Joule Financial LLC Has $2.50 Million Position in Alphabet Inc. $GOOGL

Joule Financial LLC grew its stake in Alphabet Inc. (NASDAQ:GOOGL) by 0.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,199 shares of the information services provider’s stock after purchasing an additional 66 shares during the period. Alphabet comprises approximately 0.8% of Joule Financial LLC’s investment portfolio, making the stock its 22nd largest position. Joule Financial LLC’s holdings in Alphabet were worth $2,502,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. Missouri Trust & Investment Co raised its holdings in Alphabet by 0.3% during the 2nd quarter. Missouri Trust & Investment Co now owns 16,916 shares of the information services provider’s stock worth $2,981,000 after purchasing an additional 55 shares during the last quarter. AM Investment Strategies LLC increased its stake in Alphabet by 0.9% during the 2nd quarter. AM Investment Strategies LLC now owns 6,477 shares of the information services provider’s stock valued at $1,141,000 after purchasing an additional 57 shares in the last quarter. Bfsg LLC increased its stake in Alphabet by 0.6% during the 2nd quarter. Bfsg LLC now owns 10,428 shares of the information services provider’s stock valued at $1,838,000 after purchasing an additional 59 shares in the last quarter. Financial Council LLC boosted its holdings in Alphabet by 1.0% during the 2nd quarter. Financial Council LLC now owns 5,800 shares of the information services provider’s stock worth $1,022,000 after acquiring an additional 60 shares during the last quarter. Finally, Enzi Wealth boosted its holdings in Alphabet by 2.5% during the 1st quarter. Enzi Wealth now owns 2,561 shares of the information services provider’s stock worth $408,000 after acquiring an additional 62 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $244.15 on Tuesday. 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 cap of $2.95 trillion, a PE ratio of 26.00, a price-to-earnings-growth ratio of 1.60 and a beta of 1.00. The business has a 50 day moving average price of $227.30 and a 200-day moving average price of $189.47. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $256.00.

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

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were paid 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 of this dividend was Monday, September 8th. Alphabet’s dividend payout ratio is currently 8.95%.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 953 shares of the stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $241.20, for a total transaction of $229,863.60. Following the sale, the chief accounting officer directly owned 17,294 shares of the company’s stock, valued at $4,171,312.80. This trade represents a 5.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider John Kent Walker sold 17,816 shares of the firm’s stock in a transaction dated 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 completion of the transaction, 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. In the last 90 days, insiders sold 276,338 shares of company stock valued at $59,062,683. 11.55% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

GOOGL has been the topic of a number of research analyst reports. BNP Paribas Exane reissued a “neutral” rating and issued a $172.00 price target on shares of Alphabet in a report on Friday, June 27th. Stifel Nicolaus boosted their price target on shares of Alphabet from $200.00 to $218.00 and gave the stock a “buy” rating in a report on Tuesday, July 22nd. Morgan Stanley set a $270.00 price objective on Alphabet and gave the company an “overweight” rating in a research note on Thursday, October 2nd. JMP Securities upped their price target on Alphabet from $250.00 to $290.00 and gave the company a “market outperform” rating in a research report on Friday, September 19th. Finally, UBS Group boosted their price objective on Alphabet from $237.00 to $255.00 and gave the stock a “neutral” rating in a report on Thursday, October 9th. Four 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 company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $247.40.

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.