Accelerate Investment Advisors LLC Has $573,000 Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Accelerate Investment Advisors LLC raised its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 8.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 3,011 shares of the information services provider’s stock after acquiring an additional 229 shares during the quarter. Accelerate Investment Advisors LLC’s holdings in Alphabet were worth $573,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Weiss Asset Management LP acquired a new position in Alphabet during the 3rd quarter valued at about $25,000. Abich Financial Wealth Management LLC lifted its position in Alphabet by 9,200.0% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock valued at $34,000 after purchasing an additional 184 shares during the period. Safe Harbor Fiduciary LLC acquired a new position in Alphabet during the 3rd quarter valued at about $33,000. HWG Holdings LP acquired a new position in Alphabet during the 2nd quarter valued at about $40,000. Finally, Sanctuary Wealth Management L.L.C. lifted its position in Alphabet by 87.3% during the 3rd quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock valued at $42,000 after purchasing an additional 117 shares during the period. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GOOG has been the topic of a number of analyst reports. Pivotal Research increased their price target on shares of Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Barclays raised their price target on shares of Alphabet from $200.00 to $220.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Jefferies Financial Group raised their price target on shares of Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Oppenheimer raised their price target on shares of Alphabet from $185.00 to $215.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Finally, Citigroup increased their price objective on Alphabet from $212.00 to $216.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Six research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and a consensus price target of $200.56.

Insider Transactions at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $166.30, for a total value of $3,741,750.00. Following the transaction, the chief executive officer now directly owns 2,106,806 shares of the company’s stock, valued at approximately $350,361,837.80. The trade was a 1.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Frances Arnold sold 441 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $171.06, for a total value of $75,437.46. Following the completion of the transaction, the director now directly owns 16,490 shares in the company, valued at approximately $2,820,779.40. This trade represents a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 154,387 shares of company stock worth $27,748,931. Insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

Shares of GOOG traded down $1.20 during midday trading on Monday, reaching $191.97. 8,247,402 shares of the stock were exchanged, compared to its average volume of 15,684,559. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a twelve month low of $131.55 and a twelve month high of $202.88. The company has a market cap of $2.35 trillion, a P/E ratio of 25.46, a PEG ratio of 1.34 and a beta of 0.99. The stock’s 50 day simple moving average is $184.12 and its 200 day simple moving average is $174.45.

Alphabet (NASDAQ:GOOG) last released its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The firm had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $86.39 billion. During the same quarter in the previous year, the business posted $1.55 earnings per share. The business’s revenue for the quarter was up 15.1% on a year-over-year basis. On average, sell-side analysts expect that Alphabet Inc. will post 8.02 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.42%. The ex-dividend date of this dividend was Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is currently 10.61%.

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.