MRA Advisory Group Grows Holdings in Alphabet Inc. $GOOG

Key Points

• MRA Advisory Group increased its stake in Alphabet Inc. (NASDAQ:GOOG) by 13.9% during the second quarter, holding a total of 11,195 shares worth approximately $1,986,000.
• Insider transactions revealed significant sales, including Director Kavitark Ram Shriram selling 15,000 shares worth around $2.79 million, reducing his position by 5.87%.
• Alphabet recently announced a quarterly dividend of $0.21 per share, with a yield of 0.3%, reflecting a low payout ratio of 8.95%.

MRA Advisory Group raised its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 13.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,195 shares of the information services provider's stock after purchasing an additional 1,368 shares during the period. Alphabet comprises about 0.9% of MRA Advisory Group's investment portfolio, making the stock its 21st largest position. MRA Advisory Group's holdings in Alphabet were worth $1,986,000 at the end of the most recent reporting period.

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

Insider Transactions at Alphabet

In related news, Director Kavitark Ram Shriram sold 15,000 shares of the business's stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $2,786,400.00. Following the completion of the sale, the director owned 240,400 shares of the company's stock, valued at approximately $44,656,704. The trade was a 5.87% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider John Kent Walker sold 23,820 shares of the business's stock in a transaction that occurred 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 completion of the sale, the insider directly owned 42,999 shares of the company's stock, valued at approximately $8,371,905.30. The trade was a 35.65% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 254,710 shares of company stock worth $49,208,380. 12.99% of the stock is owned by corporate insiders.

Alphabet Price Performance

NASDAQ GOOG opened at $241.38 on Monday. The stock's 50-day moving average price is $202.67 and its two-hundred day moving average price is $178.92. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The company has a market cap of $2.92 trillion, a PE ratio of 25.71, a PEG ratio of 1.62 and a beta of 1.01. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $242.57.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) 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 firm had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.67 billion. During the same quarter in the previous year, the company 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 year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet's payout ratio is 8.95%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Roth Capital reissued a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. Oppenheimer reaffirmed an "outperform" rating and issued a $270.00 price objective (up previously from $235.00) on shares of Alphabet in a report on Wednesday, September 3rd. Pivotal Research raised their target price on Alphabet from $245.00 to $300.00 and gave the company a "buy" rating in a research note on Wednesday, September 3rd. Scotiabank lifted their price objective on shares of Alphabet from $200.00 to $240.00 and gave the company a "sector outperform" rating in a research note on Tuesday, July 22nd. Finally, KeyCorp set a $265.00 price objective on shares of Alphabet in a research note on Wednesday, September 3rd. Four research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $227.56.

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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