Meeder Asset Management Inc. Has $43.85 Million Stake in Alphabet Inc. (NASDAQ:GOOG)

Meeder Asset Management Inc. cut its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 4.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 230,275 shares of the information services provider’s stock after selling 10,675 shares during the quarter. Alphabet accounts for about 3.0% of Meeder Asset Management Inc.’s portfolio, making the stock its 8th largest position. Meeder Asset Management Inc.’s holdings in Alphabet were worth $43,854,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in GOOG. Weiss Asset Management LP bought a new position in Alphabet in the 3rd quarter valued at approximately $25,000. Fiduciary Advisors Inc. bought a new position in shares of Alphabet during the fourth quarter valued at $27,000. Safe Harbor Fiduciary LLC acquired a new position in shares of Alphabet during the third quarter worth $33,000. WealthTrak Capital Management LLC bought a new stake in shares of Alphabet in the fourth quarter worth $38,000. Finally, Mountain Hill Investment Partners Corp. acquired a new stake in Alphabet in the fourth quarter valued at $39,000. Institutional investors own 27.26% of the company’s stock.

Alphabet Trading Down 4.9 %

NASDAQ GOOG opened at $156.06 on Monday. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 52 week low of $148.20 and a 52 week high of $208.70. The business has a 50 day moving average price of $181.53 and a 200-day moving average price of $178.69. The company has a market cap of $1.90 trillion, a price-to-earnings ratio of 19.39, a P/E/G ratio of 1.34 and a beta of 1.03.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. As a group, equities analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were given a $0.20 dividend. The ex-dividend date was Monday, March 10th. This represents a $0.80 annualized dividend and a yield of 0.51%. Alphabet’s payout ratio is 9.94%.

Wall Street Analyst Weigh In

GOOG has been the topic of a number of analyst reports. Benchmark reiterated a “negative” rating on shares of Alphabet in a research report on Wednesday, February 5th. Needham & Company LLC reiterated a “buy” rating on shares of Alphabet in a report on Wednesday, February 5th. Scotiabank raised their price target on shares of Alphabet from $212.00 to $240.00 and gave the stock a “sector outperform” rating in a report on Friday, January 24th. Oppenheimer boosted their price target on shares of Alphabet from $215.00 to $225.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $200.00 price objective on shares of Alphabet in a research report on Wednesday, March 19th. One analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $208.56.

Insider Buying and Selling at Alphabet

In other news, Director John L. Hennessy sold 200 shares of the company’s stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $165.53, for a total value of $33,106.00. Following the completion of the sale, the director now owns 7,813 shares in the company, valued at $1,293,285.89. This represents a 2.50 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider John Kent Walker sold 11,764 shares of the firm’s stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $166.84, for a total transaction of $1,962,705.76. Following the transaction, the insider now directly owns 49,037 shares in the company, valued at $8,181,333.08. The trade was a 19.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 87,992 shares of company stock worth $16,097,111. 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.