Marion Wealth Management grew its holdings in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 2.2% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,156 shares of the information services provider’s stock after buying an additional 458 shares during the period. Alphabet makes up 0.9% of Marion Wealth Management’s portfolio, making the stock its 27th largest holding. Marion Wealth Management’s holdings in Alphabet were worth $2,532,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in Alphabet by 1,919.4% in the third quarter. Vanguard Group Inc. now owns 477,035,902 shares of the information services provider’s stock worth $45,628,484,000 after buying an additional 453,413,389 shares during the last quarter. State Street Corp lifted its position in Alphabet by 1,900.6% in the third quarter. State Street Corp now owns 217,154,306 shares of the information services provider’s stock worth $20,770,809,000 after buying an additional 206,300,042 shares during the last quarter. Moneta Group Investment Advisors LLC lifted its stake in Alphabet by 111,197.8% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 170,420,243 shares of the information services provider’s stock worth $15,036,178,000 after purchasing an additional 170,267,122 shares during the last quarter. Geode Capital Management LLC lifted its stake in Alphabet by 1.3% in the first quarter. Geode Capital Management LLC now owns 118,576,618 shares of the information services provider’s stock worth $12,271,705,000 after purchasing an additional 1,499,107 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in Alphabet by 1,759.2% in the third quarter. Price T Rowe Associates Inc. MD now owns 116,116,066 shares of the information services provider’s stock worth $11,106,502,000 after purchasing an additional 109,870,525 shares during the last quarter. 35.08% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
GOOGL has been the subject of several analyst reports. Susquehanna reissued a “positive” rating and issued a $150.00 price objective on shares of Alphabet in a research note on Thursday, August 31st. Piper Sandler decreased their target price on Alphabet from $148.00 to $147.00 and set an “overweight” rating for the company in a research report on Tuesday, October 3rd. Royal Bank of Canada lifted their target price on Alphabet from $145.00 to $155.00 in a research report on Wednesday, July 26th. UBS Group downgraded Alphabet from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $123.00 to $132.00 in a research report on Monday, June 26th. Finally, JMP Securities reiterated a “market outperform” rating and set a $138.00 target price on shares of Alphabet in a research report on Wednesday, August 30th. Four equities research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $144.00.
Insider Buying and Selling
In other Alphabet news, Director Ann Mather sold 220 shares of Alphabet stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $121.75, for a total transaction of $26,785.00. Following the completion of the transaction, the director now owns 4,759 shares in the company, valued at approximately $579,408.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Ann Mather sold 220 shares of the firm’s stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $121.75, for a total transaction of $26,785.00. Following the sale, the director now owns 4,759 shares of the company’s stock, valued at approximately $579,408.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 3,749 shares of Alphabet stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $136.28, for a total transaction of $510,913.72. Following the transaction, the chief accounting officer now directly owns 25,568 shares of the company’s stock, valued at $3,484,407.04. The disclosure for this sale can be found here. In the last quarter, insiders have sold 101,091 shares of company stock worth $13,530,462. 0.88% of the stock is owned by company insiders.
Alphabet Price Performance
NASDAQ GOOGL opened at $138.97 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.17 and a quick ratio of 2.14. The stock’s fifty day moving average price is $133.33 and its 200 day moving average price is $122.49. Alphabet Inc. has a 1 year low of $83.34 and a 1 year high of $141.22. The company has a market cap of $1.75 trillion, a price-to-earnings ratio of 29.44, a PEG ratio of 1.59 and a beta of 1.06.
Alphabet (NASDAQ:GOOGL – Get Free Report) last released its earnings results on Tuesday, July 25th. The information services provider reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.32 by $0.12. Alphabet had a return on equity of 23.49% and a net margin of 21.05%. The firm had revenue of $74.60 billion for the quarter, compared to the consensus estimate of $60.24 billion. During the same period in the prior year, the firm earned $1.21 EPS. As a group, equities research analysts forecast that Alphabet Inc. will post 5.68 earnings per share for the current year.
Alphabet 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, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
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