Meyer Handelman Co. Purchases 11,750 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Meyer Handelman Co. boosted its position in shares of Alphabet Inc. (NASDAQ:GOOGLFree Report) by 15.1% in the 3rd quarter, Holdings Channel.com reports. The fund owned 89,730 shares of the information services provider’s stock after purchasing an additional 11,750 shares during the period. Meyer Handelman Co.’s holdings in Alphabet were worth $11,742,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Live Oak Investment Partners purchased a new position in Alphabet in the 4th quarter worth approximately $26,000. CarsonAllaria Wealth Management Ltd. lifted its holdings in shares of Alphabet by 136.7% in the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 284 shares of the information services provider’s stock worth $34,000 after acquiring an additional 164 shares during the last quarter. VitalStone Financial LLC lifted its holdings in shares of Alphabet by 1,900.0% in the 2nd quarter. VitalStone Financial LLC now owns 280 shares of the information services provider’s stock worth $34,000 after acquiring an additional 266 shares during the last quarter. Sanctuary Wealth Management L.L.C. bought a new stake in shares of Alphabet in the 4th quarter worth approximately $34,000. Finally, Turim 21 Investimentos Ltda. bought a new stake in shares of Alphabet in the 3rd quarter worth approximately $38,000. Hedge funds and other institutional investors own 35.08% of the company’s stock.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 420 shares of the stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $133.32, for a total value of $55,994.40. Following the transaction, the chief accounting officer now owns 26,833 shares in the company, valued at approximately $3,577,375.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Alphabet news, Director John L. Hennessy sold 200 shares of the firm’s stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $132.92, for a total transaction of $26,584.00. Following the sale, the director now owns 7,184 shares in the company, valued at approximately $954,897.28. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 420 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $133.32, for a total transaction of $55,994.40. Following the sale, the chief accounting officer now owns 26,833 shares in the company, valued at approximately $3,577,375.56. The disclosure for this sale can be found here. Insiders have sold 114,674 shares of company stock worth $16,162,276 in the last quarter. Company insiders own 0.88% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Citigroup boosted their price objective on shares of Alphabet from $153.00 to $168.00 and gave the stock a “buy” rating in a report on Wednesday, January 31st. Piper Sandler boosted their price objective on shares of Alphabet from $147.00 to $150.00 and gave the stock an “overweight” rating in a report on Wednesday, October 25th. Wedbush reiterated an “outperform” rating and set a $160.00 price target on shares of Alphabet in a report on Wednesday, January 31st. Truist Financial lowered their price target on shares of Alphabet from $160.00 to $158.00 and set a “buy” rating for the company in a report on Wednesday, January 31st. Finally, Tigress Financial upped their price target on shares of Alphabet from $172.00 to $176.00 and gave the company a “strong-buy” rating in a report on Tuesday, November 21st. Five research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus price target of $153.65.

Check Out Our Latest Research Report on Alphabet

Alphabet Price Performance

GOOGL opened at $144.10 on Wednesday. The company’s 50-day simple moving average is $139.90 and its two-hundred day simple moving average is $135.29. Alphabet Inc. has a 52-week low of $88.57 and a 52-week high of $153.78. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.10. The stock has a market capitalization of $1.80 trillion, a P/E ratio of 24.84, a P/E/G ratio of 1.33 and a beta of 1.06.

Alphabet (NASDAQ:GOOGLGet Free Report) last issued its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, topping 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 analysts’ expectations of $70.77 billion. During the same quarter in the prior year, the business earned $1.05 EPS. As a group, analysts predict that Alphabet Inc. will post 6.76 EPS for the current year.

Alphabet Profile

(Free Report)

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, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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