Jackson Financial Management Acquires Shares of 179 Alphabet Inc (NASDAQ:GOOGL)

Jackson Financial Management acquired a new stake in Alphabet Inc (NASDAQ:GOOGL) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 179 shares of the information services provider’s stock, valued at approximately $219,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in GOOGL. Thoroughbred Financial Services LLC boosted its position in shares of Alphabet by 205,910.9% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 3,393,000 shares of the information services provider’s stock worth $339,300,000 after purchasing an additional 3,391,353 shares in the last quarter. Nuveen Asset Management LLC boosted its position in shares of Alphabet by 2,010.7% during the 2nd quarter. Nuveen Asset Management LLC now owns 2,214,432 shares of the information services provider’s stock worth $2,397,786,000 after purchasing an additional 2,109,515 shares in the last quarter. Invesco Ltd. boosted its position in shares of Alphabet by 37.1% during the 2nd quarter. Invesco Ltd. now owns 4,752,079 shares of the information services provider’s stock worth $5,145,551,000 after purchasing an additional 1,285,824 shares in the last quarter. Packer & Co Ltd boosted its position in shares of Alphabet by 4,018.6% during the 2nd quarter. Packer & Co Ltd now owns 958,600 shares of the information services provider’s stock worth $25,202,000 after purchasing an additional 935,325 shares in the last quarter. Finally, Veritas Asset Management LLP boosted its position in shares of Alphabet by 52.9% during the 2nd quarter. Veritas Asset Management LLP now owns 1,028,976 shares of the information services provider’s stock worth $1,114,175,000 after purchasing an additional 355,900 shares in the last quarter. 33.56% of the stock is currently owned by institutional investors.

Shares of NASDAQ GOOGL traded up $26.45 on Thursday, reaching $1,317.46. 85,197 shares of the company traded hands, compared to its average volume of 1,378,191. Alphabet Inc has a fifty-two week low of $977.66 and a fifty-two week high of $1,299.24. The company has a 50 day moving average of $1,238.20 and a 200 day moving average of $1,180.63. The company has a current ratio of 3.78, a quick ratio of 3.75 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $894.21 billion, a PE ratio of 27.73, a P/E/G ratio of 1.57 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Monday, October 28th. The information services provider reported $10.12 EPS for the quarter, missing the Zacks’ consensus estimate of $12.42 by ($2.30). Alphabet had a net margin of 21.04% and a return on equity of 18.34%. The company had revenue of $33.01 billion for the quarter, compared to analyst estimates of $32.84 billion. During the same period in the prior year, the company earned $13.06 EPS. As a group, research analysts expect that Alphabet Inc will post 49.05 earnings per share for the current year.

GOOGL has been the topic of several recent research reports. Canaccord Genuity boosted their price objective on shares of Alphabet from $1,350.00 to $1,450.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. Bank of America reiterated a “buy” rating and issued a $1,450.00 price objective on shares of Alphabet in a research report on Thursday, October 24th. SunTrust Banks reiterated a “buy” rating and issued a $1,400.00 price objective on shares of Alphabet in a research report on Monday, October 28th. They noted that the move was a valuation call. KeyCorp boosted their price objective on shares of Alphabet from $1,516.00 to $1,546.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 29th. Finally, Jefferies Financial Group boosted their price objective on shares of Alphabet from $1,500.00 to $1,550.00 in a research report on Tuesday, October 29th. Seven equities research analysts have rated the stock with a hold rating and thirty-two have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $1,406.25.

Alphabet Profile

Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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