Accordant Advisory Group Inc Makes New Investment in Alphabet Inc. (NASDAQ:GOOGL)

Accordant Advisory Group Inc bought a new position in shares of Alphabet Inc. (NASDAQ:GOOGL) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,250 shares of the information services provider’s stock, valued at approximately $193,000.

Several other institutional investors have also recently made changes to their positions in the stock. Compass Planning Associates Inc purchased a new stake in shares of Alphabet in the fourth quarter worth $30,000. PayPay Securities Corp raised its position in shares of 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 buying an additional 65 shares in the last quarter. Anderson Financial Strategies LLC purchased a new stake in Alphabet during the fourth quarter valued at about $49,000. Navigoe LLC purchased a new stake in Alphabet during the fourth quarter valued at about $51,000. Finally, Prudent Man Investment Management Inc. purchased a new stake in Alphabet during the fourth quarter valued at about $53,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Buying and Selling at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $155.90, for a total transaction of $5,066,750.00. Following the completion of the transaction, the chief executive officer now directly owns 2,652,696 shares in the company, valued at $413,555,306.40. This trade represents a 1.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 673 shares of the firm’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $155.33, for a total value of $104,537.09. Following the transaction, the chief accounting officer now owns 15,303 shares of the company’s stock, valued at $2,377,014.99. The trade was a 4.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 195,570 shares of company stock valued at $32,003,532. 11.64% of the stock is currently owned by company insiders.

Alphabet Stock Performance

Shares of Alphabet stock opened at $174.67 on Friday. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $2.12 trillion, a P/E ratio of 21.70, a P/E/G ratio of 1.34 and a beta of 1.01. The business has a fifty day simple moving average of $162.89 and a two-hundred day simple moving average of $174.61. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $207.05.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, beating the consensus estimate of $2.02 by $0.79. The business had revenue of $76.49 billion during the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. During the same quarter last year, the firm posted $1.89 earnings per share. On average, equities analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, June 9th. This represents a $0.84 annualized dividend and a yield of 0.48%. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s dividend payout ratio (DPR) is currently 9.36%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Bank of America raised their price target on Alphabet from $185.00 to $200.00 and gave the company a “buy” rating in a research report on Friday, April 25th. Citigroup raised their price target on Alphabet from $195.00 to $200.00 and gave the company a “buy” rating in a research report on Friday, April 25th. Cantor Fitzgerald lowered their price target on Alphabet from $200.00 to $159.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 16th. Susquehanna reduced their price objective on Alphabet from $225.00 to $220.00 and set a “positive” rating on the stock in a research note on Friday, April 25th. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and set a $189.00 price objective on shares of Alphabet in a research note on Wednesday, May 21st. Ten research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $199.75.

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.