Axxcess Wealth Management LLC Raises Stake in Alphabet Inc. (NASDAQ:GOOG)

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

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Fiduciary Advisors Inc. purchased a new stake in Alphabet during the 4th quarter valued at $27,000. Weiss Asset Management LP purchased a new stake in Alphabet in the third quarter valued at about $25,000. Safe Harbor Fiduciary LLC purchased a new position in shares of Alphabet in the third quarter worth about $33,000. Noble Wealth Management PBC purchased a new position in Alphabet during the fourth quarter valued at approximately $43,000. Finally, FPC Investment Advisory Inc. raised its position in Alphabet by 287.9% during the fourth quarter. FPC Investment Advisory Inc. now owns 225 shares of the information services provider’s stock valued at $46,000 after acquiring an additional 167 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors.

Alphabet Stock Performance

NASDAQ GOOG opened at $166.57 on Tuesday. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $2.03 trillion, a P/E ratio of 20.69, a P/E/G ratio of 1.34 and a beta of 1.03. Alphabet Inc. has a 12-month low of $147.01 and a 12-month high of $208.70. The firm has a 50-day moving average price of $186.78 and a two-hundred day moving average price of $178.12.

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

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date was Monday, March 10th. Alphabet’s dividend payout ratio (DPR) is 9.94%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on GOOG. Benchmark reaffirmed a “negative” rating on shares of Alphabet in a research note on Wednesday, February 5th. Needham & Company LLC reissued a “buy” rating on shares of Alphabet in a research note on Wednesday, February 5th. Scotiabank upped their target price on Alphabet from $212.00 to $240.00 and gave the company a “sector outperform” rating in a research report on Friday, January 24th. Oppenheimer upped their target price on Alphabet from $215.00 to $225.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of Alphabet in a research note on Wednesday, February 5th. One analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have issued a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $209.13.

Insider Activity at Alphabet

In other news, Director Kavitark Ram Shriram sold 29,066 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $184.89, for a total value of $5,374,012.74. Following the completion of the sale, the director now directly owns 272,466 shares in the company, valued at approximately $50,376,238.74. The trade was a 9.64 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $165.53, for a total transaction of $33,106.00. Following the completion of the transaction, the director now directly owns 7,813 shares in the company, valued at approximately $1,293,285.89. The trade was a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 93,048 shares of company stock valued at $17,374,274 over the last ninety days. Corporate insiders own 12.99% of the company’s stock.

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.