Accretive Wealth Partners LLC Sells 656 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Accretive Wealth Partners LLC reduced its position in Alphabet Inc. (NASDAQ:GOOGL) by 8.0% during the third quarter, HoldingsChannel reports. The fund owned 7,527 shares of the information services provider’s stock after selling 656 shares during the quarter. Accretive Wealth Partners LLC’s holdings in Alphabet were worth $1,248,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Monterey Private Wealth Inc. grew its position in shares of Alphabet by 5.6% in the second quarter. Monterey Private Wealth Inc. now owns 17,767 shares of the information services provider’s stock valued at $3,236,000 after purchasing an additional 946 shares in the last quarter. Fragasso Financial Advisors Inc boosted its stake in Alphabet by 0.5% in the 2nd quarter. Fragasso Financial Advisors Inc now owns 88,844 shares of the information services provider’s stock worth $16,183,000 after purchasing an additional 476 shares during the period. Lynx Investment Advisory purchased a new position in Alphabet during the 2nd quarter valued at about $2,441,000. Sage Capital Advisors llc increased its position in shares of Alphabet by 0.3% during the second quarter. Sage Capital Advisors llc now owns 64,283 shares of the information services provider’s stock valued at $11,709,000 after buying an additional 169 shares during the period. Finally, Baker Ellis Asset Management LLC lifted its holdings in shares of Alphabet by 1.1% in the second quarter. Baker Ellis Asset Management LLC now owns 21,585 shares of the information services provider’s stock worth $3,932,000 after buying an additional 230 shares in the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Price Performance

Shares of Alphabet stock opened at $174.71 on Friday. The company has a market cap of $2.14 trillion, a PE ratio of 23.17, a P/E/G ratio of 1.21 and a beta of 1.01. The business has a 50 day moving average of $169.30 and a 200 day moving average of $170.31. Alphabet Inc. has a 52 week low of $129.68 and a 52 week high of $191.75. 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 announced its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The firm had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. During the same quarter in the previous year, the firm posted $1.55 EPS. As a group, equities research analysts forecast that Alphabet Inc. will post 8.01 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date is Monday, December 9th. Alphabet’s payout ratio is presently 10.61%.

Analyst Ratings Changes

Several brokerages recently commented on GOOGL. Needham & Company LLC reaffirmed a “buy” rating and set a $210.00 price objective on shares of Alphabet in a research note on Wednesday, October 30th. Pivotal Research boosted their price target on shares of Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $190.00 price objective on shares of Alphabet in a research report on Wednesday, October 30th. BMO Capital Markets reissued an “outperform” rating and set a $217.00 price objective (up previously from $215.00) on shares of Alphabet in a research note on Wednesday, October 30th. Finally, Tigress Financial upped their target price on Alphabet from $210.00 to $220.00 and gave the stock a “strong-buy” rating in a research note on Thursday, September 26th. Seven investment analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $205.90.

Insider Activity at Alphabet

In other Alphabet news, Director Frances Arnold sold 441 shares of Alphabet stock in a transaction on Monday, November 4th. The stock was sold at an average price of $171.06, for a total transaction of $75,437.46. Following the completion of the transaction, the director now owns 16,490 shares in the company, valued at approximately $2,820,779.40. The trade was a 2.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $160.63, for a total value of $3,614,175.00. Following the completion of the sale, the chief executive officer now directly owns 2,114,885 shares in the company, valued at approximately $339,713,977.55. This represents a 1.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 163,624 shares of company stock worth $27,803,730 over the last ninety days. 11.55% of the stock is owned by corporate insiders.

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.