Axxcess Wealth Management LLC Grows Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Axxcess Wealth Management LLC grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 120,789 shares of the information services provider’s stock after purchasing an additional 1,157 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Alphabet were worth $22,274,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Weiss Asset Management LP purchased a new stake in shares of Alphabet during the third quarter valued at $25,000. Fiduciary Advisors Inc. acquired a new position in shares of Alphabet during the fourth quarter valued at about $27,000. Safe Harbor Fiduciary LLC acquired a new position in shares of Alphabet during the third quarter valued at about $33,000. Noble Wealth Management PBC acquired a new position in shares of Alphabet during the fourth quarter valued at about $43,000. Finally, FPC Investment Advisory Inc. boosted its position in Alphabet by 287.9% in the fourth quarter. FPC Investment Advisory Inc. now owns 225 shares of the information services provider’s stock valued at $46,000 after buying an additional 167 shares during the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Down 0.6 %

Shares of Alphabet stock opened at $166.57 on Tuesday. Alphabet Inc. has a twelve month low of $147.01 and a twelve month high of $208.70. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $2.03 trillion, a price-to-earnings ratio of 20.69, a PEG ratio of 1.34 and a beta of 1.03. The business’s 50 day simple moving average is $186.78 and its 200-day simple moving average is $178.12.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Equities research analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.48%. Alphabet’s dividend payout ratio is 9.94%.

Insider Buying and Selling

In related news, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $165.53, for a total transaction of $33,106.00. Following the transaction, the director now directly owns 7,813 shares in the company, valued at $1,293,285.89. The trade was a 2.50 % 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, CAO Amie Thuener O’toole sold 1,368 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $191.55, for a total value of $262,040.40. Following the completion of the sale, the chief accounting officer now owns 20,681 shares in the company, valued at approximately $3,961,445.55. This represents a 6.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 93,048 shares of company stock worth $17,374,274. Corporate insiders own 12.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on GOOG. Scotiabank upped their price objective on Alphabet from $212.00 to $240.00 and gave the stock a “sector outperform” rating in a research report on Friday, January 24th. Needham & Company LLC reaffirmed a “buy” rating on shares of Alphabet in a research note on Wednesday, February 5th. Oppenheimer raised their target price on Alphabet from $215.00 to $225.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Benchmark reiterated a “negative” rating on shares of Alphabet in a report on Wednesday, February 5th. Finally, Morgan Stanley restated an “overweight” rating on shares of Alphabet in a report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $209.13.

Alphabet Company 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.