Alphabet Inc. (NASDAQ:GOOG) Shares Purchased by Meridian Wealth Partners LLC

Meridian Wealth Partners LLC lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 3.6% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 3,824 shares of the information services provider’s stock after purchasing an additional 134 shares during the quarter. Meridian Wealth Partners LLC’s holdings in Alphabet were worth $539,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of GOOG. Magnus Financial Group LLC lifted its position in Alphabet by 1.6% in the fourth quarter. Magnus Financial Group LLC now owns 15,406 shares of the information services provider’s stock worth $2,171,000 after purchasing an additional 247 shares during the period. Convergence Investment Partners LLC grew its holdings in Alphabet by 1.4% during the fourth quarter. Convergence Investment Partners LLC now owns 18,878 shares of the information services provider’s stock worth $2,660,000 after acquiring an additional 267 shares during the period. Little House Capital LLC raised its position in Alphabet by 48.1% in the fourth quarter. Little House Capital LLC now owns 13,536 shares of the information services provider’s stock worth $1,908,000 after acquiring an additional 4,395 shares in the last quarter. Intellectus Partners LLC lifted its holdings in Alphabet by 0.7% in the 4th quarter. Intellectus Partners LLC now owns 78,258 shares of the information services provider’s stock valued at $11,029,000 after acquiring an additional 553 shares during the last quarter. Finally, RiverFront Investment Group LLC boosted its position in shares of Alphabet by 6.8% during the 4th quarter. RiverFront Investment Group LLC now owns 122,006 shares of the information services provider’s stock valued at $17,193,000 after purchasing an additional 7,781 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.

Insider Activity

In related news, CFO Ruth Porat sold 48,077 shares of the business’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $137.22, for a total transaction of $6,597,125.94. Following the transaction, the chief financial officer now owns 1,777,106 shares of the company’s stock, valued at $243,854,485.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Ruth Porat sold 48,077 shares of the business’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $137.22, for a total transaction of $6,597,125.94. Following the transaction, the chief financial officer now directly owns 1,777,106 shares in the company, valued at $243,854,485.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John L. Hennessy sold 300 shares of Alphabet stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $139.51, for a total value of $41,853.00. Following the sale, the director now directly owns 9,291 shares in the company, valued at approximately $1,296,187.41. The disclosure for this sale can be found here. Over the last three months, insiders sold 253,209 shares of company stock valued at $36,711,144. 12.99% of the stock is owned by company insiders.

Alphabet Price Performance

NASDAQ GOOG opened at $167.90 on Tuesday. The firm has a market cap of $2.09 trillion, a P/E ratio of 25.75, a price-to-earnings-growth ratio of 1.59 and a beta of 1.05. The stock’s 50-day moving average is $149.64 and its two-hundred day moving average is $142.97. Alphabet Inc. has a fifty-two week low of $104.50 and a fifty-two week high of $176.42. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.10.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.51 by $0.38. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The company had revenue of $80.54 billion for the quarter, compared to analyst estimates of $78.75 billion. During the same quarter last year, the firm posted $1.17 earnings per share. The company’s quarterly revenue was up 15.4% compared to the same quarter last year. On average, analysts anticipate that Alphabet Inc. will post 6.8 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently announced a — dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 10th will be issued a $0.20 dividend. The ex-dividend date is Monday, June 10th.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on GOOG shares. Oppenheimer lifted their price target on shares of Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research report on Monday, April 8th. Raymond James boosted their target price on Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 24th. Susquehanna lifted their price objective on shares of Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research report on Wednesday, January 31st. Stifel Nicolaus increased their price objective on Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Finally, Morgan Stanley restated an “overweight” rating and set a $165.00 price target on shares of Alphabet in a report on Thursday, April 11th. Six analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $165.67.

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.