MRA Advisory Group Increases Stake in Alphabet Inc. (NASDAQ:GOOG)

MRA Advisory Group increased its holdings in Alphabet Inc. (NASDAQ:GOOG) by 45.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,700 shares of the information services provider’s stock after purchasing an additional 4,283 shares during the quarter. Alphabet accounts for 1.2% of MRA Advisory Group’s investment portfolio, making the stock its 19th biggest position. MRA Advisory Group’s holdings in Alphabet were worth $2,086,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Partnership Wealth Management LLC bought a new stake in shares of Alphabet in the fourth quarter worth about $26,000. Bruce G. Allen Investments LLC purchased a new stake in Alphabet in the 4th quarter worth approximately $26,000. Equitec Proprietary Markets LLC bought a new stake in shares of Alphabet in the 4th quarter worth approximately $28,000. DiNuzzo Private Wealth Inc. purchased a new position in shares of Alphabet during the fourth quarter valued at approximately $32,000. Finally, Richardson Financial Services Inc. bought a new position in shares of Alphabet during the fourth quarter valued at approximately $34,000. 27.26% of the stock is owned by institutional investors.

Alphabet Stock Up 1.2 %

NASDAQ:GOOG traded up $2.22 on Wednesday, reaching $192.66. 11,625,548 shares of the stock traded hands, compared to its average volume of 20,785,617. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $2.38 trillion, a price-to-earnings ratio of 29.59, a PEG ratio of 1.43 and a beta of 1.05. Alphabet Inc. has a 12 month low of $115.83 and a 12 month high of $193.31. The company’s fifty day simple moving average is $177.92 and its 200 day simple moving average is $158.32.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.51 by $0.38. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The company had revenue of $80.54 billion during the quarter, compared to analyst estimates of $78.75 billion. During the same period in the previous year, the business earned $1.17 EPS. The firm’s revenue for the quarter was up 15.4% on a year-over-year basis. Equities analysts predict that Alphabet Inc. will post 7.6 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently announced a — dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 10th were paid a dividend of $0.20 per share. The ex-dividend date was Monday, June 10th. Alphabet’s dividend payout ratio is currently 12.27%.

Insider Activity

In related news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $166.67, for a total value of $113,668.94. Following the sale, the chief accounting officer now owns 29,284 shares in the company, valued at $4,880,764.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $157.41, for a total transaction of $3,541,725.00. Following the transaction, the chief executive officer now directly owns 2,303,011 shares in the company, valued at $362,516,961.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $166.67, for a total value of $113,668.94. Following the completion of the transaction, the chief accounting officer now directly owns 29,284 shares in the company, valued at approximately $4,880,764.28. The disclosure for this sale can be found here. Insiders have sold a total of 146,288 shares of company stock valued at $25,345,053 in the last 90 days. 12.99% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

GOOG has been the topic of a number of research analyst reports. Morgan Stanley reissued an “overweight” rating and set a $165.00 price objective on shares of Alphabet in a research report on Thursday, April 11th. Oppenheimer increased their price target on shares of Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research note on Monday, April 8th. Stifel Nicolaus lifted their price objective on Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. TD Cowen increased their target price on Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Rosenblatt Securities cut Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price for the company. in a research note on Friday, June 28th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $174.38.

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.