Marcum Wealth LLC Sells 908 Shares of Alphabet Inc. (NASDAQ:GOOG)

Marcum Wealth LLC cut its position in Alphabet Inc. (NASDAQ:GOOG) by 4.7% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 18,305 shares of the information services provider’s stock after selling 908 shares during the quarter. Marcum Wealth LLC’s holdings in Alphabet were worth $2,860,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Fiduciary Advisors Inc. purchased a new stake in shares of Alphabet during the fourth quarter worth about $27,000. LSV Asset Management purchased a new stake in shares of Alphabet during the fourth quarter worth about $27,000. WealthTrak Capital Management LLC purchased a new stake in shares of Alphabet during the fourth quarter worth about $38,000. Mountain Hill Investment Partners Corp. purchased a new stake in shares of Alphabet during the fourth quarter worth about $39,000. Finally, Noble Wealth Management PBC purchased a new stake in shares of Alphabet during the fourth quarter worth about $43,000. 27.26% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on GOOG. Cantor Fitzgerald restated a “neutral” rating and set a $171.00 price target on shares of Alphabet in a research note on Friday, April 25th. Scotiabank dropped their price target on Alphabet from $232.00 to $200.00 and set a “sector outperform” rating on the stock in a research note on Monday, April 21st. Oppenheimer boosted their price target on Alphabet from $185.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, April 25th. JPMorgan Chase & Co. boosted their price target on Alphabet from $180.00 to $195.00 and gave the stock an “overweight” rating in a research note on Friday, April 25th. Finally, UBS Group dropped their target price on Alphabet from $209.00 to $173.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating, fourteen have issued a buy rating and five have given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $203.94.

Alphabet Trading Down 0.3%

Alphabet stock opened at $173.38 on Thursday. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $208.70. The stock’s 50 day simple moving average is $160.86 and its two-hundred day simple moving average is $176.45. The firm has a market cap of $2.10 trillion, a PE ratio of 21.54, a P/E/G ratio of 1.34 and a beta of 1.01.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping the consensus estimate of $2.02 by $0.79. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The business had revenue of $90.23 billion for the quarter, compared to analyst estimates of $89.30 billion. During the same quarter in the prior year, the firm posted $1.89 EPS. The business’s quarterly revenue was up 12.0% compared to the same quarter last year. Analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.48%. This is an increase from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Monday, June 9th. Alphabet’s dividend payout ratio (DPR) is presently 9.36%.

Insider Buying and Selling at Alphabet

In other news, insider John Kent Walker sold 11,764 shares of the stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $166.84, for a total value of $1,962,705.76. Following the completion of the sale, the insider now directly owns 49,037 shares in the company, valued at $8,181,333.08. This represents a 19.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Amie Thuener O’toole sold 1,374 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $173.47, for a total transaction of $238,347.78. Following the completion of the sale, the chief accounting officer now owns 15,024 shares of the company’s stock, valued at $2,606,213.28. This trade represents a 8.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 164,654 shares of company stock valued at $26,793,380 over the last ninety days. Corporate insiders own 12.99% of the company’s stock.

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.