Accelerate Investment Advisors LLC Boosts Stock Holdings in Alphabet Inc. $GOOG

Accelerate Investment Advisors LLC lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 5.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,180 shares of the information services provider’s stock after acquiring an additional 169 shares during the quarter. Accelerate Investment Advisors LLC’s holdings in Alphabet were worth $564,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Capital Asset Advisory Services LLC increased its position in shares of Alphabet by 0.9% during the second quarter. Capital Asset Advisory Services LLC now owns 49,255 shares of the information services provider’s stock worth $8,714,000 after acquiring an additional 454 shares during the period. Wesbanco Bank Inc. increased its holdings in Alphabet by 1.9% in the second quarter. Wesbanco Bank Inc. now owns 80,256 shares of the information services provider’s stock valued at $14,237,000 after buying an additional 1,468 shares during the last quarter. Verde Capital Management raised its stake in Alphabet by 5.0% in the second quarter. Verde Capital Management now owns 20,650 shares of the information services provider’s stock valued at $3,663,000 after buying an additional 984 shares in the last quarter. Osprey Private Wealth LLC raised its stake in Alphabet by 1.6% in the second quarter. Osprey Private Wealth LLC now owns 58,020 shares of the information services provider’s stock valued at $10,476,000 after buying an additional 900 shares in the last quarter. Finally, Modus Advisors LLC raised its stake in Alphabet by 0.6% in the second quarter. Modus Advisors LLC now owns 39,927 shares of the information services provider’s stock valued at $7,083,000 after buying an additional 254 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Buying and Selling at Alphabet

In other news, insider John Kent Walker sold 23,820 shares of the stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the sale, the insider owned 42,999 shares in the company, valued at approximately $8,371,905.30. This represents a 35.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $229.73, for a total transaction of $7,466,225.00. Following the sale, the chief executive officer owned 2,429,892 shares of the company’s stock, valued at $558,219,089.16. This trade represents a 1.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 254,710 shares of company stock worth $49,208,380 over the last three months. 12.99% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Roth Capital restated a “buy” rating on shares of Alphabet in a research note on Wednesday, July 9th. UBS Group raised their price target on Alphabet from $186.00 to $192.00 and gave the company a “neutral” rating in a research note on Wednesday, July 16th. Barclays restated a “buy” rating on shares of Alphabet in a research note on Wednesday, July 9th. Citizens Jmp upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Thursday, June 26th. Finally, Raymond James Financial restated an “outperform” rating and issued a $210.00 price target (up from $185.00) on shares of Alphabet in a research note on Thursday, July 24th. Four analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $227.56.

Alphabet Stock Performance

Shares of GOOG stock opened at $241.38 on Friday. The stock’s 50-day moving average is $202.67 and its two-hundred day moving average is $178.86. The firm has a market cap of $2.92 trillion, a price-to-earnings ratio of 25.71, a PEG ratio of 1.62 and a beta of 1.01. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $242.57. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) 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 analyst estimates of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The business’s quarterly revenue was up 13.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.89 earnings per share. Analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be paid a dividend of $0.21 per share. The ex-dividend date is Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. Alphabet’s dividend payout ratio is 8.95%.

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.