Alphabet Inc. (NASDAQ:GOOGL) is Meridian Wealth Management LLC’s 10th Largest Position

Meridian Wealth Management LLC raised its position in Alphabet Inc. (NASDAQ:GOOGL) by 31.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 130,436 shares of the information services provider’s stock after purchasing an additional 30,963 shares during the quarter. Alphabet accounts for approximately 1.2% of Meridian Wealth Management LLC’s holdings, making the stock its 10th biggest holding. Meridian Wealth Management LLC’s holdings in Alphabet were worth $18,221,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in GOOGL. Sonata Capital Group Inc. grew its holdings in shares of Alphabet by 5.1% in the third quarter. Sonata Capital Group Inc. now owns 3,720 shares of the information services provider’s stock worth $487,000 after purchasing an additional 180 shares during the last quarter. Ramsay Stattman Vela & Price Inc. raised its stake in Alphabet by 0.4% in the third quarter. Ramsay Stattman Vela & Price Inc. now owns 38,270 shares of the information services provider’s stock worth $5,008,000 after buying an additional 140 shares in the last quarter. Bordeaux Wealth Advisors LLC raised its position in shares of Alphabet by 6.0% in the 3rd quarter. Bordeaux Wealth Advisors LLC now owns 107,788 shares of the information services provider’s stock worth $14,105,000 after acquiring an additional 6,063 shares in the last quarter. Grove Bank & Trust lifted its position in shares of Alphabet by 6.4% during the third quarter. Grove Bank & Trust now owns 26,092 shares of the information services provider’s stock valued at $3,414,000 after buying an additional 1,574 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in Alphabet by 3.5% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 762,477 shares of the information services provider’s stock valued at $99,778,000 after acquiring an additional 25,964 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total value of $2,985,750.00. Following the transaction, the chief executive officer now directly owns 2,332,691 shares in the company, valued at $309,548,095.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director John L. Hennessy sold 2,100 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $175.76, for a total value of $369,096.00. Following the sale, the director now directly owns 5,891 shares of the company’s stock, valued at approximately $1,035,402.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total transaction of $2,985,750.00. Following the transaction, the chief executive officer now directly owns 2,332,691 shares of the company’s stock, valued at approximately $309,548,095.70. The disclosure for this sale can be found here. Insiders have sold 205,935 shares of company stock valued at $31,178,987 over the last ninety days. Company insiders own 11.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Needham & Company LLC increased their price target on Alphabet from $160.00 to $210.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Truist Financial raised their target price on Alphabet from $170.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Morgan Stanley reaffirmed an “overweight” rating and set a $195.00 price target on shares of Alphabet in a research report on Wednesday, May 15th. KeyCorp increased their price objective on Alphabet from $165.00 to $175.00 and gave the company an “overweight” rating in a report on Monday, April 22nd. Finally, Wedbush lifted their target price on Alphabet from $175.00 to $205.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Five equities research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $190.60.

Alphabet Trading Down 0.8 %

GOOGL opened at $176.38 on Thursday. The firm has a market capitalization of $2.18 trillion, a price-to-earnings ratio of 27.05, a price-to-earnings-growth ratio of 1.36 and a beta of 1.02. The company’s 50 day simple moving average is $159.52 and its two-hundred day simple moving average is $146.20. Alphabet Inc. has a 1-year low of $115.35 and a 1-year high of $178.77. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.15.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.40. The company had revenue of $80.54 billion for the quarter, compared to analyst estimates of $66.04 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. During the same quarter in the previous year, the company posted $1.17 earnings per share. Analysts expect that Alphabet Inc. will post 7.61 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 10th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.45%. The ex-dividend date of this dividend 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.