Axxcess Wealth Management LLC Decreases Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Axxcess Wealth Management LLC lowered its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 1.3% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 187,669 shares of the information services provider's stock after selling 2,470 shares during the period. Alphabet comprises about 0.7% of Axxcess Wealth Management LLC's investment portfolio, making the stock its 29th biggest holding. Axxcess Wealth Management LLC's holdings in Alphabet were worth $28,125,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Twelve Points Wealth Management LLC lifted its position in shares of Alphabet by 6.6% in the 1st quarter. Twelve Points Wealth Management LLC now owns 6,410 shares of the information services provider's stock worth $991,000 after purchasing an additional 399 shares during the period. OMC Financial Services LTD lifted its position in shares of Alphabet by 2.0% in the 1st quarter. OMC Financial Services LTD now owns 33,060 shares of the information services provider's stock worth $5,112,000 after purchasing an additional 637 shares during the period. Rehmann Capital Advisory Group lifted its position in shares of Alphabet by 2.2% in the 1st quarter. Rehmann Capital Advisory Group now owns 35,322 shares of the information services provider's stock worth $5,462,000 after purchasing an additional 758 shares during the period. Cornerstone Planning Group LLC lifted its position in shares of Alphabet by 32.4% in the 1st quarter. Cornerstone Planning Group LLC now owns 3,153 shares of the information services provider's stock worth $490,000 after purchasing an additional 772 shares during the period. Finally, Dogwood Wealth Management LLC lifted its position in shares of Alphabet by 7.7% in the 1st quarter. Dogwood Wealth Management LLC now owns 4,020 shares of the information services provider's stock worth $622,000 after purchasing an additional 288 shares during the period. Hedge funds and other institutional investors own 40.03% of the company's stock.

Insider Buying and Selling

In other Alphabet news, Director Kavitark Ram Shriram sold 9,000 shares of the business's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total transaction of $1,575,000.00. Following the transaction, the director owned 255,400 shares in the company, valued at $44,695,000. The trade was a 3.40% 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, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $184.38, for a total transaction of $5,992,350.00. Following the transaction, the chief executive officer owned 2,527,392 shares in the company, valued at $466,000,536.96. This trade represents a 1.27% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 215,843 shares of company stock worth $37,288,490. Insiders own 11.64% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Oppenheimer raised their target price on shares of Alphabet from $185.00 to $200.00 and gave the stock an "outperform" rating in a research report on Friday, April 25th. JMP Securities upgraded shares of Alphabet from a "market perform" rating to a "market outperform" rating and set a $220.00 price target for the company in a research note on Friday, June 27th. DA Davidson decreased their price target on shares of Alphabet from $200.00 to $160.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Wedbush set a $190.00 price target on shares of Alphabet and gave the stock an "outperform" rating in a research note on Tuesday, April 15th. Finally, Citigroup reiterated a "buy" rating and issued a $203.00 price target (up from $200.00) on shares of Alphabet in a research note on Tuesday, June 24th. Ten analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $201.68.

Alphabet Stock Performance

Shares of GOOGL stock traded up $0.47 during trading hours on Friday, reaching $184.05. The company had a trading volume of 10,761,344 shares, compared to its average volume of 32,009,831. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77. The firm has a market cap of $2.23 trillion, a PE ratio of 20.50, a price-to-earnings-growth ratio of 1.28 and a beta of 1.00. The business has a fifty day moving average price of $172.26 and a 200-day moving average price of $173.15. Alphabet Inc. has a one year low of $140.53 and a one year high of $207.05.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly 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 net margin of 30.86% and a return on equity of 34.54%. The business had revenue of $76.49 billion for the quarter, compared to the consensus estimate of $89.30 billion. During the same quarter in the previous year, the firm earned $1.89 earnings per share. Sell-side analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Increases Dividend

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

Alphabet Company 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.