Marks Group Wealth Management Inc Has $22.32 Million Holdings in Alphabet Inc. $GOOG

Marks Group Wealth Management Inc cut its position in Alphabet Inc. (NASDAQ:GOOG) by 30.2% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 77,792 shares of the information services provider’s stock after selling 33,581 shares during the period. Alphabet makes up about 2.2% of Marks Group Wealth Management Inc’s investment portfolio, making the stock its 3rd largest holding. Marks Group Wealth Management Inc’s holdings in Alphabet were worth $22,315,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Nvest Wealth Strategies Inc. bought a new stake in shares of Alphabet during the fourth quarter valued at approximately $38,000. Lifetime Wealth Management P.C. bought a new position in Alphabet in the 4th quarter valued at approximately $38,000. Imprint Wealth LLC purchased a new stake in Alphabet during the 3rd quarter valued at $31,000. Bard Associates Inc. bought a new stake in shares of Alphabet in the 4th quarter worth $41,000. Finally, Towne Trust Company N.A increased its holdings in shares of Alphabet by 34.0% in the 4th quarter. Towne Trust Company N.A now owns 134 shares of the information services provider’s stock worth $42,000 after purchasing an additional 34 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.

Insider Buying and Selling at Alphabet

In other Alphabet news, insider John Kent Walker sold 8,998 shares of the company’s stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $349.29, for a total value of $3,142,911.42. Following the completion of the transaction, the insider directly owned 75,290 shares in the company, valued at $26,298,044.10. This represents a 10.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the stock in a transaction on Friday, May 15th. The stock was sold at an average price of $23.75, for a total transaction of $2,077,531.25. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 159,415 shares of company stock valued at $7,672,279. 12.99% of the stock is currently owned by company insiders.

Alphabet Stock Performance

Shares of GOOG opened at $346.12 on Monday. The business has a 50-day simple moving average of $366.29 and a two-hundred day simple moving average of $336.81. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.16. Alphabet Inc. has a 52 week low of $184.73 and a 52 week high of $404.47. The stock has a market cap of $4.19 trillion, a price-to-earnings ratio of 26.40, a PEG ratio of 1.43 and a beta of 1.23.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Thursday, April 30th. The information services provider reported $5.11 earnings per share for the quarter, beating analysts’ consensus estimates of $2.68 by $2.43. The firm had revenue of $109.90 billion for the quarter, compared to analysts’ expectations of $106.96 billion. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The business’s quarterly revenue was up 21.8% on a year-over-year basis. During the same period in the previous year, the firm earned $2.81 EPS. On average, analysts expect that Alphabet Inc. will post 14.33 EPS for the current year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 8th were paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date was Monday, June 8th. This is a positive change from Alphabet’s previous quarterly dividend of $0.21. Alphabet’s dividend payout ratio (DPR) is 6.71%.

Wall Street Analyst Weigh In

GOOG has been the topic of several recent analyst reports. Wedbush started coverage on Alphabet in a research report on Thursday. They set an “outperform” rating and a $445.00 price objective on the stock. Phillip Securities downgraded shares of Alphabet from a “strong-buy” rating to a “moderate buy” rating in a report on Wednesday, April 15th. Oppenheimer boosted their price objective on shares of Alphabet from $425.00 to $445.00 and gave the company an “outperform” rating in a report on Friday, May 15th. Weiss Ratings restated a “buy (b)” rating on shares of Alphabet in a research report on Monday, April 20th. Finally, Freedom Capital downgraded shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Five equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $383.44.

Key Headlines Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Bank of America and Wedbush remain bullish, with both highlighting strong cloud growth, AI monetization potential, and upside to the stock ahead of earnings. Alphabet could crush estimates on Cloud strength, Anthropic windfall: BofA
• Positive Sentiment: Analysts and investors are still pointing to accelerating Google Search and Google Cloud growth, while retail interest and institutional ownership remain strong ahead of the July 22 report.
• Positive Sentiment: Alphabet’s AI and cloud businesses remain central to the bullish thesis, with multiple articles noting that the company could benefit from rising AI infrastructure spend and strong earnings expectations.

Alphabet Profile

Alphabet Inc (NASDAQ: GOOG) is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as “Other Bets.” Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company’s history.

Alphabet’s core business centers on internet search and advertising, with Google Search and the company’s ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.