Meridian Wealth Partners LLC Has $1.24 Million Position in Alphabet Inc. (NASDAQ:GOOGL)

Meridian Wealth Partners LLC lifted its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 6.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,867 shares of the information services provider’s stock after buying an additional 572 shares during the period. Meridian Wealth Partners LLC’s holdings in Alphabet were worth $1,239,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Meritage Group LP boosted its position in Alphabet by 1,061.5% during the third quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock valued at $40,000 after purchasing an additional 276 shares during the last quarter. Macroview Investment Management LLC boosted its position in Alphabet by 165.8% during the third quarter. Macroview Investment Management LLC now owns 319 shares of the information services provider’s stock valued at $42,000 after purchasing an additional 199 shares during the last quarter. Armor Investment Advisors LLC boosted its position in Alphabet by 31.0% during the fourth quarter. Armor Investment Advisors LLC now owns 338 shares of the information services provider’s stock valued at $47,000 after purchasing an additional 80 shares during the last quarter. IAG Wealth Partners LLC boosted its position in Alphabet by 55.9% during the fourth quarter. IAG Wealth Partners LLC now owns 343 shares of the information services provider’s stock valued at $48,000 after purchasing an additional 123 shares during the last quarter. Finally, Valued Wealth Advisors LLC acquired a new position in Alphabet during the fourth quarter valued at approximately $55,000. 40.03% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $146.29, for a total transaction of $3,291,525.00. Following the sale, the chief executive officer now owns 2,377,691 shares of the company’s stock, valued at approximately $347,832,416.39. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $146.29, for a total transaction of $3,291,525.00. Following the sale, the chief executive officer now owns 2,377,691 shares of the company’s stock, valued at approximately $347,832,416.39. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Ruth Porat sold 48,077 shares of the firm’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $137.22, for a total value of $6,597,125.94. Following the sale, the chief financial officer now directly owns 1,777,106 shares in the company, valued at approximately $243,854,485.32. The disclosure for this sale can be found here. In the last quarter, insiders have sold 275,129 shares of company stock valued at $40,382,765. 0.88% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Royal Bank of Canada raised their price objective on Alphabet from $155.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Oppenheimer raised their price objective on Alphabet from $185.00 to $205.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. UBS Group raised their price objective on Alphabet from $150.00 to $166.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. JPMorgan Chase & Co. raised their price objective on Alphabet from $165.00 to $200.00 and gave the company an “overweight” rating in a research report on Friday, April 26th. Finally, Rosenblatt Securities raised their price objective on Alphabet from $172.00 to $182.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Five research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $190.60.

Alphabet Trading Up 0.5 %

Shares of GOOGL stock opened at $168.10 on Tuesday. The stock’s fifty day moving average price is $150.75 and its two-hundred day moving average price is $142.58. The company has a market cap of $2.08 trillion, a PE ratio of 25.78, a P/E/G ratio of 1.28 and a beta of 1.02. Alphabet Inc. has a fifty-two week low of $105.16 and a fifty-two week high of $174.71. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.40. The firm had revenue of $80.54 billion for the quarter, compared to the consensus estimate of $66.04 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. During the same quarter last year, the business posted $1.17 EPS. Equities analysts predict that Alphabet Inc. will post 7.57 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 10th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date is Monday, June 10th.

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.