Accretive Wealth Partners LLC Has $2.89 Million Holdings in Alphabet Inc. (NASDAQ:GOOG)

Accretive Wealth Partners LLC trimmed its stake in Alphabet Inc. (NASDAQ:GOOG) by 1.4% in the third quarter, HoldingsChannel.com reports. The firm owned 17,295 shares of the information services provider’s stock after selling 241 shares during the period. Alphabet accounts for about 1.2% of Accretive Wealth Partners LLC’s investment portfolio, making the stock its 18th largest holding. Accretive Wealth Partners LLC’s holdings in Alphabet were worth $2,892,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Abich Financial Wealth Management LLC raised its stake in Alphabet by 9,200.0% during the second quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock worth $34,000 after buying an additional 184 shares during the last quarter. 1620 Investment Advisors Inc. bought a new position in shares of Alphabet in the 2nd quarter worth about $37,000. HWG Holdings LP acquired a new position in shares of Alphabet in the 2nd quarter valued at about $40,000. Sanctuary Wealth Management L.L.C. boosted its position in shares of Alphabet by 87.3% during the 3rd quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock valued at $42,000 after purchasing an additional 117 shares in the last quarter. Finally, Slocum Gordon & Co LLP acquired a new stake in Alphabet during the second quarter worth approximately $44,000. 27.26% of the stock is owned by institutional investors.

Alphabet Trading Down 4.4 %

Shares of NASDAQ:GOOG opened at $169.49 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. Alphabet Inc. has a 1 year low of $129.40 and a 1 year high of $193.31. The company has a market cap of $2.07 trillion, a P/E ratio of 22.48, a PEG ratio of 1.26 and a beta of 1.04. The stock’s fifty day moving average price is $168.93 and its 200-day moving average price is $171.90.

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

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be paid a $0.20 dividend. The ex-dividend date is Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.47%. Alphabet’s dividend payout ratio (DPR) is 10.61%.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 2,835 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total transaction of $429,587.55. Following the completion of the transaction, the chief accounting officer now directly owns 29,182 shares of the company’s stock, valued at approximately $4,421,948.46. This trade represents a 8.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Kavitark Ram Shriram sold 10,500 shares of the business’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the completion of the sale, the director now owns 330,466 shares in the company, valued at approximately $59,741,643.48. The trade was a 3.08 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 206,795 shares of company stock valued at $34,673,866. 12.99% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts have recently commented on GOOG shares. Wells Fargo & Company raised their price objective on shares of Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Oppenheimer raised their price target on shares of Alphabet from $185.00 to $215.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Jefferies Financial Group upped their price objective on shares of Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. DA Davidson upgraded Alphabet to a “hold” rating in a research note on Tuesday, September 10th. Finally, Barclays boosted their target price on Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Five analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $200.56.

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.