MBL Wealth LLC Has $2.32 Million Stock Holdings in Alphabet Inc. $GOOG

MBL Wealth LLC decreased its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 24.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,048 shares of the information services provider’s stock after selling 4,292 shares during the period. MBL Wealth LLC’s holdings in Alphabet were worth $2,315,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Sutton Place Investors LLC lifted its position in Alphabet by 10.9% during the 2nd quarter. Sutton Place Investors LLC now owns 3,530 shares of the information services provider’s stock worth $626,000 after buying an additional 346 shares in the last quarter. Wealthcare Advisory Partners LLC lifted its position in Alphabet by 17.7% during the 2nd quarter. Wealthcare Advisory Partners LLC now owns 42,243 shares of the information services provider’s stock worth $7,494,000 after buying an additional 6,360 shares in the last quarter. Tandem Investment Partners LLC lifted its position in Alphabet by 15.9% during the 2nd quarter. Tandem Investment Partners LLC now owns 7,338 shares of the information services provider’s stock worth $1,302,000 after buying an additional 1,009 shares in the last quarter. Hill Island Financial LLC lifted its position in Alphabet by 37.8% during the 2nd quarter. Hill Island Financial LLC now owns 9,808 shares of the information services provider’s stock worth $1,740,000 after buying an additional 2,689 shares in the last quarter. Finally, Firethorn Wealth Partners LLC lifted its position in Alphabet by 1.8% during the 2nd quarter. Firethorn Wealth Partners LLC now owns 4,633 shares of the information services provider’s stock worth $822,000 after buying an additional 81 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Buying and Selling

In other news, Director John L. Hennessy sold 600 shares of the company’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $249.44, for a total value of $149,664.00. Following the completion of the sale, the director directly owned 5,716 shares of the company’s stock, valued at $1,425,799.04. This represents a 9.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 953 shares of the company’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $241.20, for a total value of $229,863.60. Following the completion of the sale, the chief accounting officer directly owned 17,294 shares of the company’s stock, valued at approximately $4,171,312.80. This trade represents a 5.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 276,738 shares of company stock worth $59,135,475 over the last quarter. Insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

Shares of GOOG stock opened at $247.13 on Wednesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The stock has a market cap of $2.99 trillion, a PE ratio of 26.32, a price-to-earnings-growth ratio of 1.70 and a beta of 1.00. The stock has a 50-day moving average of $224.07 and a 200-day moving average of $188.32. Alphabet Inc. has a one year low of $142.66 and a one year high of $256.70.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.19. The company had revenue of $96.43 billion during the quarter, compared to analysts’ expectations of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.Alphabet’s revenue was up 13.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.89 EPS. As a group, sell-side analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were paid a $0.21 dividend. The ex-dividend date of this dividend was Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet’s dividend payout ratio is 8.95%.

Analyst Ratings Changes

GOOG has been the topic of several research reports. Phillip Securities downgraded shares of Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research report on Monday, September 8th. Scotiabank upped their target price on shares of Alphabet from $200.00 to $240.00 and gave the company a “sector outperform” rating in a research report on Tuesday, July 22nd. UBS Group upped their target price on shares of Alphabet from $186.00 to $192.00 and gave the company a “neutral” rating in a research report on Wednesday, July 16th. Cowen restated a “buy” rating on shares of Alphabet in a research report on Wednesday, July 9th. Finally, Oppenheimer restated an “outperform” rating and set a $270.00 target price (up from $235.00) on shares of Alphabet in a research report on Wednesday, September 3rd. Five research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $235.33.

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.