Accelerate Investment Advisors LLC Raises Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Accelerate Investment Advisors LLC lifted its stake in Alphabet Inc. (NASDAQ:GOOGL) by 3.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,736 shares of the information services provider’s stock after buying an additional 87 shares during the period. Accelerate Investment Advisors LLC’s holdings in Alphabet were worth $518,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Lantz Financial LLC grew its position in Alphabet by 10.8% during the 2nd quarter. Lantz Financial LLC now owns 4,622 shares of the information services provider’s stock worth $842,000 after purchasing an additional 452 shares during the last quarter. Spectrum Wealth Advisory Group LLC acquired a new position in Alphabet in the 2nd quarter valued at about $218,000. Vance Wealth Inc. raised its stake in Alphabet by 4.0% during the 2nd quarter. Vance Wealth Inc. now owns 3,089 shares of the information services provider’s stock valued at $563,000 after acquiring an additional 119 shares during the last quarter. Private Wealth Strategies L.L.C. lifted its position in Alphabet by 3.4% during the 2nd quarter. Private Wealth Strategies L.L.C. now owns 2,800 shares of the information services provider’s stock worth $510,000 after acquiring an additional 93 shares during the period. Finally, Primoris Wealth Advisors LLC grew its stake in shares of Alphabet by 36.9% in the 2nd quarter. Primoris Wealth Advisors LLC now owns 6,585 shares of the information services provider’s stock valued at $1,199,000 after purchasing an additional 1,775 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $191.01 on Tuesday. The company has a market cap of $2.34 trillion, a P/E ratio of 25.33, a P/E/G ratio of 1.35 and a beta of 0.98. The business has a fifty day simple moving average of $183.05 and a 200-day simple moving average of $172.99. Alphabet Inc. has a 52 week low of $130.66 and a 52 week high of $201.42. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating the consensus estimate of $1.83 by $0.29. The company had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same quarter in the previous year, the business earned $1.55 EPS. Equities research analysts forecast that Alphabet Inc. will post 8.01 EPS for the current year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 9th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date was Monday, December 9th. Alphabet’s dividend payout ratio is currently 10.61%.

Insider Buying and Selling at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $166.30, for a total value of $3,741,750.00. Following the transaction, the chief executive officer now owns 2,106,806 shares in the company, valued at approximately $350,361,837.80. This trade represents a 1.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Kavitark Ram Shriram sold 37,134 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total transaction of $6,870,532.68. Following the sale, the director now owns 282,832 shares of the company’s stock, valued at approximately $52,329,576.64. This represents a 11.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 153,053 shares of company stock worth $27,559,701 in the last quarter. 11.55% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently commented on GOOGL. Cantor Fitzgerald restated a “neutral” rating and set a $190.00 price target on shares of Alphabet in a research note on Wednesday, October 30th. Bank of America restated a “buy” rating and issued a $210.00 target price on shares of Alphabet in a research note on Monday, December 23rd. Phillip Securities upgraded shares of Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. The Goldman Sachs Group restated a “buy” rating and issued a $210.00 price objective on shares of Alphabet in a research report on Thursday, December 12th. Finally, KeyCorp boosted their target price on Alphabet from $215.00 to $225.00 and gave the stock an “overweight” rating in a research report on Friday. Nine analysts have rated the stock with a hold rating, thirty have issued a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and a consensus price target of $208.15.

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.