Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC decreased its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 6.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 190,445 shares of the information services provider’s stock after selling 12,931 shares during the period. Alphabet accounts for approximately 0.8% of Axxcess Wealth Management LLC’s portfolio, making the stock its 28th biggest holding. Axxcess Wealth Management LLC’s holdings in Alphabet were worth $30,961,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Guerra Pan Advisors LLC increased its stake in Alphabet by 4.0% in the 3rd quarter. Guerra Pan Advisors LLC now owns 28,262 shares of the information services provider’s stock valued at $4,687,000 after buying an additional 1,084 shares during the period. Eagle Bluffs Wealth Management LLC boosted its stake in shares of Alphabet by 1.4% during the 3rd quarter. Eagle Bluffs Wealth Management LLC now owns 19,844 shares of the information services provider’s stock worth $3,291,000 after acquiring an additional 274 shares in the last quarter. Costello Asset Management INC increased its stake in Alphabet by 0.9% in the 3rd quarter. Costello Asset Management INC now owns 30,638 shares of the information services provider’s stock valued at $5,081,000 after purchasing an additional 267 shares in the last quarter. Rocky Mountain Advisers LLC raised its holdings in Alphabet by 33.2% during the third quarter. Rocky Mountain Advisers LLC now owns 3,210 shares of the information services provider’s stock worth $532,000 after purchasing an additional 800 shares during the last quarter. Finally, 17 Capital Partners LLC boosted its position in Alphabet by 4.2% during the third quarter. 17 Capital Partners LLC now owns 19,985 shares of the information services provider’s stock worth $3,315,000 after purchasing an additional 800 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total transaction of $109,420.08. Following the completion of the transaction, the chief accounting officer now directly owns 32,017 shares in the company, valued at approximately $5,136,807.48. This trade represents a 2.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $158.68, for a total transaction of $3,570,300.00. Following the transaction, the chief executive officer now owns 2,137,385 shares of the company’s stock, valued at $339,160,251.80. The trade was a 1.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 206,795 shares of company stock valued at $34,673,866 over the last three months. 11.55% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Pivotal Research raised their target price on shares of Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. DA Davidson assumed coverage on Alphabet in a research report on Tuesday, September 10th. They set a “neutral” rating and a $170.00 price objective for the company. Roth Mkm increased their target price on Alphabet from $206.00 to $212.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Seaport Res Ptn raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Finally, Morgan Stanley lifted their price target on shares of Alphabet from $190.00 to $205.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Seven research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $205.90.

Alphabet Stock Performance

Shares of NASDAQ GOOGL opened at $164.76 on Monday. Alphabet Inc. has a one year low of $127.90 and a one year high of $191.75. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The business has a fifty day simple moving average of $167.64 and a 200 day simple moving average of $170.36. The firm has a market capitalization of $2.02 trillion, a price-to-earnings ratio of 21.85, a PEG ratio of 1.19 and a beta of 1.03.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating the consensus estimate of $1.83 by $0.29. The business had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same period in the prior year, the firm earned $1.55 earnings per share. Sell-side analysts expect that Alphabet Inc. will post 8.01 EPS for the current 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 paid a $0.20 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.49%. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

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.