Meixler Investment Management Ltd. Sells 942 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Meixler Investment Management Ltd. cut its stake in Alphabet Inc. (NASDAQ:GOOGL) by 23.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,017 shares of the information services provider’s stock after selling 942 shares during the quarter. Meixler Investment Management Ltd.’s holdings in Alphabet were worth $500,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of GOOGL. Christopher J. Hasenberg Inc increased its position in Alphabet by 75.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after buying an additional 60 shares during the period. Kings Path Partners LLC bought a new position in Alphabet during the second quarter worth about $36,000. Denver PWM LLC acquired a new stake in Alphabet in the 2nd quarter worth about $41,000. Quarry LP bought a new stake in Alphabet in the 2nd quarter valued at about $53,000. Finally, Summit Securities Group LLC acquired a new position in shares of Alphabet during the 2nd quarter worth approximately $55,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total value of $109,420.08. Following the transaction, the chief accounting officer now owns 32,017 shares in the company, valued at $5,136,807.48. This trade represents a 2.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total value of $1,898,190.00. Following the completion of the sale, the director now directly owns 330,466 shares of the company’s stock, valued at $59,741,643.48. The trade was a 3.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 206,795 shares of company stock worth $34,673,866. 11.55% of the stock is owned by corporate insiders.

Alphabet Stock Up 1.8 %

Alphabet stock opened at $167.65 on Tuesday. Alphabet Inc. has a 12-month low of $127.90 and a 12-month high of $191.75. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $2.05 trillion, a PE ratio of 22.23, a PEG ratio of 1.17 and a beta of 1.03. The firm’s fifty day moving average is $167.83 and its 200 day moving average is $170.34.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating the consensus estimate of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The company had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $72.85 billion. During the same period last year, the business posted $1.55 EPS. As a group, sell-side analysts predict that Alphabet Inc. will post 8.01 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s payout ratio is currently 10.61%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on GOOGL shares. Piper Sandler reiterated an “overweight” rating and issued a $210.00 price target (up from $200.00) on shares of Alphabet in a research report on Wednesday, October 30th. Wedbush reaffirmed an “outperform” rating and issued a $205.00 price objective on shares of Alphabet in a report on Thursday, October 24th. BMO Capital Markets reissued an “outperform” rating and set a $217.00 target price (up from $215.00) on shares of Alphabet in a report on Wednesday, October 30th. Cantor Fitzgerald restated a “neutral” rating and issued a $190.00 price target on shares of Alphabet in a research report on Wednesday, October 30th. Finally, Truist Financial upped their price objective on shares of Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Seven investment analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and an average target price of $205.90.

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.