Alphabet Inc. $GOOGL Shares Sold by Jupiter Wealth Management LLC

Jupiter Wealth Management LLC lessened its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 6.5% during the 1st quarter, Holdings Channel reports. The firm owned 93,087 shares of the information services provider’s stock after selling 6,487 shares during the quarter. Alphabet comprises 9.9% of Jupiter Wealth Management LLC’s investment portfolio, making the stock its biggest holding. Jupiter Wealth Management LLC’s holdings in Alphabet were worth $15,503,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of GOOGL. Brighton Jones LLC increased its position in Alphabet by 3.9% during the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock worth $20,886,000 after buying an additional 4,110 shares in the last quarter. Revolve Wealth Partners LLC increased its position in Alphabet by 3.5% during the 4th quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock worth $2,826,000 after purchasing an additional 506 shares in the last quarter. Highview Capital Management LLC DE increased its position in Alphabet by 3.6% during the 4th quarter. Highview Capital Management LLC DE now owns 29,100 shares of the information services provider’s stock worth $5,509,000 after purchasing an additional 1,003 shares in the last quarter. Forum Financial Management LP raised its stake in Alphabet by 6.4% in the 4th quarter. Forum Financial Management LP now owns 79,160 shares of the information services provider’s stock valued at $14,985,000 after purchasing an additional 4,756 shares during the last quarter. Finally, Triumph Capital Management lifted its holdings in Alphabet by 1.6% in the 4th quarter. Triumph Capital Management now owns 5,470 shares of the information services provider’s stock valued at $1,036,000 after purchasing an additional 88 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Alphabet

In related news, Director Kavitark Ram Shriram sold 18,566 shares of the firm’s stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $3,448,820.16. Following the transaction, the director owned 243,400 shares in the company, valued at approximately $45,213,984. This trade represents a 7.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director John L. Hennessy sold 1,000 shares of Alphabet stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $200.00, for a total transaction of $200,000.00. Following the transaction, the director directly owned 6,916 shares in the company, valued at approximately $1,383,200. This trade represents a 12.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 254,710 shares of company stock valued at $49,208,380. 11.55% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have recently commented on GOOGL. KeyCorp lifted their price target on shares of Alphabet from $230.00 to $265.00 and gave the stock an “overweight” rating in a report on Wednesday, September 3rd. Citigroup restated an “outperform” rating on shares of Alphabet in a research report on Wednesday, September 3rd. Roth Capital lifted their target price on shares of Alphabet from $205.00 to $210.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. Phillip Securities downgraded Alphabet from a “strong-buy” rating to a “moderate buy” rating in a report on Monday. Finally, Sanford C. Bernstein increased their price target on Alphabet from $185.00 to $195.00 and gave the stock a “market perform” rating in a research note on Tuesday, July 22nd. Three research analysts have rated the stock with a Strong Buy rating, thirty-two have issued a Buy rating and ten have given a Hold rating to the company. According to MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and an average target price of $221.44.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $239.63 on Wednesday. The company has a market cap of $2.90 trillion, a P/E ratio of 25.52, a P/E/G ratio of 1.57 and a beta of 1.01. The firm’s 50 day moving average is $198.22 and its two-hundred day moving average is $176.17. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $240.47. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.

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

Alphabet Dividend Announcement

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

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.