Alphabet Inc. $GOOGL Shares Sold by Marks Group Wealth Management Inc

Marks Group Wealth Management Inc reduced its position in Alphabet Inc. (NASDAQ:GOOGL) by 6.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,675 shares of the information services provider’s stock after selling 408 shares during the period. Marks Group Wealth Management Inc’s holdings in Alphabet were worth $1,000,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Missouri Trust & Investment Co lifted its stake in shares of Alphabet by 0.3% during the second quarter. Missouri Trust & Investment Co now owns 16,916 shares of the information services provider’s stock worth $2,981,000 after purchasing an additional 55 shares in the last quarter. AM Investment Strategies LLC lifted its position in Alphabet by 0.9% during the 2nd quarter. AM Investment Strategies LLC now owns 6,477 shares of the information services provider’s stock worth $1,141,000 after acquiring an additional 57 shares in the last quarter. Bfsg LLC lifted its position in Alphabet by 0.6% during the 2nd quarter. Bfsg LLC now owns 10,428 shares of the information services provider’s stock worth $1,838,000 after acquiring an additional 59 shares in the last quarter. Financial Council LLC lifted its position in shares of Alphabet by 1.0% during the second quarter. Financial Council LLC now owns 5,800 shares of the information services provider’s stock worth $1,022,000 after purchasing an additional 60 shares in the last quarter. Finally, Enzi Wealth lifted its position in shares of Alphabet by 2.5% during the first quarter. Enzi Wealth now owns 2,561 shares of the information services provider’s stock worth $408,000 after purchasing an additional 62 shares in the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Alphabet

In related news, Director John L. Hennessy sold 600 shares of the stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $249.44, for a total value of $149,664.00. Following the sale, the director owned 5,716 shares of the company’s stock, valued at $1,425,799.04. This trade represents a 9.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 953 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $241.20, for a total transaction of $229,863.60. Following the completion of the sale, the chief accounting officer owned 17,294 shares in the company, valued at $4,171,312.80. The trade was a 5.22% decrease in their position. The disclosure for this sale can be found here. Insiders sold 276,338 shares of company stock valued at $59,062,683 over the last three months. 11.55% of the stock is currently owned by company insiders.

Alphabet Price Performance

GOOGL opened at $244.15 on Tuesday. The firm has a market cap of $2.95 trillion, a price-to-earnings ratio of 26.00, a price-to-earnings-growth ratio of 1.60 and a beta of 1.00. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $256.00. The company’s 50-day moving average price is $227.30 and its 200 day moving average price is $189.47. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $2.15 by $0.16. The business had revenue of $96.43 billion for the quarter, compared to analysts’ expectations of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. As a group, sell-side analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were given a $0.21 dividend. The ex-dividend date of this dividend was Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is currently 8.95%.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. KeyCorp boosted their price objective on shares of Alphabet from $230.00 to $265.00 and gave the stock an “overweight” rating in a report on Wednesday, September 3rd. Sanford C. Bernstein boosted their price objective on shares of Alphabet from $185.00 to $195.00 and gave the stock a “market perform” rating in a report on Tuesday, July 22nd. Needham & Company LLC boosted their price target on Alphabet from $220.00 to $260.00 and gave the stock a “buy” rating in a research note on Wednesday, September 3rd. BNP Paribas cut shares of Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, June 26th. Finally, Tigress Financial upped their price target on shares of Alphabet from $240.00 to $280.00 and gave the company a “strong-buy” rating in a report on Friday, September 5th. Four research analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $247.40.

About Alphabet

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.