Meeder Asset Management Inc. reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 7.7% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 21,751 shares of the company’s stock after selling 1,825 shares during the period. Alphabet accounts for 1.4% of Meeder Asset Management Inc.’s portfolio, making the stock its 8th largest position. Meeder Asset Management Inc.’s holdings in Alphabet were worth $15,303,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. United Bank Inc. raised its position in Alphabet by 15.2% in the second quarter. United Bank Inc. now owns 500 shares of the company’s stock valued at $352,000 after buying an additional 66 shares in the last quarter. Independence Advisors LLC bought a new position in Alphabet during the second quarter valued at about $433,000. Parkwood LLC raised its position in Alphabet by 35.3% in the second quarter. Parkwood LLC now owns 10,796 shares of the company’s stock valued at $7,595,000 after buying an additional 2,815 shares in the last quarter. Northwest Investment Counselors LLC raised its position in Alphabet by 1.7% in the second quarter. Northwest Investment Counselors LLC now owns 1,460 shares of the company’s stock valued at $1,027,000 after buying an additional 25 shares in the last quarter. Finally, Highstreet Asset Management Inc. raised its position in Alphabet by 49.5% in the second quarter. Highstreet Asset Management Inc. now owns 3,260 shares of the company’s stock valued at $2,294,000 after buying an additional 1,080 shares in the last quarter. 34.15% of the stock is owned by institutional investors.
Shares of Alphabet Inc. (NASDAQ:GOOGL) traded up 0.28% during trading on Monday, reaching $806.84. 1,056,367 shares of the company traded hands. The firm’s 50 day moving average is $802.03 and its 200-day moving average is $761.84. Alphabet Inc. has a 12-month low of $670.70 and a 12-month high of $819.86. The stock has a market capitalization of $554.52 billion, a P/E ratio of 31.26 and a beta of 1.00.
Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Thursday, July 28th. The company reported $8.42 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $8.04 by $0.38. Alphabet had a net margin of 22.00% and a return on equity of 14.74%. On average, equities research analysts anticipate that Alphabet Inc. will post $34.11 earnings per share for the current fiscal year.
GOOGL has been the topic of several recent analyst reports. Mizuho reiterated a “buy” rating and set a $1,020.00 target price (up from $1,010.00) on shares of Alphabet in a report on Sunday, July 31st. Bank of America Corp. reiterated a “buy” rating and set a $960.00 target price on shares of Alphabet in a report on Monday, September 26th. Macquarie reiterated an “outperform” rating on shares of Alphabet in a report on Tuesday, July 19th. Evercore ISI reiterated a “buy” rating and set a $830.00 target price on shares of Alphabet in a report on Tuesday, July 26th. Finally, JMP Securities lifted their target price on Alphabet from $904.00 to $928.00 and gave the stock a “market outperform” rating in a report on Friday, July 29th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, forty-seven have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $929.27.
Alphabet Inc is a holding company. The Company holds interests in Google Inc (Google). The Company’s segments include Google and Other Bets. Google segment includes Internet products, such as Search, Ads, Commerce, Maps, YouTube, Apps, Cloud, Android, Chrome, Google Play, and hardware products, including Chromecast, Chromebooks and Nexus, which are sold by the Company.