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Accretive Wealth Partners LLC Sells 1,479 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Alphabet logo with Computer and Technology background

Key Points

  • Accretive Wealth Partners LLC reduced its stake in Alphabet Inc. by 19.7%, owning 6,010 shares after selling 1,479 shares in the first quarter.
  • CEO Sundar Pichai sold 32,500 shares for approximately $5.8 million, resulting in a 1.25% decrease in his ownership.
  • Alphabet recently announced a quarterly dividend of $0.21 per share, with a yield of 0.4% and an annual payout ratio of 8.95%.
  • MarketBeat previews top five stocks to own in September.

Accretive Wealth Partners LLC lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 19.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,010 shares of the information services provider's stock after selling 1,479 shares during the quarter. Accretive Wealth Partners LLC's holdings in Alphabet were worth $981,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Guardian Wealth Management Inc. increased its stake in Alphabet by 242.9% in the 1st 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 in the last quarter. von Borstel & Associates Inc. acquired a new position in shares of Alphabet in the first quarter worth about $28,000. IMA Advisory Services Inc. purchased a new position in shares of Alphabet in the first quarter worth approximately $28,000. Financial Gravity Asset Management Inc. acquired a new stake in shares of Alphabet during the first quarter valued at approximately $39,000. Finally, Elite Financial Inc. purchased a new stake in shares of Alphabet in the 1st quarter valued at approximately $42,000. 40.03% of the stock is currently owned by institutional investors.

Insider Activity at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 18,566 shares of Alphabet stock in a transaction on Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $3,448,820.16. Following the sale, the director directly owned 243,400 shares in the company, valued at approximately $45,213,984. The trade was a 7.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total transaction of $5,801,900.00. Following the sale, the chief executive officer directly owned 2,559,892 shares in the company, 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 249,399 shares of company stock valued at $43,525,794 in the last quarter. Corporate insiders own 11.55% of the company's stock.

Alphabet Trading Up 3.1%

NASDAQ:GOOGL traded up $5.91 during trading hours on Monday, hitting $195.04. The stock had a trading volume of 31,493,654 shares, compared to its average volume of 37,132,445. The business's 50 day moving average is $178.32 and its 200-day moving average is $172.82. The company has a market cap of $2.36 trillion, a price-to-earnings ratio of 20.77, a P/E/G ratio of 1.28 and a beta of 1.01. Alphabet Inc. has a one year low of $140.53 and a one year high of $207.05. 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 (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings data 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 return on equity of 34.31% and a net margin of 31.12%. The business had revenue of $96,428,000 billion for the quarter, compared to the consensus estimate of $93.60 billion. Sell-side analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Monday, September 8th. Alphabet's dividend payout ratio is 8.95%.

Analyst Ratings Changes

GOOGL has been the subject of a number of research analyst reports. BNP Paribas lowered Alphabet from a "strong-buy" rating to a "hold" rating in a report on Thursday, June 26th. Stifel Nicolaus increased their price objective on Alphabet from $200.00 to $218.00 and gave the stock a "buy" rating in a research note on Tuesday, July 22nd. Wells Fargo & Company lifted their target price on Alphabet from $184.00 to $187.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 29th. KeyCorp raised their price target on shares of Alphabet from $215.00 to $230.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Finally, Rosenblatt Securities upped their price objective on shares of Alphabet from $189.00 to $191.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. Ten research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $211.39.

View Our Latest Analysis on Alphabet

About Alphabet

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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