Marks Group Wealth Management Inc Has $28.63 Million Holdings in Alphabet Inc. $GOOG

Marks Group Wealth Management Inc grew its stake in shares of Alphabet Inc. (NASDAQ:GOOGFree Report) by 0.3% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 161,386 shares of the information services provider’s stock after acquiring an additional 446 shares during the period. Alphabet comprises 2.7% of Marks Group Wealth Management Inc’s investment portfolio, making the stock its biggest position. Marks Group Wealth Management Inc’s holdings in Alphabet were worth $28,628,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. RDA Financial Network boosted its holdings in Alphabet by 5.3% in the 2nd quarter. RDA Financial Network now owns 11,094 shares of the information services provider’s stock worth $1,968,000 after buying an additional 554 shares during the period. Tower View Wealth Management LLC boosted its holdings in Alphabet by 6.9% in the 2nd quarter. Tower View Wealth Management LLC now owns 27,644 shares of the information services provider’s stock worth $4,904,000 after buying an additional 1,776 shares during the period. Oldfather Financial Services LLC bought a new position in Alphabet in the 2nd quarter worth approximately $213,000. Truist Financial Corp boosted its holdings in Alphabet by 0.4% in the 2nd quarter. Truist Financial Corp now owns 3,626,927 shares of the information services provider’s stock worth $643,381,000 after buying an additional 15,065 shares during the period. Finally, GC Wealth Management RIA LLC boosted its holdings in Alphabet by 115.7% in the 2nd quarter. GC Wealth Management RIA LLC now owns 214,392 shares of the information services provider’s stock worth $38,031,000 after buying an additional 115,003 shares during the period. 27.26% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on GOOG shares. Wells Fargo & Company reissued an “equal weight” rating on shares of Alphabet in a report on Wednesday, July 9th. KeyCorp set a $265.00 price target on shares of Alphabet in a report on Wednesday, September 3rd. Barclays reissued a “buy” rating on shares of Alphabet in a report on Wednesday, July 9th. Roth Capital reissued a “buy” rating on shares of Alphabet in a report on Wednesday, July 9th. Finally, Scotiabank raised their price target on shares of Alphabet from $200.00 to $240.00 and gave the company a “sector outperform” rating in a report on Tuesday, July 22nd. Five analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating, five have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $235.33.

Read Our Latest Report on GOOG

Insider Activity

In other news, Director Frances Arnold sold 103 shares of the firm’s stock in a transaction on Tuesday, September 30th. The shares were sold at an average price of $243.13, for a total transaction of $25,042.39. Following the sale, the director owned 17,284 shares in the company, valued at approximately $4,202,258.92. This trade represents a 0.59% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John L. Hennessy sold 600 shares of Alphabet stock in a transaction on Monday, September 15th. The stock was sold at an average price of $249.44, for a total transaction of $149,664.00. Following the completion of the transaction, the director owned 5,716 shares in the company, valued at approximately $1,425,799.04. The trade was a 9.50% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 276,738 shares of company stock worth $59,135,475. Corporate insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

Alphabet stock opened at $247.13 on Wednesday. The firm’s fifty day moving average price is $224.07 and its 200-day moving average price is $188.32. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The stock has a market cap of $2.99 trillion, a P/E ratio of 26.32, a price-to-earnings-growth ratio of 1.70 and a beta of 1.00. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $256.70.

Alphabet (NASDAQ:GOOGGet Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.19. The firm had revenue of $96.43 billion for the quarter, compared to analysts’ expectations of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The business’s quarterly revenue was up 13.8% on a year-over-year basis. During the same quarter last year, the company posted $1.89 EPS. On average, equities research analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were given a dividend of $0.21 per share. The ex-dividend date was Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is 8.95%.

Alphabet Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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