Accel Wealth Management Sells 2,031 Shares of Alphabet Inc. $GOOGL

Key Points

• Accel Wealth Management has reduced its stake in Alphabet Inc. by 11.5%, selling 2,031 shares and resulting in a portfolio worth approximately $2.76 million at the end of the second quarter.
• Alphabet recently announced a quarterly dividend of $0.21 per share, representing a 0.4% yield, with a low dividend payout ratio of 8.95%.
• In the latest earnings report, Alphabet reported $2.31 EPS, exceeding estimates, with revenue of $96.43 billion surpassing analyst expectations of $93.60 billion.

Accel Wealth Management lowered its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 11.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 15,649 shares of the information services provider's stock after selling 2,031 shares during the quarter. Alphabet comprises approximately 0.9% of Accel Wealth Management's portfolio, making the stock its 25th largest holding. Accel Wealth Management's holdings in Alphabet were worth $2,758,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in GOOGL. Nuveen LLC bought a new position in shares of Alphabet in the first quarter worth $4,317,606,000. Vanguard Group Inc. increased its holdings in shares of Alphabet by 2.9% in the first quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider's stock worth $78,839,544,000 after purchasing an additional 14,307,345 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Alphabet by 11.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 43,865,520 shares of the information services provider's stock worth $6,783,364,000 after purchasing an additional 4,473,901 shares during the period. Amundi increased its holdings in shares of Alphabet by 11.8% in the first quarter. Amundi now owns 33,403,871 shares of the information services provider's stock worth $5,034,992,000 after purchasing an additional 3,537,173 shares during the period. Finally, Evergreen Quality Fund GP Ltd. increased its holdings in shares of Alphabet by 178.3% in the first quarter. Evergreen Quality Fund GP Ltd. now owns 4,003,900 shares of the information services provider's stock worth $619,163,000 after purchasing an additional 2,565,400 shares during the period. Institutional investors own 40.03% of the company's stock.

Alphabet Stock Performance

NASDAQ GOOGL opened at $236.57 on Monday. The company has a 50-day simple moving average of $226.31 and a two-hundred day simple moving average of $188.84. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $256.00. The firm has a market cap of $2.86 trillion, a price-to-earnings ratio of 25.19, a PEG ratio of 1.60 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.16. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The business had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.60 billion. On average, equities analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.4%. The ex-dividend date was Monday, September 8th. Alphabet's dividend payout ratio is presently 8.95%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on GOOGL shares. Needham & Company LLC upped their price target on shares of Alphabet from $220.00 to $260.00 and gave the stock a "buy" rating in a report on Wednesday, September 3rd. Barclays upped their price target on shares of Alphabet from $235.00 to $250.00 and gave the stock an "overweight" rating in a report on Wednesday, September 3rd. Phillip Securities lowered shares of Alphabet from a "strong-buy" rating to a "moderate buy" rating in a research report on Monday, September 8th. Weiss Ratings reiterated a "buy (b)" rating on shares of Alphabet in a research report on Wednesday, October 8th. Finally, Wells Fargo & Company set a $236.00 target price on shares of Alphabet and gave the stock an "equal weight" rating in a research report on Tuesday, October 7th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat.com, Alphabet currently has a consensus rating of "Moderate Buy" and a consensus price target of $245.88.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director Frances Arnold sold 103 shares of the company's stock in a transaction dated Tuesday, September 30th. The shares were sold at an average price of $243.13, for a total transaction of $25,042.39. Following the completion of the sale, the director directly owned 17,284 shares in the company, valued at $4,202,258.92. This represents a 0.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director John L. Hennessy sold 600 shares of the stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $249.44, for a total transaction of $149,664.00. Following the sale, the director owned 5,716 shares of the company's stock, valued at approximately $1,425,799.04. This represents a 9.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 276,338 shares of company stock valued at $59,062,683. 11.64% of the stock is currently owned by insiders.

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.

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