Jacobsen Capital Management Grows Stake in Alphabet Inc. (NASDAQ:GOOGL)

Jacobsen Capital Management raised its holdings in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 1,881.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 29,679 shares of the information services provider’s stock after acquiring an additional 28,181 shares during the period. Alphabet makes up approximately 1.6% of Jacobsen Capital Management’s investment portfolio, making the stock its 12th largest position. Jacobsen Capital Management’s holdings in Alphabet were worth $2,839,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Artemis Wealth Advisors LLC lifted its position in Alphabet by 1,900.0% during the third quarter. Artemis Wealth Advisors LLC now owns 280 shares of the information services provider’s stock worth $27,000 after buying an additional 266 shares in the last quarter. Horizons Wealth Management purchased a new position in Alphabet during the second quarter worth approximately $33,000. Schubert & Co lifted its position in Alphabet by 1,200.0% during the third quarter. Schubert & Co now owns 364 shares of the information services provider’s stock worth $35,000 after buying an additional 336 shares in the last quarter. Carolina Wealth Advisors LLC lifted its position in Alphabet by 1,900.0% during the third quarter. Carolina Wealth Advisors LLC now owns 400 shares of the information services provider’s stock worth $38,000 after buying an additional 380 shares in the last quarter. Finally, Cardinal Capital Management Inc. purchased a new stake in Alphabet in the second quarter valued at $41,000. 34.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Evercore ISI reduced their target price on Alphabet from $130.00 to $120.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 21st. Atlantic Securities reduced their target price on Alphabet to $115.00 in a research report on Thursday, October 27th. Wells Fargo & Company reduced their target price on Alphabet from $160.00 to $145.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 26th. Morgan Stanley reduced their target price on Alphabet from $125.00 to $120.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 15th. Finally, Mizuho cut their price objective on Alphabet from $140.00 to $135.00 and set a “buy” rating on the stock in a report on Wednesday, November 30th. Five investment analysts have rated the stock with a hold rating, thirty-two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $132.00.

Insider Activity at Alphabet

In related news, SVP Prabhakar Raghavan sold 22,203 shares of Alphabet stock in a transaction on Tuesday, January 3rd. The shares were sold at an average price of $89.75, for a total value of $1,992,719.25. Following the transaction, the senior vice president now directly owns 76,579 shares in the company, valued at approximately $6,872,965.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, major shareholder 2019 Gp L.L.C. Gv acquired 800,000 shares of the stock in a transaction that occurred on Monday, October 24th. The shares were purchased at an average cost of $17.00 per share, for a total transaction of $13,600,000.00. Following the transaction, the insider now directly owns 11,522,248 shares in the company, valued at approximately $195,878,216. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Prabhakar Raghavan sold 22,203 shares of the business’s stock in a transaction on Tuesday, January 3rd. The stock was sold at an average price of $89.75, for a total transaction of $1,992,719.25. Following the sale, the senior vice president now owns 76,579 shares in the company, valued at $6,872,965.25. The disclosure for this sale can be found here. In the last three months, insiders have bought 1,461,702 shares of company stock worth $36,999,217 and have sold 190,744 shares worth $8,564,640. 11.44% of the stock is currently owned by insiders.

Alphabet Stock Down 0.9 %

Alphabet stock opened at $91.29 on Wednesday. Alphabet Inc. has a fifty-two week low of $83.34 and a fifty-two week high of $151.55. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.47 and a current ratio of 2.52. The company has a market capitalization of $1.18 trillion, a P/E ratio of 18.13, a PEG ratio of 1.62 and a beta of 1.09. The stock has a 50-day simple moving average of $92.94 and a 200-day simple moving average of $101.88.

Alphabet (NASDAQ:GOOGL – Get Rating) last issued its quarterly earnings results on Tuesday, October 25th. The information services provider reported $1.06 earnings per share for the quarter, missing the consensus estimate of $1.25 by ($0.19). Alphabet had a return on equity of 26.41% and a net margin of 23.75%. The company had revenue of $57.27 billion for the quarter, compared to analyst estimates of $58.36 billion. During the same period in the prior year, the business earned $1.40 earnings per share. Equities research analysts expect that Alphabet Inc. will post 4.68 earnings per share for the current year.

Alphabet Profile

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Alphabet Inc provides 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 offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.