Alphabet Inc. $GOOGL Shares Acquired by Jackson Wealth Management LLC

Jackson Wealth Management LLC increased its position in Alphabet Inc. (NASDAQ:GOOGL) by 0.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 43,711 shares of the information services provider’s stock after buying an additional 177 shares during the quarter. Jackson Wealth Management LLC’s holdings in Alphabet were worth $7,703,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in GOOGL. Guardian Wealth Management Inc. raised its holdings in Alphabet by 242.9% during the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock valued at $26,000 after buying an additional 119 shares in the last quarter. von Borstel & Associates Inc. acquired a new position in Alphabet in the first quarter worth about $28,000. IMA Advisory Services Inc. bought a new position in shares of Alphabet during the first quarter valued at $28,000. NBZ Investment Advisors LLC raised its position in Alphabet by 85.7% in the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock valued at $30,000 after purchasing an additional 90 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. acquired a new position in shares of Alphabet during the first quarter worth approximately $39,000. 40.03% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

Alphabet Trading Down 2.1%

Shares of GOOGL stock opened at $236.57 on Friday. The company has a market cap of $2.86 trillion, a P/E ratio of 25.19, a PEG ratio of 1.63 and a beta of 1.00. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two 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 stock has a 50 day simple moving average of $226.31 and a two-hundred day simple moving average of $188.49.

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

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were given a $0.21 dividend. The ex-dividend date of this dividend was Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.4%. Alphabet’s payout ratio is currently 8.95%.

Wall Street Analyst Weigh In

GOOGL has been the topic of several analyst reports. Morgan Stanley set a $270.00 target price on Alphabet and gave the company an “overweight” rating in a research note on Thursday, October 2nd. Rosenblatt Securities raised their target price on shares of Alphabet from $191.00 to $224.00 and gave the company a “neutral” rating in a research report on Wednesday, September 3rd. Wall Street Zen cut shares of Alphabet from a “buy” rating to a “hold” rating in a research note on Sunday, September 21st. Piper Sandler lifted their target price on Alphabet from $220.00 to $285.00 and gave the stock an “overweight” rating in a research note on Thursday, September 18th. Finally, Truist Financial boosted their price objective on Alphabet from $225.00 to $285.00 and gave the stock a “buy” rating in a report on Monday, September 22nd. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $245.88.

Alphabet Company 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.