Jacobsen Capital Management Sells 1,041 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Jacobsen Capital Management cut its position in Alphabet Inc. (NASDAQ:GOOGL) by 5.1% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 19,324 shares of the information services provider’s stock after selling 1,041 shares during the quarter. Alphabet makes up approximately 1.3% of Jacobsen Capital Management’s investment portfolio, making the stock its 13th largest holding. Jacobsen Capital Management’s holdings in Alphabet were worth $3,205,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of GOOGL. China Universal Asset Management Co. Ltd. increased its stake in Alphabet by 70.6% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 101,230 shares of the information services provider’s stock valued at $15,279,000 after purchasing an additional 41,880 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its position in Alphabet by 3.9% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 282,445 shares of the information services provider’s stock worth $42,629,000 after purchasing an additional 10,543 shares in the last quarter. BW Gestao de Investimentos Ltda. grew its stake in shares of Alphabet by 40.6% during the 1st quarter. BW Gestao de Investimentos Ltda. now owns 28,593 shares of the information services provider’s stock worth $4,316,000 after purchasing an additional 8,250 shares during the period. Tobam increased its holdings in shares of Alphabet by 5.2% during the 1st quarter. Tobam now owns 15,115 shares of the information services provider’s stock valued at $2,281,000 after purchasing an additional 752 shares in the last quarter. Finally, Choreo LLC lifted its stake in shares of Alphabet by 9.2% in the 1st quarter. Choreo LLC now owns 115,397 shares of the information services provider’s stock valued at $17,417,000 after purchasing an additional 9,675 shares during the period. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Down 1.3 %

Shares of NASDAQ GOOGL opened at $178.35 on Monday. The business has a 50-day moving average of $163.54 and a two-hundred day moving average of $169.67. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The company has a market capitalization of $2.18 trillion, a price-to-earnings ratio of 23.65, a price-to-earnings-growth ratio of 1.25 and a beta of 1.03. Alphabet Inc. has a 1 year low of $127.90 and a 1 year high of $191.75.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping the consensus estimate of $1.83 by $0.29. The company had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same quarter in the previous year, the company posted $1.55 earnings per share. On average, analysts forecast that Alphabet Inc. will post 7.99 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.45%. Alphabet’s dividend payout ratio (DPR) is 10.61%.

Analysts Set New Price Targets

A number of analysts have recently commented on GOOGL shares. Guggenheim boosted their price objective on Alphabet from $195.00 to $205.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Phillip Securities upgraded Alphabet to a “strong-buy” rating in a report on Friday, November 1st. Loop Capital upped their target price on Alphabet from $170.00 to $185.00 and gave the company a “hold” rating in a report on Wednesday, November 6th. Morgan Stanley lifted their price target on Alphabet from $190.00 to $205.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Finally, Rosenblatt Securities reissued a “neutral” rating and issued a $181.00 price objective on shares of Alphabet in a report on Wednesday, July 24th. Seven equities research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have issued a strong buy rating to the stock. According to data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and an average target price of $205.90.

Insider Buying and Selling at Alphabet

In related news, CAO Amie Thuener O’toole sold 2,835 shares of Alphabet stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total value of $429,587.55. Following the transaction, the chief accounting officer now directly owns 29,182 shares in the company, valued at $4,421,948.46. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Frances Arnold sold 441 shares of the business’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $171.06, for a total transaction of $75,437.46. Following the sale, the director now owns 16,490 shares of the company’s stock, valued at approximately $2,820,779.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Amie Thuener O’toole sold 2,835 shares of Alphabet stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total value of $429,587.55. Following the transaction, the chief accounting officer now directly owns 29,182 shares of the company’s stock, valued at approximately $4,421,948.46. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 241,752 shares of company stock worth $40,156,829. 11.55% of the stock is currently owned by insiders.

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.