Maridea Wealth Management LLC Acquires 2,036 Shares of Alphabet Inc. $GOOGL

Maridea Wealth Management LLC increased its holdings in Alphabet Inc. (NASDAQ:GOOGLFree Report) by 40.4% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,079 shares of the information services provider’s stock after purchasing an additional 2,036 shares during the period. Maridea Wealth Management LLC’s holdings in Alphabet were worth $1,816,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Brighton Jones LLC grew its position in Alphabet by 3.9% during the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock worth $20,886,000 after acquiring an additional 4,110 shares during the last quarter. Revolve Wealth Partners LLC lifted its position in Alphabet by 3.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock valued at $2,826,000 after purchasing an additional 506 shares during the last quarter. Hutchens & Kramer Investment Management Group LLC boosted its stake in shares of Alphabet by 9.6% during the second quarter. Hutchens & Kramer Investment Management Group LLC now owns 4,900 shares of the information services provider’s stock valued at $862,000 after purchasing an additional 431 shares during the period. Matrix Asset Advisors Inc. NY grew its holdings in shares of Alphabet by 17.6% in the second quarter. Matrix Asset Advisors Inc. NY now owns 3,888 shares of the information services provider’s stock worth $685,000 after purchasing an additional 581 shares during the last quarter. Finally, Sequoia Financial Advisors LLC increased its stake in shares of Alphabet by 11.2% in the second quarter. Sequoia Financial Advisors LLC now owns 485,486 shares of the information services provider’s stock worth $85,557,000 after buying an additional 48,805 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Buying and Selling at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $321.21, for a total value of $10,439,325.00. Following the sale, the chief executive officer directly owned 2,244,372 shares of the company’s stock, valued at $720,914,730.12. The trade was a 1.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 2,778 shares of the firm’s stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $312.30, for a total value of $867,569.40. Following the transaction, the chief accounting officer directly owned 8,962 shares of the company’s stock, valued at approximately $2,798,832.60. This trade represents a 23.66% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 2,078,926 shares of company stock valued at $108,426,720 over the last ninety days. Company insiders own 11.55% of the company’s stock.

Key Stories Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Phillip Securities raised shares of Alphabet from a “moderate buy” rating to a “strong-buy” rating in a research report on Friday, November 7th. KeyCorp set a $370.00 target price on shares of Alphabet and gave the stock an “overweight” rating in a report on Thursday, February 5th. New Street Research boosted their price target on Alphabet from $330.00 to $380.00 and gave the company a “buy” rating in a report on Tuesday, February 10th. Weiss Ratings reiterated a “buy (b)” rating on shares of Alphabet in a report on Wednesday, January 21st. Finally, Rosenblatt Securities boosted their target price on Alphabet from $279.00 to $357.00 and gave the company a “neutral” rating in a research note on Thursday, February 5th. Three research analysts have rated the stock with a Strong Buy rating, forty-three have issued a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and an average target price of $366.57.

View Our Latest Stock Analysis on GOOGL

Alphabet Trading Down 1.0%

NASDAQ GOOGL opened at $303.58 on Wednesday. The firm has a market capitalization of $3.67 trillion, a PE ratio of 28.08, a P/E/G ratio of 1.79 and a beta of 1.10. The stock’s 50 day moving average is $320.71 and its 200 day moving average is $284.77. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $349.00. The company has a quick ratio of 2.01, a current ratio of 2.01 and a debt-to-equity ratio of 0.11.

Alphabet (NASDAQ:GOOGLGet Free Report) last announced its earnings results on Wednesday, February 4th. The information services provider reported $2.82 EPS for the quarter, beating analysts’ consensus estimates of $2.57 by $0.25. The firm had revenue of $113.83 billion for the quarter, compared to analysts’ expectations of $111.24 billion. Alphabet had a net margin of 32.81% and a return on equity of 35.01%. Research analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 9th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, March 9th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is currently 7.77%.

Alphabet Profile

(Free Report)

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.

See Also

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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