Alphabet Inc. $GOOG Shares Purchased by Maridea Wealth Management LLC

Key Points

• Maridea Wealth Management LLC increased its stake in Alphabet Inc. by 43.6% during the second quarter, owning 10,439 shares valued at approximately $1.85 million by the end of the period.
• Alphabet reported earnings per share of $2.31 for the most recent quarter, exceeding estimates by $0.19, with revenue reaching $96.43 billion, a 13.8% increase year-over-year.
• The company declared a quarterly dividend of $0.21 per share, translating to an annualized dividend of $0.84 and a yield of 0.3%.

Maridea Wealth Management LLC grew its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 43.6% in the second quarter, according to its most recent filing with the SEC. The fund owned 10,439 shares of the information services provider's stock after acquiring an additional 3,168 shares during the period. Maridea Wealth Management LLC's holdings in Alphabet were worth $1,852,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Principia Wealth Advisory LLC boosted its holdings in shares of Alphabet by 111.8% in the first quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock worth $26,000 after buying an additional 85 shares during the period. MorganRosel Wealth Management LLC purchased a new position in Alphabet during the 1st quarter worth approximately $26,000. Goodman Advisory Group LLC acquired a new stake in Alphabet during the 1st quarter valued at $32,000. Greykasell Wealth Strategies Inc. purchased a new stake in shares of Alphabet in the first quarter valued at $32,000. Finally, Elevate Wealth Advisory Inc. acquired a new stake in shares of Alphabet in the first quarter worth $34,000. 27.26% of the stock is owned by institutional investors.

Alphabet Stock Up 0.2%

GOOG stock opened at $247.18 on Friday. The firm has a market cap of $2.99 trillion, a PE ratio of 26.32, a PEG ratio of 1.66 and a beta of 1.01. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $256.70. The company has a fifty day simple moving average of $216.61 and a 200 day simple moving average of $184.28. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its earnings results 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. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The company had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.67 billion. During the same period last year, the company earned $1.89 earnings per share. The business's revenue was up 13.8% compared to the same quarter last year. Sell-side analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

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

Wall Street Analysts Forecast Growth

GOOG has been the subject of several research analyst reports. Raymond James Financial reissued an "outperform" rating and issued a $210.00 price objective (up from $185.00) on shares of Alphabet in a research note on Thursday, July 24th. Oppenheimer reaffirmed an "outperform" rating and set a $270.00 price objective (up from $235.00) on shares of Alphabet in a research report on Wednesday, September 3rd. The Goldman Sachs Group reiterated a "buy" rating and issued a $220.00 target price on shares of Alphabet in a research report on Monday, June 2nd. JPMorgan Chase & Co. boosted their price target on shares of Alphabet from $232.00 to $260.00 and gave the company an "overweight" rating in a report on Wednesday, September 3rd. Finally, Pivotal Research upped their price target on shares of Alphabet from $245.00 to $300.00 and gave the stock a "buy" rating in a research note on Wednesday, September 3rd. Four analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, Alphabet currently has a consensus rating of "Moderate Buy" and a consensus price target of $230.35.

Insider Buying and Selling at Alphabet

In related news, insider John Kent Walker sold 23,820 shares of the firm's stock in a transaction on Monday, August 4th. The shares were sold at an average price of $194.70, for a total value of $4,637,754.00. Following the transaction, the insider directly owned 42,999 shares in the company, valued at approximately $8,371,905.30. This trade represents a 35.65% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Amie Thuener O'toole sold 2,778 shares of the business's stock in a transaction on Monday, September 15th. The stock was sold at an average price of $245.00, for a total transaction of $680,610.00. Following the transaction, the chief accounting officer directly owned 17,293 shares of the company's stock, valued at approximately $4,236,785. This represents a 13.84% decrease in their position. The disclosure for this sale can be found here. Insiders sold 258,088 shares of company stock worth $52,405,304 in the last quarter. 12.99% of the stock is owned by corporate insiders.

Alphabet Company 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.

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