Marks Group Wealth Management Inc lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 5.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 162,384 shares of the information services provider's stock after purchasing an additional 8,304 shares during the quarter. Alphabet comprises about 2.6% of Marks Group Wealth Management Inc's investment portfolio, making the stock its largest holding. Marks Group Wealth Management Inc's holdings in Alphabet were worth $27,149,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also bought and sold shares of GOOG. Abich Financial Wealth Management LLC grew its holdings in Alphabet by 9,200.0% during the second quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider's stock worth $34,000 after acquiring an additional 184 shares during the period. 1620 Investment Advisors Inc. bought a new position in shares of Alphabet during the 2nd quarter valued at about $37,000. HWG Holdings LP acquired a new position in shares of Alphabet in the 2nd quarter worth approximately $40,000. Slocum Gordon & Co LLP bought a new stake in shares of Alphabet in the 2nd quarter worth approximately $44,000. Finally, Hoese & Co LLP lifted its stake in Alphabet by 62.5% during the second quarter. Hoese & Co LLP now owns 260 shares of the information services provider's stock valued at $45,000 after purchasing an additional 100 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company's stock.
Shares of NASDAQ GOOG opened at $171.41 on Wednesday. Alphabet Inc. has a one year low of $129.40 and a one year high of $193.31. The business's 50-day moving average price is $163.97 and its two-hundred day moving average price is $170.83. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The company has a market capitalization of $2.11 trillion, a P/E ratio of 22.73, a price-to-earnings-growth ratio of 1.22 and a beta of 1.04.
Alphabet (NASDAQ:GOOG - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping analysts' consensus estimates of $1.83 by $0.29. The firm had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The firm's revenue was up 15.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.55 earnings per share. Analysts anticipate that Alphabet Inc. will post 7.97 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet's dividend payout ratio is presently 10.61%.
In other Alphabet news, Director Frances Arnold sold 441 shares of the firm's stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $171.06, for a total transaction of $75,437.46. Following the transaction, the director now directly owns 16,490 shares in the company, valued at $2,820,779.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Frances Arnold sold 441 shares of the firm's stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $171.06, for a total value of $75,437.46. Following the transaction, the director now directly owns 16,490 shares of the company's stock, valued at approximately $2,820,779.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Amie Thuener O'toole sold 1,367 shares of the company's stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $171.42, for a total value of $234,331.14. Following the sale, the chief accounting officer now directly owns 26,349 shares of the company's stock, valued at $4,516,745.58. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 209,552 shares of company stock worth $34,433,848. Corporate insiders own 12.99% of the company's stock.
Several research analysts have issued reports on the company. UBS Group upped their price target on Alphabet from $187.00 to $192.00 and gave the company a "neutral" rating in a report on Wednesday, October 30th. Wells Fargo & Company upped their target price on Alphabet from $182.00 to $187.00 and gave the company an "equal weight" rating in a report on Wednesday, October 30th. Cantor Fitzgerald upgraded Alphabet to a "hold" rating in a research report on Thursday, September 5th. Canaccord Genuity Group boosted their price objective on Alphabet from $220.00 to $225.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. Finally, Pivotal Research upped their price objective on shares of Alphabet from $215.00 to $225.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $200.56.
Get Our Latest Report on 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.
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