Jackson Wealth Management LLC Increases Position in Alphabet Inc. $GOOGL

Jackson Wealth Management LLC boosted its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.4% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 43,711 shares of the information services provider’s stock after purchasing an additional 177 shares during the period. Jackson Wealth Management LLC’s holdings in Alphabet were worth $7,703,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in GOOGL. Nuveen LLC bought a new position in shares of Alphabet during the 1st quarter valued at approximately $4,317,606,000. Vanguard Group Inc. raised its position in shares of Alphabet by 2.9% during the 1st quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider’s stock valued at $78,839,544,000 after buying an additional 14,307,345 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Alphabet by 11.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 43,865,520 shares of the information services provider’s stock worth $6,783,364,000 after buying an additional 4,473,901 shares during the last quarter. Amundi increased its stake in Alphabet by 11.8% in the first quarter. Amundi now owns 33,403,871 shares of the information services provider’s stock worth $5,034,992,000 after purchasing an additional 3,537,173 shares during the period. Finally, Evergreen Quality Fund GP Ltd. raised its stake in shares of Alphabet by 178.3% during the first quarter. Evergreen Quality Fund GP Ltd. now owns 4,003,900 shares of the information services provider’s stock valued at $619,163,000 after acquiring an additional 2,565,400 shares in the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $236.57 on Friday. The company’s 50-day moving average is $226.31 and its two-hundred day moving average is $188.49. The firm has a market capitalization of $2.86 trillion, a price-to-earnings ratio of 25.19, a PEG ratio of 1.63 and a beta of 1.00. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $256.00. 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:GOOGL) last issued its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating the consensus estimate of $2.15 by $0.16. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The company had revenue of $96.43 billion during the quarter, compared to analysts’ expectations of $93.60 billion. Analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.4%. Alphabet’s dividend payout ratio (DPR) is currently 8.95%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on GOOGL. Wolfe Research upped their price objective on Alphabet from $220.00 to $290.00 in a research note on Tuesday, September 30th. Bank of America boosted their target price on shares of Alphabet from $210.00 to $217.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Alphabet in a research report on Wednesday. Barclays raised their target price on shares of Alphabet from $235.00 to $250.00 and gave the company an “overweight” rating in a research note on Wednesday, September 3rd. Finally, Oppenheimer restated an “outperform” rating and issued a $270.00 target price (up from $235.00) on shares of Alphabet in a research note on Tuesday, September 2nd. Four analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and an average target price of $245.88.

Insider Buying and Selling

In other news, Director Frances Arnold sold 103 shares of Alphabet stock in a transaction that occurred on Tuesday, September 30th. The shares were sold at an average price of $243.13, for a total transaction of $25,042.39. Following the completion of the sale, the director directly owned 17,284 shares in the company, valued at approximately $4,202,258.92. This trade represents a 0.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 953 shares of Alphabet stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $241.20, for a total transaction of $229,863.60. Following the transaction, the chief accounting officer owned 17,294 shares of the company’s stock, valued at approximately $4,171,312.80. The trade was a 5.22% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 276,738 shares of company stock worth $59,135,475 in the last three months. Company insiders own 11.64% of the company’s stock.

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.