Meyer Handelman Co. Has $50.78 Million Position in Alphabet Inc. (NASDAQ:GOOG)

Meyer Handelman Co. increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.1% in the 3rd quarter, Holdings Channel.com reports. The firm owned 303,748 shares of the information services provider’s stock after acquiring an additional 250 shares during the quarter. Alphabet makes up approximately 1.7% of Meyer Handelman Co.’s portfolio, making the stock its 14th largest position. Meyer Handelman Co.’s holdings in Alphabet were worth $50,784,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Twelve Points Wealth Management LLC grew its position in Alphabet by 0.7% during the second quarter. Twelve Points Wealth Management LLC now owns 7,985 shares of the information services provider’s stock valued at $1,465,000 after acquiring an additional 55 shares during the last quarter. PCG Wealth Advisors LLC grew its holdings in shares of Alphabet by 3.1% during the 2nd quarter. PCG Wealth Advisors LLC now owns 1,880 shares of the information services provider’s stock valued at $345,000 after purchasing an additional 57 shares during the last quarter. Investment Advisory Services Inc. TX ADV raised its position in Alphabet by 1.6% in the 2nd quarter. Investment Advisory Services Inc. TX ADV now owns 3,636 shares of the information services provider’s stock worth $667,000 after purchasing an additional 57 shares during the period. Advisors Management Group Inc. ADV boosted its position in Alphabet by 2.0% during the second quarter. Advisors Management Group Inc. ADV now owns 2,944 shares of the information services provider’s stock valued at $540,000 after buying an additional 58 shares during the period. Finally, Mark Sheptoff Financial Planning LLC boosted its position in Alphabet by 11.1% during the first quarter. Mark Sheptoff Financial Planning LLC now owns 600 shares of the information services provider’s stock valued at $91,000 after buying an additional 60 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $168.00, for a total value of $114,576.00. Following the completion of the transaction, the chief accounting officer now owns 31,334 shares of the company’s stock, valued at $5,264,112. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total value of $114,576.00. Following the transaction, the chief accounting officer now directly owns 31,334 shares of the company’s stock, valued at approximately $5,264,112. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $167.07, for a total value of $3,759,075.00. Following the completion of the sale, the chief executive officer now directly owns 2,129,306 shares of the company’s stock, valued at approximately $355,743,153.42. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 216,092 shares of company stock worth $35,644,136. 12.99% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

GOOG has been the subject of several analyst reports. Pivotal Research began coverage on Alphabet in a report on Tuesday, October 1st. They set a “buy” rating and a $215.00 target price for the company. Scotiabank initiated coverage on shares of Alphabet in a report on Friday. They issued a “sector outperform” rating and a $212.00 target price on the stock. Rosenblatt Securities lowered shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target for the company. in a report on Friday, June 28th. DA Davidson raised shares of Alphabet to a “hold” rating in a report on Tuesday, September 10th. Finally, Cantor Fitzgerald raised shares of Alphabet to a “hold” rating in a research note on Thursday, September 5th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and a consensus target price of $186.90.

Alphabet Stock Up 0.8 %

GOOG stock opened at $164.52 on Friday. The business’s 50 day moving average price is $162.81 and its two-hundred day moving average price is $169.13. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. The company has a market capitalization of $2.03 trillion, a price-to-earnings ratio of 23.60, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04. Alphabet Inc. has a fifty-two week low of $121.46 and a fifty-two week high of $193.31.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The business had revenue of $84.74 billion for the quarter, compared to analyst estimates of $84.22 billion. During the same quarter in the previous year, the firm posted $1.44 earnings per share. Alphabet’s quarterly revenue was up 13.6% on a year-over-year basis. As a group, analysts forecast that Alphabet Inc. will post 7.64 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date of this dividend was Monday, September 9th. Alphabet’s dividend payout ratio (DPR) is presently 11.48%.

Alphabet Company 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.