MeadowBrook Investment Advisors LLC Takes $79,000 Position in Alphabet Inc. (NASDAQ:GOOG)

MeadowBrook Investment Advisors LLC purchased a new stake in shares of Alphabet Inc. (NASDAQ:GOOG) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 560 shares of the information services provider’s stock, valued at approximately $79,000.

Several other institutional investors also recently added to or reduced their stakes in GOOG. JPMorgan Chase & Co. lifted its holdings in shares of Alphabet by 11.3% in the third quarter. JPMorgan Chase & Co. now owns 95,941,129 shares of the information services provider’s stock worth $12,649,838,000 after buying an additional 9,703,425 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in Alphabet in the fourth quarter valued at approximately $11,600,970,000. FMR LLC raised its stake in Alphabet by 3.8% in the third quarter. FMR LLC now owns 120,234,117 shares of the information services provider’s stock valued at $15,852,868,000 after purchasing an additional 4,348,188 shares in the last quarter. Cerity Partners LLC raised its stake in Alphabet by 198.7% in the fourth quarter. Cerity Partners LLC now owns 3,882,882 shares of the information services provider’s stock valued at $547,215,000 after purchasing an additional 2,583,128 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in Alphabet by 93.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 4,591,383 shares of the information services provider’s stock valued at $647,064,000 after purchasing an additional 2,222,950 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.

Analyst Upgrades and Downgrades

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

Alphabet Stock Up 0.5 %

Shares of GOOG stock traded up $0.84 during mid-day trading on Monday, reaching $169.83. 15,132,966 shares of the company’s stock traded hands, compared to its average volume of 22,754,559. Alphabet Inc. has a 12 month low of $105.79 and a 12 month high of $176.42. The company has a market cap of $2.10 trillion, a P/E ratio of 26.05, a P/E/G ratio of 1.26 and a beta of 1.02. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. The company’s 50-day moving average price is $152.08 and its 200-day moving average price is $143.95.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.38. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The firm had revenue of $80.54 billion during the quarter, compared to analyst estimates of $78.75 billion. During the same quarter in the previous year, the firm earned $1.17 EPS. Alphabet’s quarterly revenue was up 15.4% compared to the same quarter last year. On average, equities analysts expect that Alphabet Inc. will post 7.66 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently declared a — dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 10th will be paid a dividend of $0.20 per share. The ex-dividend date is Monday, June 10th.

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 2,377,691 shares in the company, valued at approximately $347,832,416.39. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CFO Ruth Porat sold 48,077 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the chief financial officer now directly owns 1,777,106 shares in the company, valued at approximately $243,854,485.32. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $146.29, for a total value of $3,291,525.00. Following the transaction, the chief executive officer now owns 2,377,691 shares of the company’s stock, valued at $347,832,416.39. The disclosure for this sale can be found here. Insiders sold a total of 275,129 shares of company stock worth $40,382,765 in the last three months. 12.99% of the stock is currently owned by company insiders.

About Alphabet

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.