Mark Asset Management LP Cuts Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Mark Asset Management LP cut its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 157,806 shares of the information services provider’s stock after selling 5,392 shares during the quarter. Alphabet accounts for about 2.9% of Mark Asset Management LP’s portfolio, making the stock its 9th biggest holding. Mark Asset Management LP’s holdings in Alphabet were worth $28,744,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Matrix Private Capital Group LLC grew its position in Alphabet by 3.9% in the second quarter. Matrix Private Capital Group LLC now owns 6,046 shares of the information services provider’s stock valued at $1,101,000 after purchasing an additional 226 shares in the last quarter. Maverick Capital Ltd. acquired a new position in shares of Alphabet during the 2nd quarter worth about $2,038,000. Daymark Wealth Partners LLC grew its holdings in shares of Alphabet by 13.2% in the 2nd quarter. Daymark Wealth Partners LLC now owns 288,370 shares of the information services provider’s stock valued at $52,527,000 after acquiring an additional 33,619 shares in the last quarter. DE Burlo Group Inc. increased its position in shares of Alphabet by 172.3% in the second quarter. DE Burlo Group Inc. now owns 68,215 shares of the information services provider’s stock valued at $12,425,000 after acquiring an additional 43,160 shares during the last quarter. Finally, Decatur Capital Management Inc. raised its holdings in Alphabet by 2.5% during the second quarter. Decatur Capital Management Inc. now owns 82,914 shares of the information services provider’s stock worth $15,103,000 after acquiring an additional 2,036 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Evercore ISI decreased their price target on Alphabet from $225.00 to $200.00 and set an “outperform” rating for the company in a research note on Monday, September 16th. Morgan Stanley decreased their target price on shares of Alphabet from $205.00 to $190.00 and set an “overweight” rating for the company in a research note on Tuesday, September 3rd. Wedbush reaffirmed an “outperform” rating and set a $205.00 price target on shares of Alphabet in a research report on Thursday, September 5th. Royal Bank of Canada lifted their price objective on shares of Alphabet from $200.00 to $204.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Finally, Citigroup upped their target price on shares of Alphabet from $190.00 to $212.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Eight equities research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $201.14.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total value of $114,576.00. Following the transaction, the chief accounting officer now owns 31,334 shares in the company, valued at approximately $5,264,112. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $168.00, for a total value of $114,576.00. Following the sale, the chief accounting officer now directly owns 31,334 shares in the company, valued at approximately $5,264,112. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Prabhakar Raghavan sold 34,257 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the transaction, the senior vice president now owns 312,210 shares of the company’s stock, valued at approximately $50,765,346. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 217,592 shares of company stock valued at $35,922,911. Company insiders own 11.55% of the company’s stock.

Alphabet Trading Up 0.9 %

Shares of NASDAQ:GOOGL opened at $164.38 on Wednesday. The business’s 50 day simple moving average is $161.93 and its 200 day simple moving average is $167.52. Alphabet Inc. has a 1 year low of $120.21 and a 1 year high of $191.75. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. The company has a market capitalization of $2.03 trillion, a P/E ratio of 25.21, a P/E/G ratio of 1.21 and a beta of 1.04.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.04. The company had revenue of $84.74 billion for the quarter, compared to analyst estimates of $70.60 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. During the same period in the prior year, the firm posted $1.44 EPS. On average, research analysts anticipate that Alphabet Inc. will post 7.63 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend was Monday, September 9th. Alphabet’s payout ratio is presently 12.27%.

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.