth $15,036,178,000 after acquiring an additional 170,267,122 shares during the period. Finally, Geode Capital Management LLC grew its position in Alphabet by 2.3% in the 2nd quarter. Geode Capital Management LLC now owns 121,308,289 shares of the information services provider’s stock worth $14,481,781,000 after purchasing an additional 2,731,671 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $148.78, for a total value of $3,347,550.00. Following the completion of the transaction, the chief executive officer now directly owns 2,310,191 shares in the company, valued at $343,710,216.98. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Alphabet news, Director Frances Arnold sold 240 shares of the company’s stock in a transaction on Friday, December 29th. The shares were sold at an average price of $140.51, for a total transaction of $33,722.40. Following the sale, the director now directly owns 14,815 shares of the company’s stock, valued at $2,081,655.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $148.78, for a total transaction of $3,347,550.00. Following the completion of the transaction, the chief executive officer now directly owns 2,310,191 shares of the company’s stock, valued at approximately $343,710,216.98. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 251,378 shares of company stock worth $35,461,377. Corporate insiders own 0.88% of the company’s stock.

Alphabet Stock Up 0.1 %

Shares of Alphabet stock opened at $150.87 on Thursday. The firm has a market cap of $1.88 trillion, a PE ratio of 26.01, a P/E/G ratio of 1.39 and a beta of 1.04. The business’s 50 day simple moving average is $143.33 and its 200 day simple moving average is $138.03. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.10. Alphabet Inc. has a 52-week low of $99.74 and a 52-week high of $153.78.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.04. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The firm had revenue of $86.31 billion for the quarter, compared to analyst estimates of $70.77 billion. During the same period in the previous year, the business earned $1.05 EPS. On average, analysts predict that Alphabet Inc. will post 6.77 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

GOOGL has been the subject of a number of analyst reports. Wolfe Research raised their price target on shares of Alphabet from $170.00 to $180.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 31st. JMP Securities boosted their price target on Alphabet from $150.00 to $160.00 and gave the company a “market outperform” rating in a research note on Wednesday, January 31st. Wells Fargo & Company lifted their price objective on Alphabet from $141.00 to $144.00 and gave the company an “equal weight” rating in a report on Monday, March 18th. StockNews.com raised Alphabet from a “buy” rating to a “strong-buy” rating in a report on Wednesday, December 20th. Finally, Truist Financial dropped their price objective on shares of Alphabet from $160.00 to $158.00 and set a “buy” rating for the company in a research report on Wednesday, January 31st. Five investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus target price of $155.48.

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.