Accredited Investors Inc. Acquires 598 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Accredited Investors Inc. raised its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 3.8% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 16,277 shares of the information services provider’s stock after acquiring an additional 598 shares during the quarter. Accredited Investors Inc.’s holdings in Alphabet were worth $3,081,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Compass Planning Associates Inc purchased a new position in Alphabet during the 4th quarter worth $30,000. E Fund Management Hong Kong Co. Ltd. increased its stake in shares of Alphabet by 518.8% during the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock valued at $37,000 after buying an additional 166 shares during the period. Fiduciary Advisors Inc. purchased a new position in shares of Alphabet during the fourth quarter valued at $39,000. PayPay Securities Corp lifted its stake in Alphabet by 36.1% in the fourth quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock worth $46,000 after acquiring an additional 65 shares during the period. Finally, Denver PWM LLC grew its holdings in Alphabet by 25.4% during the 3rd quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock worth $47,000 after acquiring an additional 57 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Stock Down 1.7 %

GOOGL stock opened at $156.31 on Wednesday. Alphabet Inc. has a one year low of $140.53 and a one year high of $207.05. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. The firm’s fifty day moving average is $167.17 and its 200 day moving average is $176.14. The firm has a market cap of $1.91 trillion, a PE ratio of 19.42, a P/E/G ratio of 1.34 and a beta of 1.03.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. On average, research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.51%. Alphabet’s dividend payout ratio (DPR) is 9.94%.

Insider Activity at Alphabet

In other news, Director John L. Hennessy sold 200 shares of the stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $161.90, for a total value of $32,380.00. Following the completion of the sale, the director now directly owns 7,613 shares in the company, valued at $1,232,544.70. This represents a 2.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total transaction of $5,153,200.00. Following the transaction, the chief executive officer now owns 2,717,696 shares in the company, valued at $430,917,877.76. The trade was a 1.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 115,663 shares of company stock valued at $20,286,447. 11.55% of the stock is owned by company insiders.

Analyst Ratings Changes

GOOGL has been the subject of several research reports. Morgan Stanley lowered their price target on shares of Alphabet from $215.00 to $210.00 and set an “overweight” rating for the company in a research report on Wednesday, February 5th. Needham & Company LLC reaffirmed a “buy” rating and set a $225.00 target price on shares of Alphabet in a research report on Wednesday, February 5th. Piper Sandler reduced their price target on Alphabet from $208.00 to $185.00 and set an “overweight” rating for the company in a research report on Thursday, April 10th. Westpark Capital upgraded Alphabet to a “strong-buy” rating in a research note on Tuesday, April 1st. Finally, Jefferies Financial Group reduced their target price on shares of Alphabet from $235.00 to $200.00 and set a “buy” rating for the company in a report on Monday, March 31st. Ten research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and five have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $204.72.

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.