Meeder Advisory Services Inc. Has $15.94 Million Position in Alphabet Inc. (NASDAQ:GOOG)

Meeder Advisory Services Inc. reduced its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 95,325 shares of the information services provider’s stock after selling 651 shares during the period. Alphabet makes up about 1.0% of Meeder Advisory Services Inc.’s portfolio, making the stock its 19th biggest holding. Meeder Advisory Services Inc.’s holdings in Alphabet were worth $15,937,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in GOOG. China Universal Asset Management Co. Ltd. raised its holdings in shares of Alphabet by 360.1% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 20,249 shares of the information services provider’s stock worth $3,083,000 after buying an additional 15,848 shares in the last quarter. Quent Capital LLC raised its holdings in shares of Alphabet by 5.8% during the 1st quarter. Quent Capital LLC now owns 32,706 shares of the information services provider’s stock worth $4,980,000 after buying an additional 1,798 shares in the last quarter. Empowered Funds LLC raised its holdings in Alphabet by 19.0% during the 1st quarter. Empowered Funds LLC now owns 86,040 shares of the information services provider’s stock worth $13,100,000 after purchasing an additional 13,756 shares during the last quarter. Hillsdale Investment Management Inc. lifted its position in shares of Alphabet by 50.0% in the 1st quarter. Hillsdale Investment Management Inc. now owns 330 shares of the information services provider’s stock worth $50,000 after purchasing an additional 110 shares during the period. Finally, Rockport Wealth LLC acquired a new stake in shares of Alphabet during the first quarter worth $284,000. 27.26% of the stock is owned by institutional investors and hedge funds.

Alphabet Stock Up 0.7 %

GOOG opened at $175.05 on Monday. The company has a 50 day moving average of $167.01 and a 200 day moving average of $171.74. The company has a market cap of $2.14 trillion, a PE ratio of 23.06, a price-to-earnings-growth ratio of 1.22 and a beta of 1.04. Alphabet Inc. has a 12 month low of $129.40 and a 12 month high of $193.31. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The company had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $86.39 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The firm’s revenue was up 15.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.55 EPS. On average, sell-side analysts expect that Alphabet Inc. will post 7.99 EPS for the current year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date is Monday, December 9th. Alphabet’s payout ratio is 10.61%.

Insider Buying and Selling at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $167.66, for a total value of $3,772,350.00. Following the transaction, the chief executive officer now owns 2,159,885 shares in the company, valued at approximately $362,126,319.10. This represents a 1.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider John Kent Walker sold 21,467 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $160.35, for a total transaction of $3,442,233.45. Following the completion of the transaction, the insider now owns 39,334 shares in the company, valued at approximately $6,307,206.90. This represents a 35.31 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 206,795 shares of company stock worth $34,471,141. 12.99% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on GOOG shares. Scotiabank started coverage on shares of Alphabet in a report on Friday, October 11th. They issued a “sector outperform” rating and a $212.00 target price on the stock. UBS Group boosted their price objective on Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Canaccord Genuity Group increased 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. JPMorgan Chase & Co. increased their price objective on shares of Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Finally, Phillip Securities raised shares of Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. Five equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $200.56.

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.