Marcum Wealth LLC Buys 13 Shares of Alphabet Inc. (NASDAQ:GOOG)

Marcum Wealth LLC boosted its stake in Alphabet Inc. (NASDAQ:GOOG) by 2.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 561 shares of the information services provider’s stock after acquiring an additional 13 shares during the period. Marcum Wealth LLC’s holdings in Alphabet were worth $1,406,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Cigna Investments Inc. New grew its stake in Alphabet by 2.6% during the first quarter. Cigna Investments Inc. New now owns 10,451 shares of the information services provider’s stock valued at $21,620,000 after acquiring an additional 262 shares in the last quarter. PNC Managed Account Solutions Inc. purchased a new position in Alphabet during the second quarter valued at approximately $2,125,000. Nomura Asset Management Co. Ltd. grew its stake in Alphabet by 2.6% during the first quarter. Nomura Asset Management Co. Ltd. now owns 97,241 shares of the information services provider’s stock valued at $201,155,000 after acquiring an additional 2,483 shares in the last quarter. Rice Partnership LLC grew its stake in Alphabet by 78.4% during the second quarter. Rice Partnership LLC now owns 1,104 shares of the information services provider’s stock valued at $2,767,000 after acquiring an additional 485 shares in the last quarter. Finally, Red Door Wealth Management LLC grew its stake in Alphabet by 17.9% during the second quarter. Red Door Wealth Management LLC now owns 2,802 shares of the information services provider’s stock valued at $7,022,000 after acquiring an additional 426 shares in the last quarter. 31.55% of the stock is currently owned by institutional investors and hedge funds.

Shares of Alphabet stock traded down $21.45 during trading on Wednesday, hitting $2,846.67. The company’s stock had a trading volume of 14,419 shares, compared to its average volume of 1,313,009. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.14 and a current ratio of 3.15. The company has a fifty day simple moving average of $2,761.21 and a two-hundred day simple moving average of $2,467.80. The company has a market capitalization of $1.90 trillion, a PE ratio of 31.09, a P/E/G ratio of 1.85 and a beta of 1.00. Alphabet Inc. has a 52 week low of $1,406.55 and a 52 week high of $2,936.41.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Monday, July 26th. The information services provider reported $27.26 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $19.89 by $7.37. The company had revenue of $61.88 billion during the quarter, compared to analyst estimates of $56.08 billion. Alphabet had a net margin of 28.57% and a return on equity of 27.87%. Alphabet’s quarterly revenue was up 61.6% compared to the same quarter last year. During the same period last year, the business earned $10.13 EPS. As a group, analysts predict that Alphabet Inc. will post 101.86 EPS for the current year.

GOOG has been the subject of several recent analyst reports. Piper Sandler boosted their price objective on shares of Alphabet from $2,635.00 to $3,034.00 and gave the company an “overweight” rating in a research note on Wednesday, July 28th. Wolfe Research boosted their price target on shares of Alphabet from $2,900.00 to $3,400.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 28th. Sanford C. Bernstein boosted their price target on shares of Alphabet from $3,000.00 to $3,200.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 28th. Cowen boosted their price target on shares of Alphabet from $2,900.00 to $3,300.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 28th. Finally, Zacks Investment Research cut shares of Alphabet from a “buy” rating to a “hold” rating in a research note on Monday, July 26th. Three equities research analysts have rated the stock with a hold rating and thirty-one have assigned a buy rating to the stock. According to MarketBeat, Alphabet currently has a consensus rating of “Buy” and an average target price of $3,087.17.

In related news, CAO Amie Thuener O’toole sold 48 shares of the stock in a transaction dated Thursday, July 1st. The shares were sold at an average price of $2,496.99, for a total transaction of $119,855.52. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP John Kent Walker sold 2,501 shares of the firm’s stock in a transaction dated Tuesday, June 29th. The shares were sold at an average price of $2,517.43, for a total transaction of $6,296,092.43. The disclosure for this sale can be found here. Over the last quarter, insiders sold 461,489 shares of company stock valued at $325,800,236. 12.99% of the stock is owned by company insiders.

About Alphabet

Alphabet, Inc is a holding company, which engages in the business of acquisition and operation of different companies. It operates through the Google and Other Bets segments. The Google segment includes its main Internet products such as ads, Android, Chrome, hardware, Google Cloud, Google Maps, Google Play, Search, and YouTube.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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