Jacobsen Capital Management Cuts Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Jacobsen Capital Management decreased its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,646 shares of the information services provider’s stock after selling 743 shares during the period. Alphabet makes up approximately 1.3% of Jacobsen Capital Management’s investment portfolio, making the stock its 14th biggest position. Jacobsen Capital Management’s holdings in Alphabet were worth $2,883,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Anderson Financial Strategies LLC purchased a new position in shares of Alphabet in the 4th quarter worth approximately $49,000. EQ Wealth Advisors LLC purchased a new position in Alphabet during the first quarter worth $49,000. Navigoe LLC purchased a new position in shares of Alphabet during the 4th quarter worth about $51,000. Prudent Man Investment Management Inc. purchased a new position in shares of Alphabet during the 4th quarter worth about $53,000. Finally, Campbell Capital Management Inc. purchased a new position in shares of Alphabet during the 4th quarter worth about $57,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Trading Up 0.2%

NASDAQ GOOGL opened at $179.08 on Friday. The stock has a market cap of $2.17 trillion, a P/E ratio of 19.96, a P/E/G ratio of 1.26 and a beta of 1.00. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.03. The company has a fifty day simple moving average of $168.70 and a two-hundred day simple moving average of $173.87. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $207.05.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.79. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The company had revenue of $76.49 billion during the quarter, compared to analyst estimates of $89.30 billion. During the same quarter last year, the business posted $1.89 EPS. On average, analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were given a dividend of $0.21 per share. The ex-dividend date was Monday, June 9th. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 0.47%. Alphabet’s dividend payout ratio (DPR) is currently 9.36%.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of several recent analyst reports. Morgan Stanley dropped their target price on Alphabet from $210.00 to $185.00 and set an “overweight” rating for the company in a research report on Thursday, April 17th. Needham & Company LLC restated a “buy” rating and set a $178.00 price objective on shares of Alphabet in a report on Friday, April 25th. DA Davidson dropped their price objective on Alphabet from $200.00 to $160.00 and set a “neutral” rating for the company in a report on Monday, April 14th. Rosenblatt Securities reissued a “neutral” rating and set a $189.00 target price on shares of Alphabet in a research note on Wednesday, May 21st. Finally, Citizens Jmp raised shares of Alphabet from a “market perform” rating to an “outperform” rating and set a $220.00 target price for the company in a research note on Friday, June 27th. Ten equities research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $199.95.

Insiders Place Their Bets

In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of Alphabet stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $1,837,500.00. Following the completion of the transaction, the director owned 261,966 shares in the company, valued at approximately $45,844,050. This trade represents a 3.85% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $170.87, for a total value of $5,553,275.00. Following the transaction, the chief executive officer owned 2,620,196 shares of the company’s stock, valued at $447,712,890.52. The trade was a 1.23% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 215,643 shares of company stock valued at $36,330,928. 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.