Access Financial Services Inc. Has $459,000 Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Access Financial Services Inc. grew its position in Alphabet Inc. (NASDAQ:GOOG) by 4.4% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 2,938 shares of the information services provider’s stock after buying an additional 125 shares during the period. Access Financial Services Inc.’s holdings in Alphabet were worth $459,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in GOOG. Principia Wealth Advisory LLC increased its stake in shares of Alphabet by 111.8% in the 1st quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider’s stock valued at $26,000 after buying an additional 85 shares during the period. LSV Asset Management bought a new position in shares of Alphabet in the 4th quarter worth $27,000. WealthTrak Capital Management LLC bought a new position in shares of Alphabet in the 4th quarter worth $38,000. Mountain Hill Investment Partners Corp. bought a new position in shares of Alphabet in the 4th quarter worth $39,000. Finally, Noble Wealth Management PBC bought a new position in shares of Alphabet in the 4th quarter worth $43,000. 27.26% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

GOOG has been the topic of several recent research reports. The Goldman Sachs Group restated a “buy” rating and issued a $220.00 price target on shares of Alphabet in a research report on Monday, June 2nd. Tigress Financial restated a “strong-buy” rating on shares of Alphabet in a research report on Friday, May 2nd. KeyCorp reduced their price target on Alphabet from $202.00 to $185.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 9th. Cantor Fitzgerald restated a “neutral” rating and issued a $171.00 price target on shares of Alphabet in a research report on Friday, April 25th. Finally, Citigroup reiterated a “sell” rating on shares of Alphabet in a report on Wednesday, April 23rd. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have given a buy rating and five have given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $204.88.

Alphabet Stock Performance

GOOG opened at $175.88 on Monday. The business’s 50-day moving average price is $164.57 and its two-hundred day moving average price is $176.38. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $208.70. The company has a market capitalization of $2.13 trillion, a price-to-earnings ratio of 21.85, a P/E/G ratio of 1.34 and a beta of 1.01. 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:GOOG) last released its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.02 by $0.79. The business had revenue of $90.23 billion for the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Alphabet’s quarterly revenue was up 12.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.89 earnings per share. Equities analysts expect that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be given a $0.21 dividend. The ex-dividend date is Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.48%. This is an increase from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s payout ratio is currently 9.36%.

Insider Activity at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of the business’s stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $1,837,500.00. Following the transaction, the director now owns 261,966 shares of the company’s stock, valued at $45,844,050. The trade was a 3.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $168.71, for a total value of $5,483,075.00. Following the transaction, the chief executive officer now directly owns 2,587,696 shares in the company, valued at approximately $436,570,192.16. This trade represents a 1.24% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 195,570 shares of company stock valued at $32,003,532. 12.99% of the stock is owned by 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.