Meixler Investment Management Ltd. Sells 189 Shares of Alphabet Inc. $GOOG

Meixler Investment Management Ltd. reduced its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 11.2% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 1,506 shares of the information services provider’s stock after selling 189 shares during the quarter. Meixler Investment Management Ltd.’s holdings in Alphabet were worth $267,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. RDA Financial Network boosted its holdings in shares of Alphabet by 5.3% in the 2nd quarter. RDA Financial Network now owns 11,094 shares of the information services provider’s stock worth $1,968,000 after buying an additional 554 shares during the last quarter. Bleakley Financial Group LLC boosted its position in Alphabet by 1.4% during the second quarter. Bleakley Financial Group LLC now owns 170,020 shares of the information services provider’s stock worth $30,160,000 after purchasing an additional 2,304 shares during the period. Oldfather Financial Services LLC bought a new position in Alphabet during the second quarter worth about $213,000. Tower View Wealth Management LLC boosted its position in Alphabet by 6.9% during the second quarter. Tower View Wealth Management LLC now owns 27,644 shares of the information services provider’s stock worth $4,904,000 after purchasing an additional 1,776 shares during the period. Finally, Dock Street Asset Management Inc. boosted its position in Alphabet by 0.8% during the second quarter. Dock Street Asset Management Inc. now owns 234,306 shares of the information services provider’s stock worth $41,563,000 after purchasing an additional 1,970 shares during the period. 27.26% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

GOOG has been the subject of a number of research reports. Phillip Securities lowered shares of Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research report on Monday, September 8th. Wolfe Research increased their target price on shares of Alphabet from $290.00 to $350.00 and gave the stock an “outperform” rating in a research report on Thursday, October 30th. HSBC reiterated a “buy” rating and set a $335.00 target price on shares of Alphabet in a research report on Thursday. Piper Sandler increased their target price on shares of Alphabet from $285.00 to $330.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. Finally, Morgan Stanley increased their target price on shares of Alphabet from $210.00 to $270.00 and gave the stock an “overweight” rating in a research report on Thursday, October 2nd. Five research analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, four have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $324.81.

Alphabet Trading Up 0.8%

Shares of Alphabet stock opened at $284.12 on Tuesday. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $291.93. The company has a market cap of $3.44 trillion, a price-to-earnings ratio of 28.02, a PEG ratio of 1.86 and a beta of 1.00. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The company’s 50-day moving average price is $246.09 and its 200-day moving average price is $202.22.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The firm had revenue of $102.35 billion for the quarter, compared to the consensus estimate of $99.90 billion. During the same period in the prior year, the firm posted $2.12 earnings per share. The company’s revenue for the quarter was up 15.9% on a year-over-year basis. On average, equities analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director John L. Hennessy sold 600 shares of the firm’s stock in a transaction that occurred on Monday, October 13th. The shares were sold at an average price of $242.92, for a total value of $145,752.00. Following the sale, the director directly owned 5,116 shares of the company’s stock, valued at $1,242,778.72. This trade represents a 10.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 2,778 shares of the firm’s stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $250.05, for a total transaction of $694,638.90. Following the completion of the sale, the chief accounting officer directly owned 14,516 shares in the company, valued at $3,629,725.80. This represents a 16.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 222,442 shares of company stock valued at $51,200,307 over the last three months. Corporate insiders own 12.99% of the company’s stock.

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.