Accent Capital Management LLC Takes $4.09 Million Position in Alphabet Inc. (NASDAQ:GOOG)

Accent Capital Management LLC acquired a new stake in Alphabet Inc. (NASDAQ:GOOG) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 29,040 shares of the information services provider’s stock, valued at approximately $4,093,000. Alphabet makes up 3.2% of Accent Capital Management LLC’s portfolio, making the stock its 10th biggest position.

Other institutional investors and hedge funds have also made changes to their positions in the company. Intact Investment Management Inc. increased its stake in Alphabet by 15.3% in the third quarter. Intact Investment Management Inc. now owns 6,480 shares of the information services provider’s stock valued at $854,000 after purchasing an additional 860 shares during the last quarter. WestHill Financial Advisors Inc. increased its stake in Alphabet by 3.2% during the third quarter. WestHill Financial Advisors Inc. now owns 2,486 shares of the information services provider’s stock worth $328,000 after acquiring an additional 78 shares during the last quarter. Glenview Trust co increased its stake in Alphabet by 0.5% during the third quarter. Glenview Trust co now owns 98,928 shares of the information services provider’s stock worth $13,044,000 after acquiring an additional 508 shares during the last quarter. Peachtree Investment Partners LLC increased its stake in Alphabet by 155.7% during the third quarter. Peachtree Investment Partners LLC now owns 2,956 shares of the information services provider’s stock worth $390,000 after acquiring an additional 1,800 shares during the last quarter. Finally, Stokes Family Office LLC increased its stake in Alphabet by 20.0% during the third quarter. Stokes Family Office LLC now owns 113,662 shares of the information services provider’s stock worth $14,986,000 after acquiring an additional 18,956 shares during the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Stock Up 0.2 %

Shares of GOOG stock traded up $0.41 during trading hours on Monday, reaching $178.78. The company had a trading volume of 15,257,906 shares, compared to its average volume of 21,240,090. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15. Alphabet Inc. has a twelve month low of $115.83 and a twelve month high of $182.08. The company has a market capitalization of $2.21 trillion, a P/E ratio of 27.42, a price-to-earnings-growth ratio of 1.32 and a beta of 1.01. The stock’s fifty day simple moving average is $170.11 and its 200 day simple moving average is $152.83.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.51 by $0.38. The business had revenue of $80.54 billion during the quarter, compared to analyst estimates of $78.75 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The company’s revenue for the quarter was up 15.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.17 earnings per share. As a group, sell-side analysts expect that Alphabet Inc. will post 7.69 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently declared a — dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 10th will be issued a $0.20 dividend. The ex-dividend date is Monday, June 10th. Alphabet’s dividend payout ratio is currently 12.27%.

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $148.78, for a total value of $3,347,550.00. Following the completion of the transaction, the chief executive officer now owns 2,310,191 shares of the company’s stock, valued at $343,710,216.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $148.78, for a total value of $3,347,550.00. Following the completion of the transaction, the chief executive officer now owns 2,310,191 shares of the company’s stock, valued at $343,710,216.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John L. Hennessy sold 1,500 shares of the stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $177.92, for a total value of $266,880.00. Following the transaction, the director now directly owns 3,727 shares in the company, valued at approximately $663,107.84. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 158,458 shares of company stock valued at $25,731,103. Insiders own 12.99% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on GOOG. Morgan Stanley restated an “overweight” rating and set a $165.00 price target on shares of Alphabet in a research note on Thursday, April 11th. Stifel Nicolaus upped their price target on Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Finally, Oppenheimer upped their price target on Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research note on Monday, April 8th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Alphabet currently has an average rating of “Buy” and an average price target of $165.67.

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.