Marex Group plc Buys Shares of 13,082 Alphabet Inc. $GOOGL

by · The Cerbat Gem

Marex Group plc purchased a new position in shares of Alphabet Inc. (NASDAQ:GOOGLFree Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund purchased 13,082 shares of the information services provider’s stock, valued at approximately $2,305,000.

Several other large investors have also bought and sold shares of GOOGL. MRP Capital Investments LLC grew its holdings in Alphabet by 59.9% during the 2nd quarter. MRP Capital Investments LLC now owns 8,860 shares of the information services provider’s stock worth $1,561,000 after acquiring an additional 3,320 shares during the period. Advisory Services Network LLC boosted its position in shares of Alphabet by 15.7% in the 2nd quarter. Advisory Services Network LLC now owns 260,422 shares of the information services provider’s stock worth $49,975,000 after purchasing an additional 35,280 shares during the last quarter. Cim LLC boosted its position in shares of Alphabet by 0.9% in the 2nd quarter. Cim LLC now owns 132,193 shares of the information services provider’s stock worth $23,296,000 after purchasing an additional 1,182 shares during the last quarter. Asset Dedication LLC grew its stake in shares of Alphabet by 2.3% during the second quarter. Asset Dedication LLC now owns 17,704 shares of the information services provider’s stock worth $3,120,000 after purchasing an additional 395 shares during the period. Finally, L1 Capital Pty Ltd bought a new stake in Alphabet in the second quarter valued at about $120,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Piper Sandler restated an “overweight” rating and set a $365.00 target price (up from $330.00) on shares of Alphabet in a research report on Thursday. BNP Paribas Exane assumed coverage on shares of Alphabet in a report on Monday, November 24th. They set an “outperform” rating and a $355.00 price objective for the company. Wall Street Zen upgraded shares of Alphabet from a “hold” rating to a “buy” rating in a report on Saturday, November 1st. DZ Bank reissued a “buy” rating on shares of Alphabet in a research report on Thursday, November 20th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Alphabet in a research report on Wednesday, October 8th. Four equities research analysts have rated the stock with a Strong Buy rating, forty-one have issued a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $314.22.

View Our Latest Research Report on Alphabet

Alphabet Stock Down 1.0%

Shares of GOOGL stock opened at $309.29 on Monday. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $328.83. The firm has a market capitalization of $3.73 trillion, a P/E ratio of 30.50, a PEG ratio of 1.79 and a beta of 1.07. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.06. The firm’s fifty day moving average price is $283.14 and its two-hundred day moving average price is $229.97.

Alphabet (NASDAQ:GOOGLGet Free Report) last posted its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. The firm had revenue of $102.35 billion during the quarter, compared to the consensus estimate of $99.90 billion. Alphabet had a return on equity of 35.00% and a net margin of 32.23%. On average, equities analysts predict that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be issued a dividend of $0.21 per share. The ex-dividend date is Monday, December 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is presently 8.28%.

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $249.50, for a total transaction of $8,108,750.00. Following the completion of the sale, the chief executive officer directly owned 2,397,392 shares in the company, valued at $598,149,304. This trade represents a 1.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider John Kent Walker sold 17,816 shares of the company’s stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $247.42, for a total value of $4,408,034.72. Following the completion of the transaction, the insider directly owned 42,985 shares in the company, valued at $10,635,348.70. The trade was a 29.30% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 222,750 shares of company stock valued at $60,496,098. 11.55% of the stock is owned by insiders.

Alphabet Company Profile

(Free Report)

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.

Further Reading

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