Axxcess Wealth Management LLC Purchases 3,421 Shares of Alphabet Inc. $GOOG

Axxcess Wealth Management LLC increased its holdings in Alphabet Inc. (NASDAQ:GOOG) by 3.0% during the 2nd quarter, HoldingsChannel reports. The firm owned 118,661 shares of the information services provider’s stock after buying an additional 3,421 shares during the period. Axxcess Wealth Management LLC’s holdings in Alphabet were worth $19,873,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. RDA Financial Network increased its stake in Alphabet by 5.3% during the second quarter. RDA Financial Network now owns 11,094 shares of the information services provider’s stock worth $1,968,000 after acquiring an additional 554 shares during the last quarter. Tower View Wealth Management LLC increased its position in shares of Alphabet by 6.9% during the 2nd quarter. Tower View Wealth Management LLC now owns 27,644 shares of the information services provider’s stock valued at $4,904,000 after purchasing an additional 1,776 shares during the last quarter. Oldfather Financial Services LLC bought a new position in shares of Alphabet during the 2nd quarter valued at approximately $213,000. Truist Financial Corp increased its position in shares of Alphabet by 0.4% during the 2nd quarter. Truist Financial Corp now owns 3,626,927 shares of the information services provider’s stock valued at $643,381,000 after purchasing an additional 15,065 shares during the last quarter. Finally, GC Wealth Management RIA LLC increased its position in Alphabet by 115.7% during the second quarter. GC Wealth Management RIA LLC now owns 214,392 shares of the information services provider’s stock valued at $38,031,000 after acquiring an additional 115,003 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Alphabet Stock Up 0.8%

Shares of Alphabet stock opened at $253.79 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The firm’s 50-day moving average is $232.18 and its two-hundred day moving average is $192.73. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $257.58. The stock has a market cap of $3.07 trillion, a price-to-earnings ratio of 27.03, a PEG ratio of 1.70 and a beta of 1.00.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.12 by $0.19. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The firm had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.67 billion. During the same period last year, the firm earned $1.89 earnings per share. The company’s quarterly revenue was up 13.8% on a year-over-year basis. As a group, research analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is presently 8.95%.

Insider Buying and Selling

In other Alphabet news, Director Frances Arnold sold 103 shares of the firm’s stock in a transaction that occurred on Tuesday, September 30th. The shares were sold at an average price of $243.13, for a total value of $25,042.39. Following the completion of the sale, the director directly owned 17,284 shares in the company, valued at $4,202,258.92. This trade represents a 0.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John Kent Walker sold 17,816 shares of the firm’s stock in a transaction on Monday, September 29th. The stock was sold at an average price of $247.42, for a total value of $4,408,034.72. Following the completion of the sale, the insider directly owned 42,985 shares of the company’s stock, valued at $10,635,348.70. The trade was a 29.30% decrease in their position. The disclosure for this sale can be found here. Insiders sold 243,372 shares of company stock valued at $55,110,740 over the last quarter. Insiders own 12.99% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOG has been the topic of a number of analyst reports. Lake Street Capital reiterated a “buy” rating on shares of Alphabet in a research report on Wednesday, July 9th. Roth Capital reiterated a “buy” rating on shares of Alphabet in a report on Wednesday, July 9th. Scotiabank reiterated an “outperform” rating and set a $310.00 price target on shares of Alphabet in a report on Thursday. Mizuho raised Alphabet to a “strong-buy” rating in a research note on Monday, September 29th. Finally, Robert W. Baird upped their target price on Alphabet from $215.00 to $275.00 and gave the company an “outperform” rating in a research note on Monday, September 22nd. Six research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $244.68.

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.