Axxcess Wealth Management LLC Raises Holdings in Alphabet Inc. $GOOGL

Axxcess Wealth Management LLC boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 4.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 196,114 shares of the information services provider’s stock after acquiring an additional 8,445 shares during the quarter. Alphabet comprises 0.8% of Axxcess Wealth Management LLC’s holdings, making the stock its 29th largest holding. Axxcess Wealth Management LLC’s holdings in Alphabet were worth $33,438,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of GOOGL. Missouri Trust & Investment Co boosted its stake in Alphabet by 0.3% in the second quarter. Missouri Trust & Investment Co now owns 16,916 shares of the information services provider’s stock valued at $2,981,000 after acquiring an additional 55 shares in the last quarter. AM Investment Strategies LLC increased its stake in Alphabet by 0.9% in the 2nd quarter. AM Investment Strategies LLC now owns 6,477 shares of the information services provider’s stock valued at $1,141,000 after buying an additional 57 shares during the period. Bfsg LLC raised its holdings in Alphabet by 0.6% during the second quarter. Bfsg LLC now owns 10,428 shares of the information services provider’s stock worth $1,838,000 after purchasing an additional 59 shares in the last quarter. Financial Council LLC lifted its holdings in shares of Alphabet by 1.0% in the 2nd quarter. Financial Council LLC now owns 5,800 shares of the information services provider’s stock valued at $1,022,000 after buying an additional 60 shares during the period. Finally, Enzi Wealth lifted its holdings in Alphabet by 2.5% in the first quarter. Enzi Wealth now owns 2,561 shares of the information services provider’s stock valued at $408,000 after acquiring an additional 62 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on GOOGL. KeyCorp lifted their target price on shares of Alphabet from $230.00 to $265.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 3rd. Mizuho set a $295.00 price objective on Alphabet and gave the stock an “outperform” rating in a report on Monday, September 29th. Morgan Stanley set a $270.00 price objective on Alphabet and gave the company an “overweight” rating in a research report on Thursday, October 2nd. Stifel Nicolaus upped their target price on Alphabet from $222.00 to $292.00 and gave the company a “buy” rating in a research note on Friday. Finally, Jefferies Financial Group raised their price target on Alphabet from $230.00 to $285.00 and gave the stock a “buy” rating in a research note on Thursday, October 2nd. Four investment analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $263.20.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $259.92 on Friday. The firm has a 50-day moving average of $236.72 and a two-hundred day moving average of $195.25. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The stock has a market cap of $3.14 trillion, a P/E ratio of 27.68, a PEG ratio of 1.71 and a beta of 1.00. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $261.68.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping the consensus estimate of $2.15 by $0.16. The business had revenue of $96.43 billion for the quarter, compared to analysts’ expectations of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. On average, research analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Insider Activity at Alphabet

In other news, insider John Kent Walker sold 17,816 shares of the firm’s stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the completion of the sale, the insider owned 42,985 shares of the company’s stock, valued at approximately $10,635,348.70. This trade represents a 29.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $250.15, for a total transaction of $8,129,875.00. Following the completion of the sale, the chief executive officer directly owned 2,369,619 shares in the company, valued at $592,760,192.85. This represents a 1.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 246,150 shares of company stock worth $55,805,379 over the last ninety days. Company insiders own 11.64% of the company’s stock.

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.