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

Marcum Wealth LLC grew its stake in Alphabet Inc. (NASDAQ:GOOGL) by 3.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,710 shares of the information services provider’s stock after purchasing an additional 651 shares during the period. Marcum Wealth LLC’s holdings in Alphabet were worth $3,601,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. New Hampshire Trust increased its position in Alphabet by 2.7% during the 2nd quarter. New Hampshire Trust now owns 43,714 shares of the information services provider’s stock worth $7,963,000 after purchasing an additional 1,132 shares during the period. Berkshire Money Management Inc. purchased a new stake in shares of Alphabet in the first quarter valued at approximately $359,000. Schneider Downs Wealth Management Advisors LP grew its holdings in Alphabet by 58.4% during the first quarter. Schneider Downs Wealth Management Advisors LP now owns 6,374 shares of the information services provider’s stock worth $962,000 after acquiring an additional 2,351 shares during the period. Sanders Morris Harris LLC purchased a new position in Alphabet in the first quarter worth $842,000. Finally, Trinity Financial Advisors LLC lifted its holdings in Alphabet by 4.5% in the third quarter. Trinity Financial Advisors LLC now owns 4,423 shares of the information services provider’s stock valued at $771,000 after acquiring an additional 190 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Stock Performance

Alphabet stock opened at $162.93 on Friday. The company has a market cap of $2.01 trillion, a price-to-earnings ratio of 24.99, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04. Alphabet Inc. has a 12 month low of $120.21 and a 12 month high of $191.75. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. The stock’s 50-day moving average is $161.77 and its 200-day moving average is $168.01.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The firm had revenue of $84.74 billion for the quarter, compared to analyst estimates of $70.60 billion. During the same quarter last year, the firm posted $1.44 earnings per share. Equities analysts anticipate that Alphabet Inc. will post 7.64 earnings per share for the current year.

Analysts Set New Price Targets

GOOGL has been the subject of a number of research analyst reports. Royal Bank of Canada increased their price target on shares of Alphabet from $200.00 to $204.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Evercore ISI dropped their target price on shares of Alphabet from $225.00 to $200.00 and set an “outperform” rating for the company in a report on Monday, September 16th. Pivotal Research raised Alphabet to a “strong-buy” rating in a research note on Tuesday, October 1st. JPMorgan Chase & Co. raised their price objective on Alphabet from $200.00 to $208.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Finally, Citigroup boosted their target price on Alphabet from $190.00 to $212.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Eight investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and an average price target of $201.76.

Insider Activity at Alphabet

In other news, CAO Amie Thuener O’toole sold 1,367 shares of the company’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $168.84, for a total value of $230,804.28. Following the completion of the sale, the chief accounting officer now owns 29,183 shares of the company’s stock, valued at $4,927,257.72. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Alphabet news, CAO Amie Thuener O’toole sold 1,367 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $168.84, for a total value of $230,804.28. Following the completion of the transaction, the chief accounting officer now owns 29,183 shares in the company, valued at $4,927,257.72. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John L. Hennessy sold 700 shares of Alphabet stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $165.00, for a total transaction of $115,500.00. Following the sale, the director now owns 29,324 shares in the company, valued at $4,838,460. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 220,426 shares of company stock worth $35,993,340. 11.55% of the stock is currently owned by corporate insiders.

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.