Accredited Wealth Management LLC Takes Position in Alphabet Inc. (NASDAQ:GOOGL)

Accredited Wealth Management LLC acquired a new position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 2,750 shares of the information services provider's stock, valued at approximately $521,000.

Several other large investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Alphabet in the fourth quarter worth about $24,383,677,000. FMR LLC boosted its holdings in Alphabet by 9.8% in the 4th quarter. FMR LLC now owns 248,416,916 shares of the information services provider's stock valued at $47,025,322,000 after purchasing an additional 22,100,902 shares during the period. Capital Research Global Investors grew its position in shares of Alphabet by 16.2% during the 4th quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider's stock valued at $13,635,878,000 after purchasing an additional 10,037,685 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Alphabet by 15.9% in the fourth quarter. Wellington Management Group LLP now owns 66,050,135 shares of the information services provider's stock worth $12,503,291,000 after purchasing an additional 9,042,271 shares during the period. Finally, Proficio Capital Partners LLC raised its position in shares of Alphabet by 20,990.0% in the fourth quarter. Proficio Capital Partners LLC now owns 6,186,748 shares of the information services provider's stock worth $1,171,151,000 after buying an additional 6,157,413 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on GOOGL. KeyCorp upped their target price on Alphabet from $185.00 to $195.00 and gave the stock an "overweight" rating in a research note on Friday, April 25th. Wells Fargo & Company raised their target price on shares of Alphabet from $167.00 to $175.00 and gave the company an "equal weight" rating in a research note on Friday, April 25th. Westpark Capital raised shares of Alphabet to a "strong-buy" rating in a research note on Tuesday, April 1st. Wedbush set a $190.00 price objective on shares of Alphabet and gave the company an "outperform" rating in a research report on Tuesday, April 15th. Finally, DZ Bank lowered Alphabet from a "buy" rating to a "hold" rating and set a $198.00 price target for the company. in a research note on Thursday, February 6th. Ten analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and five have issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $199.46.

Alphabet Stock Up 1.7 %

Shares of GOOGL stock traded up $2.73 during mid-day trading on Friday, reaching $164.03. 25,689,744 shares of the company's stock traded hands, compared to its average volume of 28,193,426. The company's 50-day moving average price is $160.19 and its 200-day moving average price is $175.34. The company has a market cap of $1.99 trillion, a P/E ratio of 20.38, a P/E/G ratio of 1.34 and a beta of 1.01. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $207.05.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping analysts' consensus estimates of $2.02 by $0.79. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. The business had revenue of $76.49 billion for the quarter, compared to analysts' expectations of $89.30 billion. During the same quarter in the prior year, the company earned $1.89 earnings per share. On average, equities analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be paid a $0.21 dividend. This is a boost from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date of this dividend is Monday, June 9th. Alphabet's dividend payout ratio is currently 9.36%.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O'toole sold 1,340 shares of the company's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $202.08, for a total transaction of $270,787.20. Following the transaction, the chief accounting officer now owns 17,848 shares in the company, valued at approximately $3,606,723.84. This represents a 6.98 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $156.16, for a total transaction of $5,075,200.00. Following the completion of the sale, the chief executive officer now owns 2,685,196 shares of the company's stock, valued at $419,320,207.36. This represents a 1.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 148,164 shares of company stock worth $25,357,390 in the last quarter. Corporate insiders own 11.55% of the company's stock.

Alphabet 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.