Janney Montgomery Scott LLC Has $325.38 Million Stock Position in Alphabet Inc. $GOOGL

Janney Montgomery Scott LLC increased its stake in Alphabet Inc. (NASDAQ:GOOGL) by 0.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,846,349 shares of the information services provider’s stock after acquiring an additional 10,906 shares during the quarter. Alphabet comprises 0.9% of Janney Montgomery Scott LLC’s holdings, making the stock its 18th largest holding. Janney Montgomery Scott LLC’s holdings in Alphabet were worth $325,382,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in the business. Mystic Asset Management Inc. increased its holdings in shares of Alphabet by 6.7% during the first quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider’s stock valued at $4,400,000 after acquiring an additional 1,791 shares in the last quarter. Harbour Trust & Investment Management Co grew its stake in Alphabet by 0.3% in the 1st quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider’s stock valued at $4,187,000 after purchasing an additional 80 shares during the period. Cypress Capital LLC lifted its position in shares of Alphabet by 4.1% during the 1st quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider’s stock valued at $2,213,000 after buying an additional 563 shares during the last quarter. Bridgeway Capital Management LLC lifted its position in shares of Alphabet by 17.9% during the 1st quarter. Bridgeway Capital Management LLC now owns 88,187 shares of the information services provider’s stock valued at $13,637,000 after buying an additional 13,371 shares during the last quarter. Finally, Alaethes Wealth LLC lifted its holdings in Alphabet by 1.1% during the 1st quarter. Alaethes Wealth LLC now owns 7,646 shares of the information services provider’s stock worth $1,182,000 after purchasing an additional 84 shares in the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

GOOGL has been the topic of a number of recent research reports. Moffett Nathanson increased their price objective on Alphabet from $230.00 to $295.00 and gave the stock a “buy” rating in a report on Thursday, September 25th. Wall Street Zen lowered Alphabet from a “buy” rating to a “hold” rating in a research report on Sunday, September 21st. Royal Bank Of Canada increased their price objective on Alphabet from $220.00 to $260.00 and gave the stock an “outperform” rating in a report on Wednesday, September 3rd. Tigress Financial raised their target price on Alphabet from $240.00 to $280.00 and gave the company a “strong-buy” rating in a research note on Friday, September 5th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Alphabet in a research note on Saturday, September 27th. Four analysts have rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus price target of $240.76.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $243.41, for a total value of $7,910,825.00. Following the sale, the chief executive officer directly owned 2,402,119 shares in the company, valued at approximately $584,699,785.79. The trade was a 1.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John Kent Walker sold 17,816 shares of the business’s stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $247.42, for a total value of $4,408,034.72. Following the sale, the insider directly owned 42,985 shares in the company, valued at $10,635,348.70. The trade was a 29.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 276,738 shares of company stock valued at $59,135,475 in the last ninety days. Company insiders own 11.64% of the company’s stock.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $245.35 on Friday. The stock has a 50-day simple moving average of $221.25 and a two-hundred day simple moving average of $185.96. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $256.00. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The firm has a market capitalization of $2.97 trillion, a PE ratio of 26.13, a P/E/G ratio of 1.66 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.16. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The business had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.60 billion. Analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Monday, September 8th. Alphabet’s payout ratio is currently 8.95%.

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.