Marcum Wealth LLC Sells 380 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Marcum Wealth LLC decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,333 shares of the information services provider’s stock after selling 380 shares during the period. Marcum Wealth LLC’s holdings in Alphabet were worth $3,299,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Norges Bank bought a new position in shares of Alphabet in the 4th quarter worth approximately $24,383,677,000. FMR LLC grew its stake in Alphabet by 9.8% in the fourth quarter. FMR LLC now owns 248,416,916 shares of the information services provider’s stock worth $47,025,322,000 after purchasing an additional 22,100,902 shares during the period. Northern Trust Corp raised its holdings in Alphabet by 17.0% in the fourth quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider’s stock worth $13,178,470,000 after purchasing an additional 10,135,430 shares in the last quarter. Capital Research Global Investors lifted its position in Alphabet by 16.2% during the fourth quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider’s stock valued at $13,635,878,000 after buying an additional 10,037,685 shares during the period. Finally, Wellington Management Group LLP boosted its holdings in shares of Alphabet by 15.9% during the 4th quarter. Wellington Management Group LLP now owns 66,050,135 shares of the information services provider’s stock valued at $12,503,291,000 after buying an additional 9,042,271 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analyst Ratings Changes

GOOGL has been the subject of several recent research reports. Roth Mkm reiterated a “buy” rating and set a $220.00 target price on shares of Alphabet in a report on Wednesday, March 19th. Wells Fargo & Company boosted their target price on Alphabet from $167.00 to $175.00 and gave the stock an “equal weight” rating in a report on Friday, April 25th. Morgan Stanley cut their target price on Alphabet from $210.00 to $185.00 and set an “overweight” rating on the stock in a research note on Thursday, April 17th. Tigress Financial lifted their price target on Alphabet from $220.00 to $240.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, April 30th. Finally, KeyCorp increased their price objective on shares of Alphabet from $185.00 to $195.00 and gave the company an “overweight” rating in a research report on Friday, April 25th. Ten analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $199.75.

Alphabet Stock Down 0.3%

Shares of GOOGL stock opened at $172.36 on Thursday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. Alphabet Inc. has a one year low of $140.53 and a one year high of $207.05. The company’s fifty day moving average price is $159.04 and its 200-day moving average price is $174.73. The company has a market capitalization of $2.09 trillion, a price-to-earnings ratio of 21.41, a PEG ratio of 1.34 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.79. The business had revenue of $76.49 billion during the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. During the same quarter in the prior year, the business posted $1.89 EPS. Sell-side analysts expect that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.49%. The ex-dividend date is Monday, June 9th. This is an increase from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s dividend payout ratio (DPR) is 9.36%.

Insider Buying and Selling

In other Alphabet news, Director John L. Hennessy sold 600 shares of Alphabet stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $105,000.00. Following the sale, the director now owns 6,813 shares of the company’s stock, valued at $1,192,275. The trade was a 8.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $1,837,500.00. Following the transaction, the director now owns 261,966 shares of the company’s stock, valued at $45,844,050. This represents a 3.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 164,654 shares of company stock valued at $26,793,380. Corporate insiders own 11.55% 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.