Accretive Wealth Partners LLC Purchases 232 Shares of Alphabet Inc. $GOOG

Accretive Wealth Partners LLC lifted its position in Alphabet Inc. (NASDAQ:GOOG) by 1.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,813 shares of the information services provider’s stock after purchasing an additional 232 shares during the quarter. Alphabet comprises about 1.2% of Accretive Wealth Partners LLC’s investment portfolio, making the stock its 17th biggest position. Accretive Wealth Partners LLC’s holdings in Alphabet were worth $3,515,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. RDA Financial Network increased its holdings in shares of Alphabet by 5.3% in the second quarter. RDA Financial Network now owns 11,094 shares of the information services provider’s stock worth $1,968,000 after purchasing an additional 554 shares during the last quarter. Oldfather Financial Services LLC bought a new stake in shares of Alphabet in the second quarter worth about $213,000. Tower View Wealth Management LLC increased its holdings in shares of Alphabet by 6.9% in the second quarter. Tower View Wealth Management LLC now owns 27,644 shares of the information services provider’s stock worth $4,904,000 after purchasing an additional 1,776 shares during the last quarter. Dock Street Asset Management Inc. increased its holdings in shares of Alphabet by 0.8% in the second quarter. Dock Street Asset Management Inc. now owns 234,306 shares of the information services provider’s stock worth $41,563,000 after purchasing an additional 1,970 shares during the last quarter. Finally, Truist Financial Corp increased its holdings in shares of Alphabet by 0.4% in the second quarter. Truist Financial Corp now owns 3,626,927 shares of the information services provider’s stock worth $643,381,000 after purchasing an additional 15,065 shares during the last quarter. 27.26% of the stock is owned by institutional investors.

Alphabet Stock Up 0.5%

Shares of NASDAQ:GOOG opened at $252.53 on Thursday. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $257.88. The business has a 50 day simple moving average of $235.22 and a two-hundred day simple moving average of $194.81. The firm has a market capitalization of $3.05 trillion, a PE ratio of 26.89, a price-to-earnings-growth ratio of 1.70 and a beta of 1.00. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.19. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The business had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.67 billion. During the same quarter in the previous year, the business earned $1.89 earnings per share. The company’s revenue for the quarter was up 13.8% compared to the same quarter last year. On average, equities analysts predict that Alphabet Inc. will post 8.89 EPS for the current year.

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $249.50, for a total transaction of $8,108,750.00. Following the completion of the transaction, the chief executive officer owned 2,397,392 shares in the company, valued at $598,149,304. The trade was a 1.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Amie Thuener O’toole sold 2,778 shares of the business’s stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $245.00, for a total value of $680,610.00. Following the transaction, the chief accounting officer owned 17,293 shares of the company’s stock, valued at $4,236,785. This trade represents a 13.84% decrease in their position. The disclosure for this sale can be found here. Insiders sold 246,150 shares of company stock worth $55,805,379 over the last 90 days. Company insiders own 12.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on GOOG. Lake Street Capital reiterated a “buy” rating on shares of Alphabet in a research report on Wednesday, July 9th. KeyCorp set a $265.00 price target on Alphabet in a research report on Wednesday, September 3rd. Hsbc Global Res upgraded Alphabet to a “strong-buy” rating in a research report on Tuesday, October 7th. Phillip Securities lowered Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research report on Monday, September 8th. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $210.00 price target (up previously from $185.00) on shares of Alphabet in a research report on Thursday, July 24th. Six analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $246.26.

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.