Marshall & Sullivan Inc. WA Cuts Position in Alphabet Inc. (NASDAQ:GOOGL)

Marshall & Sullivan Inc. WA reduced its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 4.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 42,763 shares of the information services provider's stock after selling 1,773 shares during the quarter. Alphabet comprises 3.4% of Marshall & Sullivan Inc. WA's investment portfolio, making the stock its 9th biggest holding. Marshall & Sullivan Inc. WA's holdings in Alphabet were worth $6,613,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. JPMorgan Chase & Co. boosted its position in Alphabet by 7.7% during the third quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider's stock worth $10,559,240,000 after purchasing an additional 4,567,275 shares in the last quarter. Wealth Group Ltd. raised its stake in shares of Alphabet by 5.2% during the 4th quarter. Wealth Group Ltd. now owns 1,582 shares of the information services provider's stock worth $299,000 after buying an additional 78 shares during the last quarter. Capital & Planning LLC boosted its position in shares of Alphabet by 34.3% in the 4th quarter. Capital & Planning LLC now owns 4,383 shares of the information services provider's stock worth $830,000 after buying an additional 1,119 shares in the last quarter. Eagle Capital Management LLC grew its stake in Alphabet by 0.7% in the 4th quarter. Eagle Capital Management LLC now owns 50,132 shares of the information services provider's stock valued at $9,490,000 after acquiring an additional 371 shares during the last quarter. Finally, Brighton Jones LLC grew its stake in Alphabet by 3.9% in the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider's stock valued at $20,886,000 after acquiring an additional 4,110 shares during the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. KeyCorp upped their price target on shares of Alphabet from $185.00 to $195.00 and gave the company an "overweight" rating in a report on Friday, April 25th. Oppenheimer raised their price target on Alphabet from $185.00 to $200.00 and gave the stock an "outperform" rating in a research report on Friday, April 25th. Jefferies Financial Group dropped their price objective on Alphabet from $235.00 to $200.00 and set a "buy" rating for the company in a research report on Monday, March 31st. Truist Financial reduced their target price on shares of Alphabet from $220.00 to $200.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Finally, BMO Capital Markets reiterated an "outperform" rating and set a $200.00 price target (down from $230.00) on shares of Alphabet in a report on Thursday, April 17th. Ten investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $199.75.

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total transaction of $5,153,200.00. Following the sale, the chief executive officer now owns 2,717,696 shares in the company, valued at $430,917,877.76. This represents a 1.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Amie Thuener O'toole sold 673 shares of the business's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $155.33, for a total transaction of $104,537.09. Following the sale, the chief accounting officer now owns 15,303 shares of the company's stock, valued at approximately $2,377,014.99. The trade was a 4.21% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 163,270 shares of company stock valued at $26,553,563 in the last three months. Corporate insiders own 11.64% of the company's stock.

Alphabet Stock Up 1.1%

Shares of NASDAQ GOOGL traded up $1.87 during trading on Wednesday, reaching $168.05. 26,849,749 shares of the stock were exchanged, compared to its average volume of 30,042,469. The company has a market capitalization of $2.04 trillion, a price-to-earnings ratio of 20.88, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01. The business's 50-day moving average price is $159.26 and its 200 day moving average price is $174.47. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $207.05.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.79. The firm had revenue of $76.49 billion for the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. During the same quarter in the previous year, the firm posted $1.89 EPS. As a group, equities analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date of this dividend is Monday, June 9th. This is a positive change from Alphabet's previous quarterly dividend of $0.20. Alphabet's dividend payout ratio (DPR) is 9.36%.

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.