Marcum Wealth LLC Reduces Position in Alphabet Inc. (NASDAQ:GOOGL)

Marcum Wealth LLC cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,494 shares of the information services provider’s stock after selling 438 shares during the quarter. Marcum Wealth LLC’s holdings in Alphabet were worth $2,942,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Alphabet by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 493,810,251 shares of the information services provider’s stock valued at $68,980,354,000 after buying an additional 6,374,756 shares during the period. FMR LLC increased its position in shares of Alphabet by 5.6% during the third quarter. FMR LLC now owns 227,317,469 shares of the information services provider’s stock valued at $29,746,764,000 after buying an additional 12,070,681 shares during the period. Norges Bank bought a new stake in shares of Alphabet during the fourth quarter valued at about $15,441,917,000. Northern Trust Corp increased its position in shares of Alphabet by 3.7% in the third quarter. Northern Trust Corp now owns 67,684,197 shares of the information services provider’s stock worth $8,857,154,000 after purchasing an additional 2,416,328 shares during the last quarter. Finally, Fisher Asset Management LLC increased its position in shares of Alphabet by 3.4% in the fourth quarter. Fisher Asset Management LLC now owns 45,220,857 shares of the information services provider’s stock worth $6,316,902,000 after purchasing an additional 1,472,043 shares during the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Price Performance

NASDAQ GOOGL opened at $179.63 on Friday. Alphabet Inc. has a one year low of $115.35 and a one year high of $180.85. The stock has a 50-day moving average of $170.05 and a 200 day moving average of $152.41. The company has a market capitalization of $2.22 trillion, a price-to-earnings ratio of 27.55, a PEG ratio of 1.32 and a beta of 1.01. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.40. The business had revenue of $80.54 billion for the quarter, compared to analysts’ expectations of $66.04 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. During the same period last year, the firm posted $1.17 earnings per share. On average, sell-side analysts forecast that Alphabet Inc. will post 7.6 EPS for the current year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 10th were given a $0.20 dividend. The ex-dividend date was Monday, June 10th. This represents a $0.80 annualized dividend and a yield of 0.45%. Alphabet’s payout ratio is 12.27%.

Insiders Place Their Bets

In other news, insider John Kent Walker sold 12,084 shares of Alphabet stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $151.19, for a total transaction of $1,826,979.96. Following the transaction, the insider now directly owns 48,717 shares of the company’s stock, valued at approximately $7,365,523.23. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, SVP Prabhakar Raghavan sold 3,258 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $155.97, for a total value of $508,150.26. Following the transaction, the senior vice president now directly owns 144,685 shares of the company’s stock, valued at approximately $22,566,519.45. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider John Kent Walker sold 12,084 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $151.19, for a total value of $1,826,979.96. Following the completion of the transaction, the insider now directly owns 48,717 shares in the company, valued at $7,365,523.23. The disclosure for this sale can be found here. Over the last three months, insiders have sold 135,958 shares of company stock valued at $22,383,553. Insiders own 11.55% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on GOOGL. Evercore ISI upped their price objective on shares of Alphabet from $220.00 to $225.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 11th. Roth Mkm increased their price target on shares of Alphabet from $164.00 to $202.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Mizuho increased their price target on shares of Alphabet from $170.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Loop Capital increased their price target on shares of Alphabet from $155.00 to $170.00 and gave the company a “hold” rating in a research report on Wednesday, May 1st. Finally, Royal Bank of Canada increased their price target on shares of Alphabet from $155.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Five equities research analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and a consensus target price of $193.26.

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.