Marshall Financial Group LLC Sells 68 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Marshall Financial Group LLC trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.1% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 3,245 shares of the information services provider’s stock after selling 68 shares during the quarter. Marshall Financial Group LLC’s holdings in Alphabet were worth $591,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Tennessee Valley Asset Management Partners acquired a new stake in Alphabet in the 4th quarter worth approximately $100,000. Viewpoint Investment Partners Corp purchased a new stake in shares of Alphabet during the fourth quarter valued at $279,000. Oliver Lagore Vanvalin Investment Group increased its position in shares of Alphabet by 31.2% in the 4th quarter. Oliver Lagore Vanvalin Investment Group now owns 16,571 shares of the information services provider’s stock valued at $2,315,000 after acquiring an additional 3,943 shares during the period. Cambridge Trust Co. raised its stake in Alphabet by 0.8% in the 4th quarter. Cambridge Trust Co. now owns 481,770 shares of the information services provider’s stock worth $67,298,000 after acquiring an additional 4,054 shares during the last quarter. Finally, Tilt Investment Management Holdings PBC acquired a new stake in Alphabet during the 4th quarter worth about $3,241,000. Institutional investors own 40.03% of the company’s stock.

Insider Buying and Selling at Alphabet

In related news, SVP Prabhakar Raghavan sold 34,257 shares of Alphabet stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the transaction, the senior vice president now owns 312,210 shares in the company, valued at $50,765,346. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, SVP Prabhakar Raghavan sold 34,257 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $162.60, for a total value of $5,570,188.20. Following the completion of the sale, the senior vice president now owns 312,210 shares of the company’s stock, valued at $50,765,346. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $185.85, for a total transaction of $278,775.00. Following the sale, the director now owns 30,824 shares of the company’s stock, valued at $5,728,640.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 156,565 shares of company stock worth $26,823,893. Insiders own 11.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Truist Financial increased their price objective on Alphabet from $190.00 to $196.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Citigroup raised their price target on shares of Alphabet from $190.00 to $212.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Piper Sandler lifted their price objective on shares of Alphabet from $200.00 to $206.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Morgan Stanley increased their price objective on shares of Alphabet from $195.00 to $210.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 23rd. Finally, Guggenheim boosted their target price on shares of Alphabet from $195.00 to $205.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Six investment analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $203.74.

Alphabet Stock Up 1.1 %

Shares of GOOGL opened at $165.62 on Friday. The stock has a 50 day moving average price of $174.73 and a 200 day moving average price of $163.18. Alphabet Inc. has a one year low of $120.21 and a one year high of $191.75. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. The stock has a market capitalization of $2.05 trillion, a price-to-earnings ratio of 25.40, a PEG ratio of 1.28 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.04. The company had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $70.60 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same quarter in the previous year, the company posted $1.44 EPS. Equities research analysts forecast that Alphabet Inc. will post 7.62 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 9th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, September 9th. This represents a $0.80 annualized dividend and a yield of 0.48%. Alphabet’s dividend payout ratio is presently 12.27%.

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.