Meridian Wealth Management LLC Decreases Stake in Alphabet Inc (GOOGL)
Meridian Wealth Management LLC lessened its stake in Alphabet Inc (NASDAQ:GOOGL) by 11.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 999 shares of the information services provider’s stock after selling 134 shares during the quarter. Meridian Wealth Management LLC’s holdings in Alphabet were worth $972,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Beaumont Financial Partners LLC boosted its holdings in shares of Alphabet by 1.8% in the 3rd quarter. Beaumont Financial Partners LLC now owns 13,085 shares of the information services provider’s stock valued at $12,741,000 after buying an additional 232 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its holdings in Alphabet by 1.2% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 428,260 shares of the information services provider’s stock valued at $417,005,000 after purchasing an additional 4,891 shares during the last quarter. Whalerock Point Partners LLC lifted its holdings in Alphabet by 2.9% during the 3rd quarter. Whalerock Point Partners LLC now owns 2,555 shares of the information services provider’s stock valued at $2,488,000 after purchasing an additional 73 shares during the last quarter. Rothschild Capital Partners LLC acquired a new stake in Alphabet during the 3rd quarter valued at $13,030,000. Finally, Morse Asset Management Inc lifted its holdings in Alphabet by 0.8% during the 3rd quarter. Morse Asset Management Inc now owns 7,761 shares of the information services provider’s stock valued at $7,557,000 after purchasing an additional 61 shares during the last quarter. 33.55% of the stock is owned by institutional investors.
Alphabet Inc (NASDAQ GOOGL) opened at $1,112.79 on Wednesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.77 and a quick ratio of 5.73. Alphabet Inc has a 12-month low of $812.05 and a 12-month high of $1,119.16. The company has a market capitalization of $770,630.00, a price-to-earnings ratio of 37.07, a P/E/G ratio of 1.45 and a beta of 0.90.
Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Thursday, October 26th. The information services provider reported $9.57 EPS for the quarter, topping the Zacks’ consensus estimate of $8.43 by $1.14. Alphabet had a return on equity of 14.26% and a net margin of 20.09%. The company had revenue of $22.27 billion for the quarter, compared to analysts’ expectations of $21.94 billion. During the same quarter last year, the business earned $9.06 earnings per share. analysts expect that Alphabet Inc will post 32.34 EPS for the current fiscal year.
Several equities research analysts have issued reports on the company. Vetr raised Alphabet from a “hold” rating to a “buy” rating and set a $1,179.78 price target for the company in a report on Monday. Robert W. Baird reaffirmed a “buy” rating and set a $1,150.00 price target on shares of Alphabet in a report on Tuesday, January 2nd. Zacks Investment Research downgraded Alphabet from a “buy” rating to a “hold” rating in a report on Monday. Cowen raised their price target on Alphabet from $1,150.00 to $1,230.00 and gave the company an “outperform” rating in a report on Thursday, January 4th. Finally, Bank of America reaffirmed a “buy” rating and set a $1,100.00 price target on shares of Alphabet in a report on Tuesday, September 26th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, forty-one have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $1,098.50.
Alphabet Company Profile
Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.
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