Marmo Financial Group LLC Purchases Shares of 1,253 Alphabet Inc. $GOOG

Key Points

• Marmo Financial Group LLC has acquired 1,253 shares of Alphabet Inc., valued at approximately $222,000, representing about 0.1% of its total holdings.
• Alphabet's stock has seen a 12-month price range between $142.66 and $256.70, currently trading at $247.18 with a market capitalization of $2.99 trillion.
• The company recently disclosed a quarterly dividend of $0.21 per share, reflecting an annualized dividend of $0.84 and a yield of 0.3%.

Marmo Financial Group LLC acquired a new stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The fund acquired 1,253 shares of the information services provider's stock, valued at approximately $222,000. Alphabet makes up about 0.1% of Marmo Financial Group LLC's holdings, making the stock its 29th largest position.

A number of other large investors have also recently made changes to their positions in GOOG. Principia Wealth Advisory LLC lifted its holdings in Alphabet by 111.8% in the 1st quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock worth $26,000 after purchasing an additional 85 shares in the last quarter. MorganRosel Wealth Management LLC purchased a new stake in shares of Alphabet during the 1st quarter worth approximately $26,000. Goodman Advisory Group LLC purchased a new stake in shares of Alphabet during the 1st quarter worth approximately $32,000. Greykasell Wealth Strategies Inc. purchased a new stake in shares of Alphabet during the 1st quarter worth approximately $32,000. Finally, Elevate Wealth Advisory Inc. purchased a new stake in shares of Alphabet during the 1st quarter worth approximately $34,000. 27.26% of the stock is owned by hedge funds and other institutional investors.

Alphabet Price Performance

Shares of GOOG stock opened at $247.18 on Monday. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $256.70. The stock has a market capitalization of $2.99 trillion, a price-to-earnings ratio of 26.32, a P/E/G ratio of 1.67 and a beta of 1.01. The stock has a fifty day simple moving average of $216.61 and a two-hundred day simple moving average of $184.53. 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 issued its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping 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 business had revenue of $96.43 billion during the quarter, compared to analysts' expectations of $93.67 billion. During the same period in the prior year, the business earned $1.89 EPS. The business's revenue for the quarter was up 13.8% compared to the same quarter last year. On average, analysts predict that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were paid a dividend of $0.21 per share. 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 dividend payout ratio is 8.95%.

Insider Activity

In related news, CAO Amie Thuener O'toole sold 2,778 shares of the company'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 completion of the sale, the chief accounting officer directly owned 17,293 shares in the company, valued at $4,236,785. This represents a 13.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider John Kent Walker sold 23,820 shares of the company's stock in a transaction on Monday, August 4th. The stock was sold at an average price of $194.70, for a total value of $4,637,754.00. Following the sale, the insider owned 42,999 shares of the company's stock, valued at $8,371,905.30. This trade represents a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 257,866 shares of company stock worth $52,363,610 over the last ninety days. 12.99% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

GOOG has been the topic of several recent research reports. Lake Street Capital reaffirmed a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. Citizens Jmp raised Alphabet from a "hold" rating to a "strong-buy" rating in a research report on Thursday, June 26th. Scotiabank boosted their target price on Alphabet from $200.00 to $240.00 and gave the company a "sector outperform" rating in a research report on Tuesday, July 22nd. Piper Sandler reissued a "neutral" rating on shares of Alphabet in a research report on Wednesday, July 9th. Finally, KeyCorp set a $265.00 price objective on Alphabet in a research report on Wednesday, September 3rd. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, five have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $230.35.

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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