Accent Capital Management LLC Raises Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Accent Capital Management LLC boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 210.4% during the 3rd quarter, Holdings Channel reports. The firm owned 92,754 shares of the information services provider’s stock after buying an additional 62,874 shares during the period. Alphabet comprises about 8.9% of Accent Capital Management LLC’s portfolio, making the stock its 4th biggest holding. Accent Capital Management LLC’s holdings in Alphabet were worth $15,410,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GOOG. Atlanta Consulting Group Advisors LLC grew its holdings in Alphabet by 35.3% during the 3rd quarter. Atlanta Consulting Group Advisors LLC now owns 16,197 shares of the information services provider’s stock valued at $2,708,000 after buying an additional 4,223 shares in the last quarter. Frazier Financial Advisors LLC grew its holdings in Alphabet by 8.4% during the 3rd quarter. Frazier Financial Advisors LLC now owns 1,376 shares of the information services provider’s stock valued at $230,000 after buying an additional 107 shares in the last quarter. GoalVest Advisory LLC grew its holdings in Alphabet by 22.5% during the 3rd quarter. GoalVest Advisory LLC now owns 1,411 shares of the information services provider’s stock valued at $236,000 after buying an additional 259 shares in the last quarter. Accredited Investors Inc. grew its holdings in Alphabet by 1.0% during the 3rd quarter. Accredited Investors Inc. now owns 29,246 shares of the information services provider’s stock valued at $4,890,000 after buying an additional 302 shares in the last quarter. Finally, Schneider Downs Wealth Management Advisors LP grew its holdings in Alphabet by 41.8% during the 3rd quarter. Schneider Downs Wealth Management Advisors LP now owns 4,941 shares of the information services provider’s stock valued at $826,000 after buying an additional 1,457 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.

Insider Transactions at Alphabet

In other news, Director Kavitark Ram Shriram sold 10,500 shares of the business’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $177.41, for a total value of $1,862,805.00. Following the completion of the transaction, the director now directly owns 319,966 shares of the company’s stock, valued at approximately $56,765,168.06. The trade was a 3.18 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $167.66, for a total value of $3,772,350.00. Following the completion of the transaction, the chief executive officer now directly owns 2,159,885 shares of the company’s stock, valued at approximately $362,126,319.10. The trade was a 1.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 206,795 shares of company stock valued at $34,471,141. Corporate insiders own 12.99% of the company’s stock.

Alphabet Trading Down 2.0 %

Shares of NASDAQ GOOG opened at $173.89 on Friday. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The business has a fifty day simple moving average of $167.01 and a two-hundred day simple moving average of $171.70. The firm has a market cap of $2.13 trillion, a PE ratio of 23.06, a price-to-earnings-growth ratio of 1.22 and a beta of 1.04. Alphabet Inc. has a twelve month low of $129.40 and a twelve month high of $193.31.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The business had revenue of $88.27 billion during the quarter, compared to analyst estimates of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. Alphabet’s revenue was up 15.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.55 EPS. Analysts expect that Alphabet Inc. will post 7.99 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.46%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s payout ratio is 10.61%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on GOOG shares. DA Davidson upgraded Alphabet to a “hold” rating in a report on Tuesday, September 10th. Scotiabank started coverage on Alphabet in a report on Friday, October 11th. They issued a “sector outperform” rating and a $212.00 target price for the company. Wells Fargo & Company lifted their target price on Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Cantor Fitzgerald upgraded Alphabet to a “hold” rating in a report on Thursday, September 5th. Finally, Canaccord Genuity Group lifted their target price on Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Five analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $200.56.

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, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.