Accredited Wealth Management LLC Takes $521,000 Position in Alphabet Inc. (NASDAQ:GOOGL)

Accredited Wealth Management LLC acquired a new stake in Alphabet Inc. (NASDAQ:GOOGL) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 2,750 shares of the information services provider’s stock, valued at approximately $521,000.

Several other hedge funds also recently bought and sold shares of the company. Optivise Advisory Services LLC lifted its holdings in shares of Alphabet by 8.0% during the 4th quarter. Optivise Advisory Services LLC now owns 5,464 shares of the information services provider’s stock worth $1,035,000 after acquiring an additional 403 shares during the last quarter. Community Bank N.A. lifted its stake in Alphabet by 6.4% during the fourth quarter. Community Bank N.A. now owns 46,173 shares of the information services provider’s stock worth $8,741,000 after purchasing an additional 2,790 shares during the last quarter. Premier Fund Managers Ltd boosted its holdings in shares of Alphabet by 30.0% in the 4th quarter. Premier Fund Managers Ltd now owns 61,792 shares of the information services provider’s stock worth $11,816,000 after purchasing an additional 14,262 shares in the last quarter. Absolute Capital Management LLC increased its position in shares of Alphabet by 14.0% during the 4th quarter. Absolute Capital Management LLC now owns 2,096 shares of the information services provider’s stock valued at $401,000 after purchasing an additional 258 shares during the last quarter. Finally, Permanent Capital Management LP bought a new stake in Alphabet in the 4th quarter worth approximately $273,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on GOOGL. Wedbush set a $190.00 price target on shares of Alphabet and gave the stock an “outperform” rating in a research note on Tuesday, April 15th. Jefferies Financial Group lowered their price target on shares of Alphabet from $235.00 to $200.00 and set a “buy” rating for the company in a research note on Monday, March 31st. Morgan Stanley reduced their price objective on Alphabet from $210.00 to $185.00 and set an “overweight” rating on the stock in a research note on Thursday, April 17th. Mizuho lowered their target price on Alphabet from $230.00 to $205.00 and set an “outperform” rating for the company in a research note on Wednesday, April 9th. Finally, Bank of America raised their price target on Alphabet from $185.00 to $200.00 and gave the stock a “buy” rating in a research report on Friday, April 25th. Ten equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and five have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $199.46.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $156.16, for a total value of $5,075,200.00. Following the completion of the transaction, the chief executive officer now owns 2,685,196 shares in the company, valued at $419,320,207.36. The trade was a 1.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Amie Thuener O’toole sold 1,340 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $202.08, for a total value of $270,787.20. Following the transaction, the chief accounting officer now directly owns 17,848 shares in the company, valued at approximately $3,606,723.84. The trade was a 6.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 148,164 shares of company stock valued at $25,357,390 in the last quarter. 11.55% of the stock is owned by insiders.

Alphabet Stock Up 1.7 %

Shares of Alphabet stock opened at $164.03 on Friday. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $207.05. The firm has a market cap of $2.00 trillion, a price-to-earnings ratio of 20.38, a PEG ratio of 1.34 and a beta of 1.03. The company has a 50-day moving average of $160.19 and a 200 day moving average of $175.34. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating analysts’ consensus estimates of $2.02 by $0.79. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. The business had revenue of $76.49 billion during the quarter, compared to the consensus estimate of $89.30 billion. During the same quarter last year, the firm earned $1.89 earnings per share. As a group, sell-side analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, June 9th. This is an increase from Alphabet’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 0.51%. Alphabet’s dividend payout ratio (DPR) is presently 9.36%.

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.