Axxcess Wealth Management LLC Has $35.26 Million Stake in Alphabet Inc. (NASDAQ:GOOGL)

Axxcess Wealth Management LLC trimmed its position in Alphabet Inc. (NASDAQ:GOOGL) by 0.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 190,139 shares of the information services provider’s stock after selling 306 shares during the quarter. Alphabet accounts for approximately 0.8% of Axxcess Wealth Management LLC’s investment portfolio, making the stock its 25th biggest holding. Axxcess Wealth Management LLC’s holdings in Alphabet were worth $35,255,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Compass Planning Associates Inc bought a new stake in Alphabet in the 4th quarter valued at approximately $30,000. LMR Partners LLP acquired a new stake in shares of Alphabet in the third quarter valued at approximately $32,000. E Fund Management Hong Kong Co. Ltd. lifted its position in shares of Alphabet by 518.8% in the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock worth $37,000 after purchasing an additional 166 shares in the last quarter. Fiduciary Advisors Inc. acquired a new position in Alphabet during the fourth quarter worth $39,000. Finally, PayPay Securities Corp grew its position in Alphabet by 36.1% in the fourth quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock valued at $46,000 after purchasing an additional 65 shares in the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Wolfe Research increased their price objective on shares of Alphabet from $220.00 to $230.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Morgan Stanley decreased their price target on Alphabet from $215.00 to $210.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. Robert W. Baird reiterated an “outperform” rating and set a $205.00 price objective on shares of Alphabet in a research note on Tuesday, December 10th. Roth Mkm reissued a “buy” rating and issued a $220.00 target price on shares of Alphabet in a research note on Wednesday, March 19th. Finally, DA Davidson upped their price target on shares of Alphabet from $190.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday, January 24th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $210.59.

Alphabet Stock Down 4.9 %

Shares of GOOGL opened at $154.33 on Friday. The firm has a 50 day simple moving average of $179.66 and a two-hundred day simple moving average of $176.72. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. Alphabet Inc. has a one year low of $147.22 and a one year high of $207.05. The company has a market cap of $1.88 trillion, a P/E ratio of 19.17, a P/E/G ratio of 1.34 and a beta of 1.02.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Research analysts forecast 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 was paid on Monday, March 17th. Investors of record on Monday, March 10th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.52%. The ex-dividend date of this dividend was Monday, March 10th. Alphabet’s dividend payout ratio (DPR) is presently 9.94%.

Insider Buying and Selling

In related news, Director John L. Hennessy sold 200 shares of the firm’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $165.53, for a total transaction of $33,106.00. Following the sale, the director now owns 7,813 shares of the company’s stock, valued at $1,293,285.89. This trade represents a 2.50 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider John Kent Walker sold 16,820 shares of the company’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $192.62, for a total value of $3,239,868.40. Following the completion of the transaction, the insider now directly owns 43,981 shares of the company’s stock, valued at approximately $8,471,620.22. The trade was a 27.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 104,812 shares of company stock worth $19,336,979 in the last three months. 11.55% of the stock is owned by corporate insiders.

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.