Belpointe Asset Management LLC Sells 85 Shares of Accenture plc (NYSE:ACN)

Belpointe Asset Management LLC reduced its position in shares of Accenture plc (NYSE:ACN) by 3.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,185 shares of the information technology services provider’s stock after selling 85 shares during the quarter. Belpointe Asset Management LLC’s holdings in Accenture were worth $747,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in ACN. Baldwin Wealth Partners LLC MA raised its stake in shares of Accenture by 6.5% during the fourth quarter. Baldwin Wealth Partners LLC MA now owns 63,429 shares of the information technology services provider’s stock valued at $22,314,000 after acquiring an additional 3,883 shares during the last quarter. Davidson Trust Co. raised its position in Accenture by 7.4% during the 4th quarter. Davidson Trust Co. now owns 2,307 shares of the information technology services provider’s stock valued at $812,000 after purchasing an additional 158 shares during the last quarter. Franklin Street Advisors Inc. NC lifted its holdings in Accenture by 126.8% in the 4th quarter. Franklin Street Advisors Inc. NC now owns 40,051 shares of the information technology services provider’s stock worth $14,090,000 after buying an additional 22,391 shares during the period. China Universal Asset Management Co. Ltd. grew its position in shares of Accenture by 37.5% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 3,094 shares of the information technology services provider’s stock worth $1,088,000 after buying an additional 843 shares during the last quarter. Finally, SteelPeak Wealth LLC raised its holdings in shares of Accenture by 127.1% during the fourth quarter. SteelPeak Wealth LLC now owns 2,323 shares of the information technology services provider’s stock valued at $817,000 after acquiring an additional 1,300 shares in the last quarter. Hedge funds and other institutional investors own 75.14% of the company’s stock.

Insiders Place Their Bets

In related news, insider Angela Beatty sold 169 shares of Accenture stock in a transaction on Friday, April 11th. The stock was sold at an average price of $281.90, for a total value of $47,641.10. Following the completion of the sale, the insider now owns 5,364 shares of the company’s stock, valued at $1,512,111.60. The trade was a 3.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Julie Spellman Sweet sold 8,793 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $394.47, for a total value of $3,468,574.71. Following the completion of the transaction, the chief executive officer now directly owns 11,858 shares in the company, valued at $4,677,625.26. The trade was a 42.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 27,921 shares of company stock valued at $9,876,619. Company insiders own 0.02% of the company’s stock.

Accenture Stock Performance

Shares of ACN opened at $288.58 on Wednesday. The company has a market cap of $180.75 billion, a price-to-earnings ratio of 24.21, a P/E/G ratio of 3.23 and a beta of 1.32. The business’s fifty day simple moving average is $332.48 and its two-hundred day simple moving average is $351.15. Accenture plc has a 12 month low of $275.01 and a 12 month high of $398.35. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.17.

Accenture (NYSE:ACN) last released its quarterly earnings data on Thursday, March 20th. The information technology services provider reported $2.82 EPS for the quarter, beating the consensus estimate of $2.81 by $0.01. Accenture had a return on equity of 26.91% and a net margin of 11.41%. The company had revenue of $16.70 billion for the quarter, compared to analysts’ expectations of $16.64 billion. During the same period last year, the firm posted $2.77 earnings per share. Accenture’s revenue was up 5.7% compared to the same quarter last year. Research analysts anticipate that Accenture plc will post 12.73 earnings per share for the current fiscal year.

Accenture Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, April 10th will be issued a $1.48 dividend. This represents a $5.92 annualized dividend and a yield of 2.05%. The ex-dividend date of this dividend is Thursday, April 10th. Accenture’s dividend payout ratio is currently 48.89%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Barclays reduced their price objective on shares of Accenture from $415.00 to $390.00 and set an “overweight” rating on the stock in a research report on Monday, March 24th. Guggenheim decreased their price target on shares of Accenture from $400.00 to $395.00 and set a “buy” rating for the company in a research note on Friday, March 21st. Stifel Nicolaus cut their price objective on Accenture from $390.00 to $380.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. BMO Capital Markets increased their target price on Accenture to $355.00 and gave the stock a “hold” rating in a research report on Wednesday, March 26th. Finally, Mizuho reduced their price target on Accenture from $428.00 to $398.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 19th. Eight equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $378.23.

About Accenture

Accenture plc, a professional services company, provides strategy and consulting, industry X, song, and technology and operation services worldwide. The company offers application services, including agile transformation, DevOps, application modernization, enterprise architecture, software and quality engineering, data management; intelligent automation comprising robotic process automation, natural language processing, and virtual agents; and application management services, as well as software engineering services; strategy and consulting services; data and analytics strategy, data discovery and augmentation, data management and beyond, data democratization, and industrialized solutions comprising turnkey analytics and artificial intelligence (AI) solutions; metaverse; and sustainability services.