Jupiter Asset Management Ltd. Has $95.15 Million Stock Holdings in Alphabet Inc. $GOOGL

Jupiter Asset Management Ltd. decreased its stake in Alphabet Inc. (NASDAQ:GOOGL) by 50.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 539,891 shares of the information services provider’s stock after selling 555,408 shares during the period. Alphabet comprises about 0.8% of Jupiter Asset Management Ltd.’s holdings, making the stock its 23rd largest holding. Jupiter Asset Management Ltd.’s holdings in Alphabet were worth $95,145,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Guardian Wealth Management Inc. boosted its holdings in shares of Alphabet by 242.9% during the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock valued at $26,000 after acquiring an additional 119 shares in the last quarter. IMA Advisory Services Inc. bought a new position in Alphabet in the first quarter valued at about $28,000. NBZ Investment Advisors LLC boosted its stake in shares of Alphabet by 85.7% during the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock valued at $30,000 after purchasing an additional 90 shares in the last quarter. CarsonAllaria Wealth Management Ltd. increased its stake in shares of Alphabet by 36.4% in the second quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider’s stock valued at $44,000 after buying an additional 67 shares during the period. Finally, MJT & Associates Financial Advisory Group Inc. acquired a new position in shares of Alphabet in the first quarter valued at approximately $50,000. Institutional investors own 40.03% of the company’s stock.

Insider Activity at Alphabet

In related news, insider John Kent Walker sold 17,816 shares of the stock in a transaction 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 transaction, the insider directly owned 42,985 shares of the company’s stock, valued at $10,635,348.70. This represents a 29.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet 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 of the company’s stock, valued at approximately $592,760,192.85. This trade represents a 1.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 225,174 shares of company stock worth $58,095,223 in the last quarter. Company insiders own 11.64% of the company’s stock.

Alphabet Stock Up 6.3%

Shares of NASDAQ:GOOGL opened at $318.58 on Tuesday. The company has a market capitalization of $3.84 trillion, a price-to-earnings ratio of 31.42, a P/E/G ratio of 1.86 and a beta of 1.05. 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 business’s 50-day moving average is $263.73 and its 200-day moving average is $215.00. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $319.48.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, topping the consensus estimate of $2.29 by $0.58. The business had revenue of $102.35 billion during the quarter, compared to analysts’ expectations of $99.90 billion. Alphabet had a return on equity of 36.08% and a net margin of 32.23%. Equities research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be paid a $0.21 dividend. The ex-dividend date is Monday, December 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. Alphabet’s payout ratio is currently 8.28%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Cantor Fitzgerald boosted their target price on shares of Alphabet from $265.00 to $310.00 and gave the stock a “neutral” rating in a report on Thursday, October 30th. Canaccord Genuity Group boosted their price objective on shares of Alphabet from $270.00 to $330.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Hsbc Global Res upgraded Alphabet to a “strong-buy” rating in a report on Tuesday, October 7th. BNP Paribas Exane assumed coverage on Alphabet in a report on Monday. They set an “outperform” rating and a $355.00 target price on the stock. Finally, Phillip Securities raised Alphabet from a “moderate buy” rating to a “strong-buy” rating in a research note on Friday, November 7th. Four investment analysts have rated the stock with a Strong Buy rating, forty-one have given a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and an average price target of $307.65.

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.