Accent Capital Management LLC Cuts Stake in Alphabet Inc. (NASDAQ:GOOG)

Accent Capital Management LLC decreased its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.1% in the 4th quarter, Holdings Channel reports. The fund owned 92,674 shares of the information services provider’s stock after selling 80 shares during the quarter. Alphabet accounts for approximately 10.1% of Accent Capital Management LLC’s investment portfolio, making the stock its 4th biggest position. Accent Capital Management LLC’s holdings in Alphabet were worth $17,566,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in GOOG. Tsai Capital Corp raised its stake in shares of Alphabet by 12.5% in the 4th quarter. Tsai Capital Corp now owns 33,305 shares of the information services provider’s stock valued at $6,343,000 after purchasing an additional 3,703 shares during the period. Michael A. Dubis Financial Planning LLC acquired a new stake in Alphabet in the 4th quarter valued at approximately $209,000. WealthTrak Capital Management LLC bought a new stake in Alphabet in the 4th quarter valued at approximately $38,000. Hobbs Group Advisors LLC raised its holdings in shares of Alphabet by 66.6% in the fourth quarter. Hobbs Group Advisors LLC now owns 5,904 shares of the information services provider’s stock valued at $1,124,000 after purchasing an additional 2,360 shares during the last quarter. Finally, Allstate Corp boosted its holdings in Alphabet by 3,178.3% during the fourth quarter. Allstate Corp now owns 149,294 shares of the information services provider’s stock worth $28,432,000 after purchasing an additional 144,740 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Trading Down 4.9 %

Shares of Alphabet stock opened at $156.06 on Friday. The firm has a market cap of $1.90 trillion, a PE ratio of 19.39, a P/E/G ratio of 1.34 and a beta of 1.03. Alphabet Inc. has a 1 year low of $148.20 and a 1 year high of $208.70. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The stock has a fifty day moving average price of $181.53 and a 200-day moving average price of $178.31.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. Equities research analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

The company also recently declared 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 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 is presently 9.94%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Cantor Fitzgerald reissued a “neutral” rating and set a $200.00 price target on shares of Alphabet in a research report on Wednesday, March 19th. Citizens Jmp cut shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Scotiabank upped their price target on shares of Alphabet from $212.00 to $240.00 and gave the stock a “sector outperform” rating in a research report on Friday, January 24th. Benchmark reaffirmed a “negative” rating on shares of Alphabet in a report on Wednesday, February 5th. Finally, Needham & Company LLC reiterated a “buy” rating on shares of Alphabet in a report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have assigned a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $208.56.

Insider Transactions at Alphabet

In other news, insider John Kent Walker sold 11,764 shares of Alphabet stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $166.84, for a total value of $1,962,705.76. Following the completion of the transaction, the insider now owns 49,037 shares in the company, valued at $8,181,333.08. This trade represents a 19.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John L. Hennessy sold 200 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The shares were 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 in the company, valued at $1,293,285.89. The trade was a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 104,812 shares of company stock worth $19,336,979. 12.99% of the stock is owned by company insiders.

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.