JFG Wealth Management LLC Buys 970 Shares of Alphabet Inc. (NASDAQ:GOOGL)

JFG Wealth Management LLC increased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 48.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 2,981 shares of the information services provider’s stock after purchasing an additional 970 shares during the quarter. JFG Wealth Management LLC’s holdings in Alphabet were worth $495,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of GOOGL. Christopher J. Hasenberg Inc boosted its position in shares of Alphabet by 75.0% during the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after buying an additional 60 shares during the period. Kings Path Partners LLC bought a new stake in shares of Alphabet during the 2nd quarter worth approximately $36,000. Denver PWM LLC bought a new stake in shares of Alphabet during the 2nd quarter worth approximately $41,000. Quarry LP purchased a new position in Alphabet during the 2nd quarter valued at $53,000. Finally, Summit Securities Group LLC bought a new position in Alphabet in the 2nd quarter valued at $55,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Activity at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $167.66, for a total value of $3,772,350.00. Following the sale, the chief executive officer now directly owns 2,159,885 shares of the company’s stock, valued at approximately $362,126,319.10. This represents a 1.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $180.78, for a total value of $1,898,190.00. Following the sale, the director now directly owns 330,466 shares in the company, valued at $59,741,643.48. This represents a 3.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 206,795 shares of company stock worth $34,471,141 over the last quarter. Insiders own 11.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on GOOGL. China Renaissance raised shares of Alphabet from a “hold” rating to a “buy” rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. boosted their price objective on shares of Alphabet from $200.00 to $208.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Pivotal Research upped their target price on shares of Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Citigroup lifted their price target on shares of Alphabet from $190.00 to $212.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Finally, Truist Financial increased their price objective on Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Seven research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $205.90.

Alphabet Trading Up 1.6 %

Shares of Alphabet stock opened at $175.30 on Tuesday. The firm’s 50 day simple moving average is $166.15 and its two-hundred day simple moving average is $170.28. The firm has a market capitalization of $2.15 trillion, a price-to-earnings ratio of 23.25, a PEG ratio of 1.23 and a beta of 1.03. Alphabet Inc. has a 12-month low of $127.90 and a 12-month high of $191.75. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The firm had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $72.85 billion. During the same period in the prior year, the firm earned $1.55 EPS. Analysts predict that Alphabet Inc. will post 7.99 EPS for the current year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is 10.61%.

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.