JB Capital LLC Boosts Stock Holdings in Alphabet Inc. $GOOGL

JB Capital LLC grew its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 0.3% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 49,800 shares of the information services provider’s stock after purchasing an additional 141 shares during the quarter. JB Capital LLC’s holdings in Alphabet were worth $8,776,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Fourpath Capital Management LLC increased its holdings in Alphabet by 16.9% during the second quarter. Fourpath Capital Management LLC now owns 4,691 shares of the information services provider’s stock valued at $827,000 after buying an additional 677 shares during the period. Thompson Investment Management Inc. lifted its holdings in Alphabet by 0.5% during the second quarter. Thompson Investment Management Inc. now owns 167,789 shares of the information services provider’s stock worth $29,569,000 after buying an additional 805 shares during the period. Endeavor Private Wealth Inc. boosted its position in Alphabet by 109.0% during the 2nd quarter. Endeavor Private Wealth Inc. now owns 5,767 shares of the information services provider’s stock valued at $1,016,000 after acquiring an additional 3,008 shares in the last quarter. Monument Capital Management increased its holdings in shares of Alphabet by 5.0% in the 2nd quarter. Monument Capital Management now owns 8,661 shares of the information services provider’s stock valued at $1,526,000 after acquiring an additional 415 shares during the period. Finally, Shikiar Asset Management Inc. purchased a new position in shares of Alphabet in the 2nd quarter valued at $253,000. 40.03% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Frances Arnold sold 103 shares of the company’s stock in a transaction that occurred on Tuesday, September 30th. The stock was sold at an average price of $243.13, for a total value of $25,042.39. Following the sale, the director owned 17,284 shares in the company, valued at $4,202,258.92. This represents a 0.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $250.15, for a total transaction of $8,129,875.00. Following the transaction, the chief executive officer directly owned 2,369,619 shares of the company’s stock, valued at $592,760,192.85. This represents a 1.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 246,150 shares of company stock valued at $55,805,379. 11.55% of the stock is owned by insiders.

Alphabet Price Performance

Shares of GOOGL opened at $256.55 on Tuesday. The firm has a market capitalization of $3.10 trillion, a PE ratio of 27.32, a price-to-earnings-growth ratio of 1.71 and a beta of 1.00. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $257.33. The company’s fifty day moving average price is $232.66 and its 200-day moving average price is $192.92.

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. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The company had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.60 billion. On average, equities research analysts predict that Alphabet Inc. will post 8.9 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on GOOGL shares. CIBC raised their price objective on Alphabet to $315.00 in a research report on Monday. Westpark Capital increased their price target on shares of Alphabet from $210.00 to $220.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. Rosenblatt Securities raised their price target on shares of Alphabet from $191.00 to $224.00 and gave the company a “neutral” rating in a report on Wednesday, September 3rd. Jefferies Financial Group boosted their price objective on shares of Alphabet from $230.00 to $285.00 and gave the stock a “buy” rating in a research note on Thursday, October 2nd. Finally, Canaccord Genuity Group increased their target price on shares of Alphabet from $230.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, September 4th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $255.86.

Alphabet 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.