Meadow Creek Wealth Advisors LLC Lowers Holdings in Alphabet Inc. $GOOG

Meadow Creek Wealth Advisors LLC decreased its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 13.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,809 shares of the information services provider’s stock after selling 765 shares during the quarter. Meadow Creek Wealth Advisors LLC’s holdings in Alphabet were worth $853,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. RDA Financial Network increased 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 purchasing an additional 554 shares in the last quarter. Oldfather Financial Services LLC bought a new stake in shares of Alphabet in the 2nd quarter worth $213,000. Tower View Wealth Management LLC increased its holdings in shares of Alphabet by 6.9% in the 2nd 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 in the last quarter. Dock Street Asset Management Inc. increased its holdings in shares of Alphabet by 0.8% in the 2nd 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 in the last quarter. Finally, Truist Financial Corp increased its holdings in shares of Alphabet by 0.4% in the 2nd quarter. Truist Financial Corp now owns 3,626,927 shares of the information services provider’s stock worth $643,381,000 after purchasing an additional 15,065 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director John L. Hennessy sold 600 shares of the business’s stock in a transaction dated Monday, October 13th. The stock was sold at an average price of $242.92, for a total transaction of $145,752.00. Following the completion of the sale, the director owned 5,116 shares of the company’s stock, valued at approximately $1,242,778.72. The trade was a 10.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $250.15, for a total value of $8,129,875.00. Following the sale, the chief executive officer directly owned 2,369,619 shares of the company’s stock, valued at $592,760,192.85. This represents a 1.35% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 246,150 shares of company stock valued at $55,805,379 in the last ninety days. 12.99% of the stock is currently owned by company insiders.

Alphabet Stock Performance

Shares of GOOG opened at $260.51 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. Alphabet Inc. has a one year low of $142.66 and a one year high of $262.51. The firm has a market capitalization of $3.15 trillion, a P/E ratio of 27.74, a PEG ratio of 1.71 and a beta of 1.00. The business has a fifty day moving average of $237.33 and a 200 day moving average of $196.32.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping the consensus estimate of $2.12 by $0.19. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The company had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.67 billion. During the same quarter in the previous year, the company posted $1.89 earnings per share. Alphabet’s revenue was up 13.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. TD Cowen lifted their target price on Alphabet from $270.00 to $280.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. KeyCorp set a $265.00 target price on Alphabet in a report on Wednesday, September 3rd. Jefferies Financial Group lifted their target price on Alphabet from $230.00 to $285.00 and gave the stock a “buy” rating in a report on Thursday, October 2nd. Lake Street Capital reissued a “buy” rating on shares of Alphabet in a report on Wednesday, July 9th. Finally, Mizuho raised Alphabet to a “strong-buy” rating in a report on Monday, September 29th. Six research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and an average price target of $249.68.

Alphabet Company 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.