Marshall Investment Management LLC Acquires 921 Shares of Alphabet Inc. (NASDAQ:GOOG)

Marshall Investment Management LLC raised its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 6.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,135 shares of the information services provider’s stock after purchasing an additional 921 shares during the period. Alphabet accounts for about 1.6% of Marshall Investment Management LLC’s holdings, making the stock its 24th largest holding. Marshall Investment Management LLC’s holdings in Alphabet were worth $2,521,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Brighton Jones LLC raised its position in shares of Alphabet by 5.6% in the 4th quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider’s stock worth $22,901,000 after acquiring an additional 6,410 shares in the last quarter. Bank Pictet & Cie Europe AG raised its position in shares of Alphabet by 4.3% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 506,535 shares of the information services provider’s stock worth $96,465,000 after acquiring an additional 20,855 shares in the last quarter. Partners in Financial Planning bought a new position in shares of Alphabet in the 4th quarter worth approximately $491,000. Hazlett Burt & Watson Inc. raised its position in shares of Alphabet by 11.2% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 8,401 shares of the information services provider’s stock worth $1,598,000 after acquiring an additional 846 shares in the last quarter. Finally, FSB Premier Wealth Management Inc. raised its position in shares of Alphabet by 4.6% in the 4th quarter. FSB Premier Wealth Management Inc. now owns 16,715 shares of the information services provider’s stock worth $3,183,000 after acquiring an additional 734 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.

Insider Activity

In other news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total value of $5,801,900.00. Following the transaction, the chief executive officer directly owned 2,559,892 shares in the company, valued at $456,991,919.84. The trade was a 1.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kavitark Ram Shriram sold 18,566 shares of the business’s stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $3,448,820.16. Following the completion of the transaction, the director owned 243,400 shares in the company, valued at $45,213,984. The trade was a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 249,409 shares of company stock worth $43,523,710 over the last 90 days. Company insiders own 12.99% of the company’s stock.

Alphabet Price Performance

NASDAQ GOOG opened at $193.42 on Tuesday. The business’s fifty day moving average is $177.37 and its 200 day moving average is $174.38. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $208.70. The company has a market capitalization of $2.35 trillion, a PE ratio of 20.60, a price-to-earnings-growth ratio of 1.31 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 (NASDAQ:GOOG) last announced its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating 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 for the quarter, compared to the consensus estimate of $93.67 billion. During the same period in the previous year, the business earned $1.89 earnings per share. The business’s revenue was up 13.8% on a year-over-year basis. Sell-side analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be given a $0.21 dividend. The ex-dividend date is Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.43%. Alphabet’s payout ratio is 8.95%.

Analysts Set New Price Targets

GOOG has been the subject of several research reports. Tigress Financial reissued a “strong-buy” rating on shares of Alphabet in a research report on Friday, May 2nd. Cowen reissued a “buy” rating on shares of Alphabet in a research report on Wednesday, July 9th. KeyCorp reduced their price objective on Alphabet from $202.00 to $185.00 and set an “overweight” rating for the company in a research report on Wednesday, April 9th. Oppenheimer reaffirmed an “outperform” rating and set a $235.00 price objective (up previously from $220.00) on shares of Alphabet in a research report on Thursday, July 24th. Finally, Citigroup reaffirmed a “sell” rating on shares of Alphabet in a research report on Wednesday, April 23rd. Three analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have issued a buy rating and five have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $215.19.

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.