Meeder Asset Management Inc. Sells 7,709 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Meeder Asset Management Inc. reduced its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 27.0% in the second quarter, HoldingsChannel reports. The firm owned 20,817 shares of the information services provider’s stock after selling 7,709 shares during the quarter. Meeder Asset Management Inc.’s holdings in Alphabet were worth $3,792,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of GOOGL. Ullmann Wealth Partners Group LLC lifted its position in shares of Alphabet by 18.7% in the second quarter. Ullmann Wealth Partners Group LLC now owns 8,571 shares of the information services provider’s stock valued at $1,561,000 after acquiring an additional 1,353 shares in the last quarter. Oppenheimer & Co. Inc. lifted its position in Alphabet by 4.3% in the second quarter. Oppenheimer & Co. Inc. now owns 470,556 shares of the information services provider’s stock worth $85,712,000 after buying an additional 19,283 shares during the last quarter. Financial Alternatives Inc raised its position in Alphabet by 11.6% in the 2nd quarter. Financial Alternatives Inc now owns 1,507 shares of the information services provider’s stock worth $275,000 after purchasing an additional 157 shares during the period. D Orazio & Associates Inc. boosted its holdings in Alphabet by 7.3% during the 2nd quarter. D Orazio & Associates Inc. now owns 12,356 shares of the information services provider’s stock valued at $2,251,000 after acquiring an additional 837 shares during the period. Finally, Gruss & Co. LLC grew its holdings in shares of Alphabet by 266.7% in the second quarter. Gruss & Co. LLC now owns 5,500 shares of the information services provider’s stock worth $1,002,000 after purchasing an additional 4,000 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Stock Performance

NASDAQ GOOGL opened at $162.73 on Friday. The stock has a fifty day simple moving average of $163.41 and a 200-day simple moving average of $166.14. The stock has a market cap of $2.01 trillion, a PE ratio of 24.96, a P/E/G ratio of 1.21 and a beta of 1.04. Alphabet Inc. has a twelve month low of $120.21 and a twelve month high of $191.75. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. The company had revenue of $84.74 billion for the quarter, compared to analyst estimates of $70.60 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same period in the prior year, the firm earned $1.44 earnings per share. Equities analysts anticipate that Alphabet Inc. will post 7.63 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were issued 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 was Monday, September 9th. Alphabet’s dividend payout ratio (DPR) is 12.27%.

Insiders Place Their Bets

In other news, SVP Prabhakar Raghavan sold 34,257 shares of Alphabet stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $162.60, for a total value of $5,570,188.20. Following the transaction, the senior vice president now directly owns 312,210 shares of the company’s stock, valued at approximately $50,765,346. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Alphabet news, insider John Kent Walker sold 21,467 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $160.35, for a total value of $3,442,233.45. Following the completion of the transaction, the insider now owns 39,334 shares in the company, valued at $6,307,206.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Prabhakar Raghavan sold 34,257 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the completion of the transaction, the senior vice president now directly owns 312,210 shares of the company’s stock, valued at $50,765,346. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 180,867 shares of company stock valued at $29,878,106. 11.55% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Truist Financial restated a “buy” rating and set a $196.00 price target on shares of Alphabet in a research note on Monday, September 16th. Cantor Fitzgerald reiterated a “neutral” rating and set a $190.00 price objective on shares of Alphabet in a research note on Monday. Wolfe Research started coverage on shares of Alphabet in a research report on Tuesday, July 16th. They set an “outperform” rating and a $240.00 price target for the company. TD Securities raised their target price on Alphabet from $200.00 to $220.00 in a report on Wednesday, July 10th. Finally, Argus raised their target price on Alphabet from $200.00 to $215.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Eight analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and a consensus price target of $201.35.

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.