Marshall & Sullivan Inc. WA Decreases Stake in Alphabet Inc (NASDAQ:GOOG)

Marshall & Sullivan Inc. WA lowered its position in Alphabet Inc (NASDAQ:GOOG) by 2.6% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 374 shares of the information services provider’s stock after selling 10 shares during the period. Marshall & Sullivan Inc. WA’s holdings in Alphabet were worth $529,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Cox Capital Mgt LLC purchased a new position in Alphabet in the 1st quarter valued at $27,000. HighMark Wealth Management LLC purchased a new position in shares of Alphabet during the 4th quarter worth $44,000. Prestige Wealth Management Group LLC raised its holdings in shares of Alphabet by 1,700.0% during the 1st quarter. Prestige Wealth Management Group LLC now owns 36 shares of the information services provider’s stock worth $42,000 after acquiring an additional 34 shares during the period. Cordasco Financial Network raised its holdings in shares of Alphabet by 32.1% during the 1st quarter. Cordasco Financial Network now owns 37 shares of the information services provider’s stock worth $43,000 after acquiring an additional 9 shares during the period. Finally, New England Investment & Retirement Group Inc. purchased a new position in shares of Alphabet during the 1st quarter worth $44,000. Institutional investors own 32.91% of the company’s stock.

Shares of GOOG opened at $1,511.34 on Tuesday. The stock has a 50-day simple moving average of $1,440.77 and a 200-day simple moving average of $1,363.05. The company has a debt-to-equity ratio of 0.08, a quick ratio of 3.64 and a current ratio of 3.66. The stock has a market capitalization of $1,052.42 billion, a PE ratio of 30.50, a PEG ratio of 2.32 and a beta of 1.05. Alphabet Inc has a 1 year low of $1,013.54 and a 1 year high of $1,577.13.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Tuesday, April 28th. The information services provider reported $9.87 earnings per share for the quarter, missing the consensus estimate of $11.27 by ($1.40). The business had revenue of $41.16 billion for the quarter, compared to analysts’ expectations of $40.29 billion. Alphabet had a return on equity of 17.43% and a net margin of 20.71%. Alphabet’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $9.50 EPS. Analysts predict that Alphabet Inc will post 41.23 EPS for the current year.

In related news, Director Ann Mather sold 32 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $1,418.39, for a total transaction of $45,388.48. Following the completion of the sale, the director now owns 1,119 shares in the company, valued at $1,587,178.41. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director John L. Hennessy sold 60 shares of the business’s stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $1,495.85, for a total value of $89,751.00. Following the sale, the director now owns 664 shares of the company’s stock, valued at approximately $993,244.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 242 shares of company stock valued at $342,902. 12.99% of the stock is owned by company insiders.

GOOG has been the topic of several analyst reports. Jefferies Financial Group reiterated a “buy” rating on shares of Alphabet in a report on Tuesday, April 28th. Zacks Investment Research lowered Alphabet from a “hold” rating to a “sell” rating in a report on Wednesday, July 8th. UBS Group lifted their price target on Alphabet from $1,530.00 to $1,600.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Pivotal Research lifted their price target on Alphabet from $1,425.00 to $1,575.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Finally, BidaskClub upgraded Alphabet from a “hold” rating to a “buy” rating in a report on Thursday, June 25th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $1,580.52.

Alphabet Profile

Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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