Accretive Wealth Partners LLC Sells 241 Shares of Alphabet Inc. (NASDAQ:GOOG)

Accretive Wealth Partners LLC cut its position in Alphabet Inc. (NASDAQ:GOOG) by 1.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,295 shares of the information services provider’s stock after selling 241 shares during the period. Alphabet accounts for about 1.2% of Accretive Wealth Partners LLC’s investment portfolio, making the stock its 18th biggest position. Accretive Wealth Partners LLC’s holdings in Alphabet were worth $2,892,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Abich Financial Wealth Management LLC raised its holdings 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 worth $34,000 after purchasing an additional 184 shares during the last quarter. 1620 Investment Advisors Inc. bought a new stake in shares of Alphabet during the second quarter worth approximately $37,000. HWG Holdings LP acquired a new position in Alphabet in the second quarter valued at approximately $40,000. Sanctuary Wealth Management L.L.C. boosted its stake in Alphabet by 87.3% in the third quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock valued at $42,000 after acquiring an additional 117 shares during the last quarter. Finally, Slocum Gordon & Co LLP acquired a new stake in Alphabet during the 2nd quarter worth $44,000. 27.26% of the stock is owned by institutional investors.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total transaction of $109,420.08. Following the completion of the sale, the chief accounting officer now directly owns 32,017 shares in the company, valued at approximately $5,136,807.48. This represents a 2.09 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $158.68, for a total transaction of $3,570,300.00. Following the sale, the chief executive officer now directly owns 2,137,385 shares of the company’s stock, valued at $339,160,251.80. This represents a 1.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 206,795 shares of company stock worth $34,673,866 over the last 90 days. Company insiders own 12.99% of the company’s stock.

Alphabet Stock Down 4.4 %

GOOG stock opened at $169.49 on Friday. Alphabet Inc. has a twelve month low of $129.40 and a twelve month high of $193.31. The company has a market cap of $2.07 trillion, a price-to-earnings ratio of 22.48, a P/E/G ratio of 1.26 and a beta of 1.04. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The business has a 50 day moving average price of $168.93 and a two-hundred day moving average price of $171.90.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The business had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $86.39 billion. During the same period in the previous year, the company earned $1.55 earnings per share. The firm’s revenue for the quarter was up 15.1% on a year-over-year basis. Analysts anticipate that Alphabet Inc. will post 7.99 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be paid a $0.20 dividend. The ex-dividend date is Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.47%. Alphabet’s dividend payout ratio is 10.61%.

Analyst Ratings Changes

Several brokerages have issued reports on GOOG. UBS Group increased their price target on Alphabet from $187.00 to $192.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Seaport Res Ptn upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Phillip Securities upgraded shares of Alphabet to a “strong-buy” rating in a report on Friday, November 1st. Canaccord Genuity Group raised their price objective on shares of Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, DA Davidson raised shares of Alphabet to a “hold” rating in a research note on Tuesday, September 10th. Five equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and a consensus target price of $200.56.

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.