Accretive Wealth Partners LLC Increases Position in Alphabet Inc. (NASDAQ:GOOG)

Key Points

• Accretive Wealth Partners LLC increased its stake in Alphabet Inc. by 13.1%, holding 19,581 shares valued at approximately $3.23 million, making it the fund's 17th largest holding.
• A number of major investors, including FMR LLC and Northern Trust Corp, have also increased their stakes in Alphabet, reflecting robust institutional interest in the company.
• Alphabet reported earnings per share of $2.31 for the most recent quarter, exceeding expectations, with revenues of $96.43 billion, up 13.8% year-over-year.

Accretive Wealth Partners LLC boosted its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 13.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,581 shares of the information services provider's stock after acquiring an additional 2,274 shares during the quarter. Alphabet accounts for approximately 1.1% of Accretive Wealth Partners LLC's portfolio, making the stock its 17th largest holding. Accretive Wealth Partners LLC's holdings in Alphabet were worth $3,235,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. FMR LLC boosted its stake in shares of Alphabet by 2.8% in the 4th quarter. FMR LLC now owns 117,991,725 shares of the information services provider's stock valued at $22,470,344,000 after purchasing an additional 3,189,592 shares in the last quarter. Geode Capital Management LLC lifted its stake in Alphabet by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 104,777,092 shares of the information services provider's stock worth $19,894,651,000 after purchasing an additional 1,219,606 shares during the last quarter. Capital International Investors boosted its position in Alphabet by 6.7% during the fourth quarter. Capital International Investors now owns 91,236,069 shares of the information services provider's stock valued at $17,376,706,000 after buying an additional 5,758,244 shares during the period. Northern Trust Corp boosted its position in Alphabet by 16.1% during the fourth quarter. Northern Trust Corp now owns 57,098,042 shares of the information services provider's stock valued at $10,873,751,000 after buying an additional 7,917,625 shares during the period. Finally, Capital Research Global Investors grew its stake in shares of Alphabet by 0.8% during the fourth quarter. Capital Research Global Investors now owns 39,148,500 shares of the information services provider's stock valued at $7,455,571,000 after buying an additional 294,556 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on GOOG. The Goldman Sachs Group reissued a "buy" rating and issued a $220.00 target price on shares of Alphabet in a research note on Monday, June 2nd. Piper Sandler reiterated a "neutral" rating on shares of Alphabet in a research report on Wednesday, July 9th. Wells Fargo & Company reissued an "equal weight" rating on shares of Alphabet in a research note on Wednesday, July 9th. Roth Capital reaffirmed a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. Finally, Raymond James Financial reiterated an "outperform" rating and set a $210.00 price target (up from $185.00) on shares of Alphabet in a report on Thursday. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have assigned a buy rating and five have assigned a strong buy rating to the stock. According to MarketBeat.com, Alphabet has a consensus rating of "Moderate Buy" and a consensus price target of $215.19.

Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total transaction of $5,801,900.00. Following the sale, the chief executive officer owned 2,559,892 shares of the company's stock, valued at $456,991,919.84. The trade was a 1.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kavitark Ram Shriram sold 18,566 shares of the firm's stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the transaction, the director directly owned 243,400 shares of the company's stock, valued at $45,213,984. This represents a 7.09% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 249,409 shares of company stock valued at $43,523,710. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Stock Up 0.5%

Shares of NASDAQ:GOOG opened at $194.08 on Friday. The firm has a market capitalization of $2.36 trillion, a P/E ratio of 20.67, a P/E/G ratio of 1.32 and a beta of 1.01. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.77 and a current ratio of 1.90. The stock has a 50 day moving average price of $176.86 and a 200-day moving average price of $174.67. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $208.70.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.12 by $0.19. The business had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. The firm's quarterly revenue was up 13.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.89 earnings per share. As a group, equities research analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be paid a $0.21 dividend. The ex-dividend date is Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.43%. Alphabet's payout ratio is 8.95%.

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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