Axxcess Wealth Management LLC Has $17.06 Million Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Axxcess Wealth Management LLC lowered its stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 4.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 115,240 shares of the information services provider's stock after selling 5,549 shares during the quarter. Axxcess Wealth Management LLC's holdings in Alphabet were worth $17,058,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of GOOG. LSV Asset Management acquired a new stake in Alphabet during the 4th quarter worth about $27,000. Principia Wealth Advisory LLC boosted its position in Alphabet by 111.8% during the 1st quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock worth $26,000 after acquiring an additional 85 shares during the period. MorganRosel Wealth Management LLC acquired a new stake in Alphabet during the 1st quarter worth about $26,000. WealthTrak Capital Management LLC acquired a new stake in shares of Alphabet during the 4th quarter valued at about $38,000. Finally, Mountain Hill Investment Partners Corp. acquired a new stake in shares of Alphabet during the 4th quarter valued at about $39,000. Hedge funds and other institutional investors own 27.26% of the company's stock.

Alphabet Trading Up 1.5%

Shares of GOOG traded up $2.61 during trading hours on Friday, hitting $181.31. 23,949,486 shares of the stock traded hands, compared to its average volume of 21,450,262. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $208.70. The business has a fifty day moving average of $171.50 and a 200-day moving average of $174.92. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $2.20 trillion, a PE ratio of 20.21, a price-to-earnings-growth ratio of 1.27 and a beta of 1.01.

Alphabet (NASDAQ:GOOG - Get Free Report) last released its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.79. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The firm had revenue of $90.23 billion for the quarter, compared to analyst estimates of $89.30 billion. During the same quarter in the prior year, the firm posted $1.89 earnings per share. The company's quarterly revenue was up 12.0% on a year-over-year basis. Analysts expect that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were issued a $0.21 dividend. This is an increase from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 0.46%. The ex-dividend date of this dividend was Monday, June 9th. Alphabet's dividend payout ratio is 9.36%.

Analyst Upgrades and Downgrades

GOOG has been the topic of a number of recent analyst reports. Needham & Company LLC downgraded Alphabet from a "buy" rating to a "cautious" rating in a research note on Friday, May 2nd. Susquehanna restated a "positive" rating on shares of Alphabet in a research report on Friday, May 2nd. JPMorgan Chase & Co. boosted their price objective on Alphabet from $195.00 to $200.00 and gave the company an "overweight" rating in a research report on Friday. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $220.00 price target on shares of Alphabet in a research note on Monday, June 2nd. Finally, Citizens Jmp raised Alphabet from a "hold" rating to a "strong-buy" rating in a research note on Thursday, June 26th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, eighteen have issued a buy rating and six have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $207.13.

Insiders Place Their Bets

In other Alphabet news, Director Kavitark Ram Shriram sold 9,000 shares of the stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $1,575,000.00. Following the completion of the sale, the director directly owned 255,400 shares in the company, valued at $44,695,000. This represents a 3.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total value of $5,801,900.00. Following the completion of the sale, the chief executive officer owned 2,559,892 shares of the company's stock, valued at $456,991,919.84. This trade represents a 1.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 215,643 shares of company stock worth $36,330,928 over the last ninety days. 12.99% of the stock is currently owned by corporate insiders.

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.