Accurate Wealth Management LLC Purchases 138 Shares of Alphabet Inc. (NASDAQ:GOOG)

Accurate Wealth Management LLC increased its position in Alphabet Inc. (NASDAQ:GOOG) by 1.1% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 12,360 shares of the information services provider’s stock after buying an additional 138 shares during the quarter. Accurate Wealth Management LLC’s holdings in Alphabet were worth $1,968,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. LSV Asset Management purchased a new stake in shares of Alphabet during the fourth quarter worth about $27,000. Principia Wealth Advisory LLC lifted its holdings in Alphabet by 111.8% in the 1st quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider’s stock worth $26,000 after purchasing an additional 85 shares in the last quarter. WealthTrak Capital Management LLC bought a new position in Alphabet in the 4th quarter worth approximately $38,000. Mountain Hill Investment Partners Corp. purchased a new stake in Alphabet during the 4th quarter valued at approximately $39,000. Finally, Noble Wealth Management PBC bought a new stake in shares of Alphabet during the fourth quarter valued at approximately $43,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on GOOG shares. Scotiabank cut their target price on shares of Alphabet from $232.00 to $200.00 and set a “sector outperform” rating for the company in a research note on Monday, April 21st. Tigress Financial restated a “strong-buy” rating on shares of Alphabet in a research report on Friday, May 2nd. KeyCorp lowered their price objective on shares of Alphabet from $202.00 to $185.00 and set an “overweight” rating for the company in a research report on Wednesday, April 9th. UBS Group reduced their target price on shares of Alphabet from $209.00 to $173.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $171.00 target price on shares of Alphabet in a research report on Friday, April 25th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have issued a buy rating and five have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $204.88.

Insider Buying and Selling

In other news, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $165.53, for a total value of $33,106.00. Following the completion of the sale, the director now owns 7,813 shares in the company, valued at approximately $1,293,285.89. The trade was a 2.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 673 shares of the company’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total transaction of $104,537.09. Following the completion of the sale, the chief accounting officer now directly owns 15,303 shares of the company’s stock, valued at $2,377,014.99. The trade was a 4.21% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 195,770 shares of company stock valued at $32,036,638 over the last quarter. 12.99% of the stock is owned by corporate insiders.

Alphabet Trading Up 1.5%

NASDAQ GOOG opened at $177.63 on Tuesday. The stock has a market cap of $2.16 trillion, a PE ratio of 22.07, a PEG ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $208.70. The company’s 50-day moving average price is $162.26 and its 200-day moving average price is $176.17. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.79. The company had revenue of $90.23 billion during the quarter, compared to analysts’ expectations of $89.30 billion. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. The firm’s quarterly revenue was up 12.0% on a year-over-year basis. During the same period in the previous year, the company earned $1.89 EPS. Equities research analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be issued a $0.21 dividend. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.47%. Alphabet’s payout ratio 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.