Accurate Wealth Management LLC Acquires 4,957 Shares of Alphabet Inc. $GOOGL

Key Points

• Accurate Wealth Management LLC increased its stake in Alphabet Inc. by 20.6% in the 2nd quarter, acquiring an additional 4,957 shares, bringing its total ownership to 29,066 shares, valued at approximately $5.16 million.
• Insider transactions included a sale of 600 shares by Director John L. Hennessy, representing a 9.50% decrease in his ownership, and a significant sale of 23,820 shares by insider John Kent Walker, which marked a 35.65% decrease in his position.
• Alphabet recently announced a quarterly dividend of $0.21 per share, paying out on September 15th, indicating a 0.3% yield and a payout ratio of 8.95%.

Accurate Wealth Management LLC boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 20.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,066 shares of the information services provider's stock after acquiring an additional 4,957 shares during the quarter. Alphabet accounts for about 0.8% of Accurate Wealth Management LLC's investment portfolio, making the stock its 22nd largest holding. Accurate Wealth Management LLC's holdings in Alphabet were worth $5,162,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in the business. Guardian Wealth Management Inc. grew its holdings in shares of Alphabet by 242.9% during the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock worth $26,000 after purchasing an additional 119 shares during the last quarter. von Borstel & Associates Inc. purchased a new stake in Alphabet in the 1st quarter worth approximately $28,000. IMA Advisory Services Inc. bought a new position in shares of Alphabet during the 1st quarter worth about $28,000. NBZ Investment Advisors LLC boosted its position in Alphabet by 85.7% in the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider's stock valued at $30,000 after buying an additional 90 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. bought a new stake in Alphabet in the first quarter valued at approximately $39,000. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director John L. Hennessy sold 600 shares of the firm's stock in a transaction on Monday, September 15th. The shares were sold at an average price of $249.44, for a total value of $149,664.00. Following the completion of the transaction, the director directly owned 5,716 shares of the company's stock, valued at approximately $1,425,799.04. This trade represents a 9.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider John Kent Walker sold 23,820 shares of the business's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $194.70, for a total value of $4,637,754.00. Following the sale, the insider owned 42,999 shares in the company, valued at $8,371,905.30. The trade was a 35.65% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 258,088 shares of company stock worth $52,405,304 in the last ninety days. Corporate insiders own 11.64% of the company's stock.

Alphabet Stock Up 0.3%

NASDAQ GOOGL opened at $246.54 on Friday. The stock has a market cap of $2.98 trillion, a PE ratio of 26.26, a PEG ratio of 1.66 and a beta of 1.01. The firm has a 50-day simple moving average of $215.93 and a 200 day simple moving average of $183.03. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $256.00.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping 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 the consensus estimate of $93.60 billion. On average, research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were paid a dividend of $0.21 per share. The ex-dividend date was Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.3%. Alphabet's dividend payout ratio is currently 8.95%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Citigroup raised their price target on shares of Alphabet from $225.00 to $280.00 and gave the company a "buy" rating in a research note on Monday, September 15th. Roth Capital raised their price objective on Alphabet from $205.00 to $210.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Needham & Company LLC boosted their price objective on Alphabet from $220.00 to $260.00 and gave the company a "buy" rating in a research note on Wednesday, September 3rd. Wall Street Zen downgraded Alphabet from a "buy" rating to a "hold" rating in a research report on Sunday, September 21st. Finally, Citizens Jmp raised their price objective on Alphabet from $250.00 to $290.00 and gave the company an "outperform" rating in a report on Friday, September 19th. Three research analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $233.44.

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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