Jericho Financial LLP Sells 358 Shares of Alphabet Inc. $GOOGL

Jericho Financial LLP reduced its stake in Alphabet Inc. (NASDAQ:GOOGL) by 1.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 36,839 shares of the information services provider’s stock after selling 358 shares during the period. Alphabet makes up approximately 4.3% of Jericho Financial LLP’s holdings, making the stock its 8th largest holding. Jericho Financial LLP’s holdings in Alphabet were worth $6,492,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Guardian Wealth Management Inc. boosted its stake in Alphabet by 242.9% in the first 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 during the last quarter. IMA Advisory Services Inc. bought a new stake in shares of Alphabet in the 1st quarter worth approximately $28,000. von Borstel & Associates Inc. purchased a new position in Alphabet in the first quarter valued at approximately $28,000. NBZ Investment Advisors LLC grew its holdings in 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 during the period. Finally, Financial Gravity Asset Management Inc. purchased a new stake in Alphabet in the first quarter worth $39,000. Institutional investors own 40.03% of the company’s stock.

Alphabet Trading Down 2.1%

Shares of Alphabet stock opened at $278.83 on Friday. The company’s 50-day moving average price is $251.23 and its 200-day moving average price is $204.19. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $291.59. The company has a market cap of $3.37 trillion, a price-to-earnings ratio of 27.50, a PEG ratio of 1.86 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The business had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. On average, equities analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

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

Analysts Set New Price Targets

A number of brokerages have recently commented on GOOGL. JMP Securities reaffirmed a “market outperform” rating and set a $290.00 price target on shares of Alphabet in a research report on Wednesday, October 22nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Alphabet in a report on Wednesday, October 8th. Citigroup reiterated a “buy” rating and set a $343.00 target price (up previously from $280.00) on shares of Alphabet in a research report on Thursday, October 30th. Citizens Jmp boosted their price target on shares of Alphabet from $250.00 to $290.00 and gave the company an “outperform” rating in a research report on Friday, September 19th. Finally, JPMorgan Chase & Co. upped their price target on shares of Alphabet from $300.00 to $340.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Three analysts have rated the stock with a Strong Buy rating, thirty-eight have given a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and an average target price of $304.10.

Insider Buying and Selling

In related news, Director John L. Hennessy sold 600 shares of Alphabet stock in a transaction on Monday, October 13th. The stock was sold at an average price of $242.92, for a total transaction of $145,752.00. Following the completion of the sale, the director owned 5,116 shares of the company’s stock, valued at approximately $1,242,778.72. This trade represents a 10.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 954 shares of the business’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $282.33, for a total value of $269,342.82. Following the transaction, the chief accounting officer owned 14,517 shares of the company’s stock, valued at approximately $4,098,584.61. The trade was a 6.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 222,396 shares of company stock valued at $54,105,275 in the last ninety days. 11.64% of the stock is owned by insiders.

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.