Marcum Wealth LLC Grows Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Marcum Wealth LLC boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 8.0% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,059 shares of the information services provider’s stock after buying an additional 1,565 shares during the period. Marcum Wealth LLC’s holdings in Alphabet were worth $3,836,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in GOOGL. Vermillion & White Wealth Management Group LLC bought a new stake in Alphabet in the 4th quarter worth approximately $30,000. Tributary Capital Management LLC bought a new stake in shares of Alphabet in the first quarter worth $30,000. DiNuzzo Private Wealth Inc. purchased a new stake in Alphabet during the fourth quarter valued at $38,000. CarsonAllaria Wealth Management Ltd. lifted its holdings in Alphabet by 59.2% in the first quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock valued at $44,000 after acquiring an additional 109 shares during the period. Finally, Richardson Capital Management LLC boosted its position in Alphabet by 87.5% in the first quarter. Richardson Capital Management LLC now owns 300 shares of the information services provider’s stock worth $45,000 after purchasing an additional 140 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

GOOGL has been the subject of a number of analyst reports. Tigress Financial increased their price objective on shares of Alphabet from $176.00 to $210.00 and gave the stock a “strong-buy” rating in a research note on Friday, May 24th. Sanford C. Bernstein increased their price objective on shares of Alphabet from $165.00 to $180.00 and gave the stock a “market perform” rating in a research note on Friday, April 26th. BMO Capital Markets reissued an “outperform” rating and issued a $222.00 price objective on shares of Alphabet in a research note on Tuesday. KeyCorp increased their price objective on shares of Alphabet from $165.00 to $175.00 and gave the stock an “overweight” rating in a research note on Monday, April 22nd. Finally, TD Securities upped their target price on shares of Alphabet from $200.00 to $220.00 in a research report on Wednesday, July 10th. Six investment analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $203.74.

Alphabet Stock Up 1.8 %

Shares of NASDAQ:GOOGL opened at $161.17 on Wednesday. The firm’s 50 day moving average price is $177.75 and its 200 day moving average price is $161.77. The stock has a market cap of $1.98 trillion, a price-to-earnings ratio of 24.28, a price-to-earnings-growth ratio of 1.28 and a beta of 1.05. Alphabet Inc. has a fifty-two week low of $120.21 and a fifty-two week high of $191.75. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The company had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $70.60 billion. During the same quarter last year, the company earned $1.44 earnings per share. As a group, equities research analysts predict that Alphabet Inc. will post 7.62 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 9th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.50%. Alphabet’s payout ratio is currently 12.27%.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $173.22, for a total transaction of $3,897,450.00. Following the sale, the chief executive officer now owns 2,258,011 shares of the company’s stock, valued at $391,132,665.42. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $173.22, for a total value of $3,897,450.00. Following the transaction, the chief executive officer now directly owns 2,258,011 shares in the company, valued at approximately $391,132,665.42. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Prabhakar Raghavan sold 3,262 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $183.99, for a total transaction of $600,175.38. Following the sale, the senior vice president now owns 9 shares in the company, valued at $1,655.91. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 99,808 shares of company stock valued at $17,732,125. 11.55% of the stock is owned by corporate insiders.

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.