Jupiter Asset Management Ltd. Buys 10,165 Shares of Alphabet Inc. (NASDAQ:GOOG)

Jupiter Asset Management Ltd. raised its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 629,150 shares of the information services provider’s stock after purchasing an additional 10,165 shares during the quarter. Alphabet accounts for about 0.9% of Jupiter Asset Management Ltd.’s holdings, making the stock its 12th biggest holding. Jupiter Asset Management Ltd.’s holdings in Alphabet were worth $98,292,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Concentrum Wealth Management increased its position in shares of Alphabet by 0.3% during the 4th quarter. Concentrum Wealth Management now owns 17,328 shares of the information services provider’s stock valued at $3,300,000 after purchasing an additional 57 shares during the last quarter. JDM Financial Group LLC grew its stake in shares of Alphabet by 10.6% in the fourth quarter. JDM Financial Group LLC now owns 593 shares of the information services provider’s stock worth $113,000 after purchasing an additional 57 shares during the last quarter. Kidder Stephen W grew its stake in shares of Alphabet by 1.6% in the fourth quarter. Kidder Stephen W now owns 3,608 shares of the information services provider’s stock worth $687,000 after purchasing an additional 58 shares during the last quarter. Objectivity Squared LLC grew its stake in shares of Alphabet by 0.4% in the first quarter. Objectivity Squared LLC now owns 16,342 shares of the information services provider’s stock worth $2,605,000 after purchasing an additional 62 shares during the last quarter. Finally, Tranquility Partners LLC raised its stake in Alphabet by 0.4% in the first quarter. Tranquility Partners LLC now owns 14,488 shares of the information services provider’s stock worth $2,263,000 after buying an additional 63 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

GOOG has been the subject of a number of research reports. Wells Fargo & Company reissued an “equal weight” rating on shares of Alphabet in a research note on Wednesday, July 9th. Roth Capital restated a “buy” rating on shares of Alphabet in a research note on Wednesday, July 9th. Citigroup reaffirmed a “sell” rating on shares of Alphabet in a research report on Wednesday, April 23rd. Piper Sandler restated a “neutral” rating on shares of Alphabet in a research note on Wednesday, July 9th. Finally, BNP Paribas downgraded Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, June 26th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have issued a buy rating and five have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and a consensus target price of $215.19.

Alphabet Trading Down 1.5%

Shares of GOOG opened at $189.95 on Friday. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $208.70. The company has a 50-day moving average of $179.37 and a 200 day moving average of $174.69. The firm has a market capitalization of $2.31 trillion, a price-to-earnings ratio of 20.23, a PEG ratio of 1.28 and a beta of 1.02. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.19. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The company had revenue of $96.43 billion for the quarter, compared to analysts’ expectations of $93.67 billion. During the same period in the prior year, the business earned $1.89 EPS. The firm’s quarterly revenue was up 13.8% on a year-over-year basis. On average, research analysts expect that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.4%. The ex-dividend date is Monday, September 8th. Alphabet’s dividend payout ratio is presently 8.95%.

Insider Activity

In other Alphabet news, Director Kavitark Ram Shriram sold 18,566 shares of the stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the transaction, the director directly owned 243,400 shares in the company, valued at $45,213,984. This represents a 7.09% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total transaction of $5,801,900.00. Following the transaction, the chief executive officer owned 2,559,892 shares in the company, valued at approximately $456,991,919.84. The trade was a 1.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 249,399 shares of company stock worth $43,525,794. 12.99% of the stock is owned by company insiders.

Alphabet 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.