Maridea Wealth Management LLC Acquires Shares of 7,963 Alphabet Inc. (NASDAQ:GOOG)

Maridea Wealth Management LLC bought a new position in Alphabet Inc. (NASDAQ:GOOG) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 7,963 shares of the information services provider’s stock, valued at approximately $1,516,000.

Several other institutional investors have also recently made changes to their positions in GOOG. Geode Capital Management LLC grew its position in Alphabet by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 103,557,486 shares of the information services provider’s stock worth $17,247,208,000 after purchasing an additional 259,213 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Alphabet by 2.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 30,824,307 shares of the information services provider’s stock valued at $5,870,181,000 after acquiring an additional 875,480 shares in the last quarter. Norges Bank purchased a new stake in shares of Alphabet during the fourth quarter valued at approximately $5,166,070,000. Principal Financial Group Inc. increased its position in shares of Alphabet by 2.5% during the third quarter. Principal Financial Group Inc. now owns 11,024,276 shares of the information services provider’s stock valued at $1,843,149,000 after acquiring an additional 264,962 shares during the last quarter. Finally, Swedbank AB boosted its position in Alphabet by 1.7% in the fourth quarter. Swedbank AB now owns 8,483,070 shares of the information services provider’s stock worth $1,615,516,000 after purchasing an additional 144,170 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Insiders Place Their Bets

In related news, insider John Kent Walker sold 16,820 shares of Alphabet stock in a transaction on Monday, December 30th. The shares were sold at an average price of $192.62, for a total value of $3,239,868.40. Following the transaction, the insider now owns 43,981 shares in the company, valued at $8,471,620.22. This trade represents a 27.66 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 1,368 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $191.55, for a total transaction of $262,040.40. Following the sale, the chief accounting officer now owns 20,681 shares of the company’s stock, valued at approximately $3,961,445.55. The trade was a 6.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 104,812 shares of company stock valued at $19,336,979 over the last 90 days. Insiders own 12.99% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ:GOOG opened at $156.06 on Friday. The company has a 50 day moving average of $181.53 and a 200 day moving average of $178.31. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The stock has a market cap of $1.90 trillion, a P/E ratio of 19.39, a P/E/G ratio of 1.34 and a beta of 1.03. Alphabet Inc. has a 12 month low of $148.20 and a 12 month high of $208.70.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. As a group, sell-side analysts forecast that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were paid a $0.20 dividend. The ex-dividend date was Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a yield of 0.51%. Alphabet’s dividend payout ratio is presently 9.94%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Wedbush reaffirmed an “outperform” rating and set a $220.00 target price on shares of Alphabet in a research report on Thursday, January 30th. Cantor Fitzgerald restated a “neutral” rating and set a $200.00 price objective on shares of Alphabet in a report on Wednesday, March 19th. Benchmark reiterated a “negative” rating on shares of Alphabet in a research note on Wednesday, February 5th. Oppenheimer raised their price target on shares of Alphabet from $215.00 to $225.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Finally, Needham & Company LLC reiterated a “buy” rating on shares of Alphabet in a research note on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus target price of $208.56.

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.