Nabity Jensen Investment Management Inc Boosts Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Nabity Jensen Investment Management Inc raised its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,623 shares of the information services provider’s stock after acquiring an additional 114 shares during the period. Alphabet makes up 1.0% of Nabity Jensen Investment Management Inc’s investment portfolio, making the stock its 24th biggest holding. Nabity Jensen Investment Management Inc’s holdings in Alphabet were worth $1,333,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Addison Advisors LLC grew its holdings in shares of Alphabet by 0.7% during the 4th quarter. Addison Advisors LLC now owns 7,527 shares of the information services provider’s stock worth $1,425,000 after purchasing an additional 53 shares during the period. Burt Wealth Advisors boosted its holdings in Alphabet by 1.0% in the 4th quarter. Burt Wealth Advisors now owns 5,307 shares of the information services provider’s stock worth $1,005,000 after acquiring an additional 54 shares during the period. Perritt Capital Management Inc raised its position in shares of Alphabet by 10.4% in the 4th quarter. Perritt Capital Management Inc now owns 618 shares of the information services provider’s stock valued at $117,000 after purchasing an additional 58 shares in the last quarter. Nia Impact Advisors LLC raised its position in shares of Alphabet by 0.3% in the 4th quarter. Nia Impact Advisors LLC now owns 17,161 shares of the information services provider’s stock valued at $3,249,000 after purchasing an additional 59 shares in the last quarter. Finally, Hanlon Investment Management Inc. raised its position in shares of Alphabet by 1.7% in the 4th quarter. Hanlon Investment Management Inc. now owns 3,553 shares of the information services provider’s stock valued at $673,000 after purchasing an additional 60 shares in the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Alphabet

In related news, Director John L. Hennessy sold 600 shares of the firm’s stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $105,000.00. Following the completion of the transaction, the director owned 6,813 shares of the company’s stock, valued at $1,192,275. This trade represents a 8.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the firm’s 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 directly owned 2,620,196 shares of the company’s stock, valued at $447,712,890.52. This represents a 1.23% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 215,643 shares of company stock valued at $36,330,928. 11.64% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on GOOGL shares. JPMorgan Chase & Co. cut their target price on Alphabet from $220.00 to $180.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. Bank of America upped their target price on Alphabet from $185.00 to $200.00 and gave the company a “buy” rating in a research report on Friday, April 25th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $171.00 target price on shares of Alphabet in a research report on Wednesday, June 25th. KeyCorp upped their target price on Alphabet from $185.00 to $195.00 and gave the company an “overweight” rating in a research report on Friday, April 25th. Finally, BMO Capital Markets reissued an “outperform” rating and set a $200.00 price target (down from $230.00) on shares of Alphabet in a research report on Thursday, April 17th. Ten investment analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and four have issued a strong buy rating to the company. According to MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and an average price target of $199.95.

Alphabet Trading Up 0.2%

NASDAQ:GOOGL opened at $179.08 on Friday. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $207.05. The stock has a market cap of $2.17 trillion, a price-to-earnings ratio of 19.96, a PEG ratio of 1.26 and a beta of 1.00. The business has a fifty day moving average of $168.70 and a 200-day moving average of $173.87. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts’ expectations of $89.30 billion. During the same quarter in the prior year, the business posted $1.89 earnings per share. Equities analysts predict 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. Stockholders of record on Monday, June 9th were paid a $0.21 dividend. This is a boost from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date was Monday, June 9th. This represents a $0.84 annualized dividend and a dividend yield of 0.47%. Alphabet’s dividend payout ratio is presently 9.36%.

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.