Meeder Asset Management Inc. Has $40.28 Million Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Meeder Asset Management Inc. lessened its stake in Alphabet Inc. (NASDAQ:GOOG) by 30.7% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 240,950 shares of the information services provider’s stock after selling 106,885 shares during the period. Alphabet accounts for 2.7% of Meeder Asset Management Inc.’s portfolio, making the stock its 9th biggest holding. Meeder Asset Management Inc.’s holdings in Alphabet were worth $40,284,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Tranquility Partners LLC grew its position in Alphabet by 1.1% in the 3rd quarter. Tranquility Partners LLC now owns 14,426 shares of the information services provider’s stock valued at $2,412,000 after buying an additional 151 shares in the last quarter. Whalen Wealth Management Inc. grew its position in Alphabet by 14.1% in the 3rd quarter. Whalen Wealth Management Inc. now owns 10,919 shares of the information services provider’s stock valued at $1,825,000 after buying an additional 1,347 shares in the last quarter. Belmont Capital LLC grew its position in Alphabet by 0.7% in the 3rd quarter. Belmont Capital LLC now owns 15,181 shares of the information services provider’s stock valued at $2,538,000 after buying an additional 111 shares in the last quarter. Aviance Capital Partners LLC lifted its holdings in Alphabet by 1.0% in the 3rd quarter. Aviance Capital Partners LLC now owns 16,356 shares of the information services provider’s stock valued at $2,735,000 after acquiring an additional 163 shares during the last quarter. Finally, Windle Wealth LLC lifted its holdings in Alphabet by 8.6% in the 3rd quarter. Windle Wealth LLC now owns 25,747 shares of the information services provider’s stock valued at $4,305,000 after acquiring an additional 2,030 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Insider Buying and Selling

In related news, insider John Kent Walker sold 21,467 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $160.35, for a total value of $3,442,233.45. Following 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $180.78, for a total value of $1,898,190.00. Following the completion of the transaction, the director now owns 330,466 shares in the company, valued at $59,741,643.48. This represents a 3.08 % 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. Insiders own 12.99% of the company’s stock.

Alphabet Price Performance

NASDAQ GOOG opened at $176.80 on Tuesday. The company has a 50 day simple moving average of $167.56 and a 200-day simple moving average of $171.80. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The firm has a market capitalization of $2.16 trillion, a price-to-earnings ratio of 23.45, a price-to-earnings-growth ratio of 1.22 and a beta of 1.04. Alphabet Inc. has a 52-week low of $129.40 and a 52-week high of $193.31.

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

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.45%. Alphabet’s dividend payout ratio is currently 10.61%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Canaccord Genuity Group upped their price target on shares of Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Cantor Fitzgerald raised shares of Alphabet to a “hold” rating in a report on Thursday, September 5th. Phillip Securities raised shares of Alphabet to a “strong-buy” rating in a report on Friday, November 1st. Jefferies Financial Group upped their price objective on shares of Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, DA Davidson raised shares of Alphabet to a “hold” rating in a research note on Tuesday, September 10th. Five research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus target price of $200.56.

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.