Maridea Wealth Management LLC Takes Position in Alphabet Inc. (NASDAQ:GOOGL)

Maridea Wealth Management LLC purchased a new stake in Alphabet Inc. (NASDAQ:GOOGL) during the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 1,581 shares of the information services provider’s stock, valued at approximately $299,000.

A number of other institutional investors have also recently made changes to their positions in GOOGL. Community Bank N.A. lifted its stake in shares of Alphabet by 6.4% in the fourth quarter. Community Bank N.A. now owns 46,173 shares of the information services provider’s stock worth $8,741,000 after buying an additional 2,790 shares in the last quarter. Absolute Capital Management LLC boosted its holdings in Alphabet by 14.0% in the fourth quarter. Absolute Capital Management LLC now owns 2,096 shares of the information services provider’s stock valued at $401,000 after purchasing an additional 258 shares during the period. Permanent Capital Management LP purchased a new position in shares of Alphabet in the 4th quarter valued at about $273,000. Glass Wealth Management Co LLC increased its stake in shares of Alphabet by 4.5% during the fourth quarter. Glass Wealth Management Co LLC now owns 37,054 shares of the information services provider’s stock worth $7,014,000 after buying an additional 1,580 shares during the period. Finally, Olistico Wealth LLC raised its holdings in Alphabet by 9.1% in the fourth quarter. Olistico Wealth LLC now owns 8,981 shares of the information services provider’s stock valued at $1,700,000 after acquiring an additional 746 shares in the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on GOOGL shares. Westpark Capital raised shares of Alphabet to a “strong-buy” rating in a research report on Tuesday, April 1st. Needham & Company LLC reiterated a “buy” rating and set a $225.00 target price on shares of Alphabet in a research note on Wednesday, February 5th. UBS Group set a $190.00 price target on Alphabet in a research note on Thursday, March 27th. Stifel Nicolaus upped their price objective on Alphabet from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Finally, Wolfe Research increased their price objective on Alphabet from $220.00 to $230.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Ten research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and five have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $209.13.

Alphabet Trading Down 3.4 %

Shares of GOOGL stock opened at $145.60 on Monday. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The business has a fifty day simple moving average of $175.15 and a 200-day simple moving average of $176.93. Alphabet Inc. has a fifty-two week low of $145.38 and a fifty-two week high of $207.05. The stock has a market cap of $1.77 trillion, a P/E ratio of 18.09, a P/E/G ratio of 1.34 and a beta of 1.03.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. On average, analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.55%. Alphabet’s payout ratio is currently 9.94%.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director John L. Hennessy sold 1,500 shares of the stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $189.80, for a total value of $284,700.00. Following the completion of the sale, the director now owns 21,824 shares of the company’s stock, valued at $4,142,195.20. This trade represents a 6.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total transaction of $5,153,200.00. Following the completion of the transaction, the chief executive officer now directly owns 2,717,696 shares of the company’s stock, valued at approximately $430,917,877.76. The trade was a 1.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 119,797 shares of company stock worth $21,089,470 in the last quarter. 11.55% of the stock is owned by insiders.

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.