Axxcess Wealth Management LLC Has $36.31 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Axxcess Wealth Management LLC grew its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 10.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 203,376 shares of the information services provider’s stock after purchasing an additional 19,961 shares during the period. Alphabet makes up 1.0% of Axxcess Wealth Management LLC’s investment portfolio, making the stock its 19th biggest holding. Axxcess Wealth Management LLC’s holdings in Alphabet were worth $36,306,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in GOOGL. Perennial Investment Advisors LLC grew its position in Alphabet by 5.2% in the 2nd quarter. Perennial Investment Advisors LLC now owns 22,699 shares of the information services provider’s stock valued at $4,135,000 after purchasing an additional 1,126 shares during the period. Pitti Group Wealth Management LLC grew its holdings in shares of Alphabet by 0.7% during the second quarter. Pitti Group Wealth Management LLC now owns 11,088 shares of the information services provider’s stock valued at $2,020,000 after buying an additional 76 shares during the last quarter. Clearstead Trust LLC increased its position in shares of Alphabet by 3.1% during the second quarter. Clearstead Trust LLC now owns 51,858 shares of the information services provider’s stock worth $9,446,000 after acquiring an additional 1,581 shares in the last quarter. Tower Wealth Partners Inc. acquired a new stake in shares of Alphabet in the 2nd quarter worth about $270,000. Finally, Virtu Financial LLC raised its holdings in shares of Alphabet by 42.1% in the 2nd quarter. Virtu Financial LLC now owns 1,521,936 shares of the information services provider’s stock worth $277,221,000 after acquiring an additional 451,095 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Alphabet Stock Performance

Shares of GOOGL stock opened at $166.99 on Wednesday. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. The company’s fifty day moving average price is $162.22 and its 200-day moving average price is $167.02. The stock has a market cap of $2.06 trillion, a PE ratio of 25.61, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04. Alphabet Inc. has a 12 month low of $120.21 and a 12 month high of $191.75.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The business had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $70.60 billion. During the same quarter in the prior year, the company earned $1.44 earnings per share. On average, equities analysts expect that Alphabet Inc. will post 7.63 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date of this dividend was Monday, September 9th. Alphabet’s payout ratio is 12.27%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Loop Capital reissued a “hold” rating and issued a $170.00 price target on shares of Alphabet in a research report on Wednesday, July 3rd. BMO Capital Markets reiterated an “outperform” rating and issued a $222.00 price objective on shares of Alphabet in a research note on Monday, September 16th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $190.00 price objective on shares of Alphabet in a research note on Monday. Roth Mkm reissued a “buy” rating and set a $206.00 price objective on shares of Alphabet in a report on Thursday, August 29th. Finally, Royal Bank of Canada upped their price objective on Alphabet from $200.00 to $204.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Eight research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $201.35.

Insiders Place Their Bets

In other news, insider John Kent Walker sold 16,802 shares of Alphabet stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $165.47, for a total value of $2,780,226.94. Following the completion of the transaction, the insider now owns 43,999 shares of the company’s stock, valued at approximately $7,280,514.53. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CAO Amie Thuener O’toole sold 2,835 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total transaction of $429,587.55. Following the completion of the sale, the chief accounting officer now owns 29,182 shares in the company, valued at $4,421,948.46. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider John Kent Walker sold 16,802 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $165.47, for a total transaction of $2,780,226.94. Following the completion of the transaction, the insider now directly owns 43,999 shares in the company, valued at approximately $7,280,514.53. The disclosure for this sale can be found here. Over the last three months, insiders have sold 193,725 shares of company stock valued at $31,933,031. 11.55% of the stock is currently owned by corporate insiders.

About Alphabet

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.