Maridea Wealth Management LLC Has $889,000 Stock Holdings in Alphabet Inc. $GOOGL

Key Points

• Maridea Wealth Management LLC increased its holdings in Alphabet Inc. by 205.8%, owning 5,043 shares valued at $889,000 as of its latest SEC filing.
• CEO Sundar Pichai sold 32,500 shares of Alphabet stock at an average price of $229.73, reducing his ownership by 1.32%.
• Alphabet's recent quarterly earnings report showed a profit of $2.31 per share, surpassing estimates, with revenues of $96.43 billion for the quarter.

Maridea Wealth Management LLC raised its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 205.8% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 5,043 shares of the information services provider's stock after acquiring an additional 3,394 shares during the period. Maridea Wealth Management LLC's holdings in Alphabet were worth $889,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC raised its stake in shares of Alphabet by 3.9% during the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider's stock worth $20,886,000 after purchasing an additional 4,110 shares in the last quarter. Revolve Wealth Partners LLC raised its stake in Alphabet by 3.5% in the 4th quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider's stock valued at $2,826,000 after acquiring an additional 506 shares during the period. Rhumbline Advisers raised its stake in Alphabet by 0.8% in the 1st quarter. Rhumbline Advisers now owns 11,267,743 shares of the information services provider's stock valued at $1,742,444,000 after acquiring an additional 86,670 shares during the period. Talbot Financial LLC raised its stake in Alphabet by 1,220.1% in the 1st quarter. Talbot Financial LLC now owns 191,688 shares of the information services provider's stock valued at $29,925,000 after acquiring an additional 177,167 shares during the period. Finally, Ervin Investment Management LLC raised its stake in Alphabet by 3.9% in the 1st quarter. Ervin Investment Management LLC now owns 36,517 shares of the information services provider's stock valued at $5,647,000 after acquiring an additional 1,367 shares during the period. Institutional investors own 40.03% of the company's stock.

Insider Transactions at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $229.73, for a total value of $7,466,225.00. Following the completion of the transaction, the chief executive officer directly owned 2,429,892 shares in the company, valued at approximately $558,219,089.16. This trade represents a 1.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John Kent Walker sold 23,820 shares of the stock in a transaction dated 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 completion of the transaction, the insider owned 42,999 shares of the company's stock, valued at $8,371,905.30. This represents a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 257,866 shares of company stock valued at $52,363,610 over the last three months. Company insiders own 11.55% of the company's stock.

Alphabet Stock Performance

GOOGL opened at $244.05 on Tuesday. The business's fifty day moving average is $217.01 and its 200-day moving average is $183.83. The firm has a market cap of $2.95 trillion, a P/E ratio of 25.99, a price-to-earnings-growth ratio of 1.66 and a beta of 1.01. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $256.00.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.16. The business had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. Sell-side analysts expect that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors 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 annualized dividend and a yield of 0.3%. Alphabet's dividend payout ratio (DPR) is 8.95%.

Analyst Ratings Changes

GOOGL has been the topic of a number of research analyst reports. DA Davidson increased their price target on Alphabet from $180.00 to $190.00 and gave the company a "neutral" rating in a research note on Tuesday, September 2nd. Tigress Financial increased their price target on Alphabet from $240.00 to $280.00 and gave the company a "strong-buy" rating in a research note on Friday, September 5th. Citizens Jmp increased their price target on Alphabet from $250.00 to $290.00 and gave the company an "outperform" rating in a research note on Friday, September 19th. UBS Group increased their price target on Alphabet from $192.00 to $202.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. Finally, Needham & Company LLC upped their price objective on Alphabet from $220.00 to $260.00 and gave the company a "buy" rating in a report on Wednesday, September 3rd. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat, Alphabet presently has a consensus rating of "Moderate Buy" and a consensus price target of $233.44.

About 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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