Acima Private Wealth LLC Sells 251 Shares of Alphabet Inc. (NASDAQ:GOOG)

Acima Private Wealth LLC reduced its stake in Alphabet Inc. (NASDAQ:GOOG) by 8.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,873 shares of the information services provider’s stock after selling 251 shares during the period. Acima Private Wealth LLC’s holdings in Alphabet were worth $449,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Brighton Jones LLC raised its stake in Alphabet by 5.6% in the fourth quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider’s stock valued at $22,901,000 after purchasing an additional 6,410 shares in the last quarter. Bank Pictet & Cie Europe AG boosted its position in Alphabet by 4.3% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 506,535 shares of the information services provider’s stock valued at $96,465,000 after buying an additional 20,855 shares during the period. Wellspring Financial Advisors LLC boosted its holdings in Alphabet by 3.7% during the 4th quarter. Wellspring Financial Advisors LLC now owns 12,188 shares of the information services provider’s stock valued at $2,322,000 after acquiring an additional 435 shares during the period. Concentrum Wealth Management grew its holdings in shares of Alphabet by 0.3% in the fourth quarter. Concentrum Wealth Management now owns 17,328 shares of the information services provider’s stock worth $3,300,000 after purchasing an additional 57 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in Alphabet by 5.0% in the 4th quarter. Invesco Ltd. now owns 19,939,547 shares of the information services provider’s stock worth $3,797,287,000 after acquiring an additional 944,858 shares during the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Oppenheimer reiterated an “outperform” rating and issued a $235.00 price objective (up from $220.00) on shares of Alphabet in a research report on Thursday, July 24th. Rosenblatt Securities upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a report on Friday, April 25th. Lake Street Capital restated a “buy” rating on shares of Alphabet in a report on Wednesday, July 9th. KeyCorp decreased their price objective on shares of Alphabet from $202.00 to $185.00 and set an “overweight” rating for the company in a report on Wednesday, April 9th. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $171.00 target price on shares of Alphabet in a research note on Friday, April 25th. Three analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have issued a buy rating and five have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $215.19.

Alphabet Stock Performance

GOOG opened at $195.75 on Tuesday. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $208.70. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The company has a fifty day moving average of $179.89 and a 200 day moving average of $174.38. The stock has a market capitalization of $2.37 trillion, a price-to-earnings ratio of 20.85, a PEG ratio of 1.26 and a beta of 1.02.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.19. The company had revenue of $96.43 billion for the quarter, compared to analysts’ expectations of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. Alphabet’s quarterly revenue was up 13.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.89 earnings per share. As a group, sell-side analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Monday, September 8th. Alphabet’s payout ratio is 8.95%.

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total transaction of $5,801,900.00. Following the completion of the transaction, the chief executive officer owned 2,559,892 shares in the company, valued at $456,991,919.84. The trade was a 1.25% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kavitark Ram Shriram sold 18,566 shares of the company’s stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the completion of the transaction, the director owned 243,400 shares in the company, valued at approximately $45,213,984. The trade was a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 249,399 shares of company stock valued at $43,525,794 in the last 90 days. Company insiders own 12.99% of the company’s stock.

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.