Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Jessup Wealth Management Inc

Jessup Wealth Management Inc reduced its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 60.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 29,861 shares of the information services provider’s stock after selling 45,140 shares during the quarter. Alphabet accounts for about 1.9% of Jessup Wealth Management Inc’s investment portfolio, making the stock its 22nd largest holding. Jessup Wealth Management Inc’s holdings in Alphabet were worth $4,507,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in GOOGL. Pegasus Partners Ltd. raised its stake in shares of Alphabet by 6.1% in the 3rd quarter. Pegasus Partners Ltd. now owns 30,567 shares of the information services provider’s stock valued at $4,000,000 after purchasing an additional 1,757 shares in the last quarter. Parkside Financial Bank & Trust increased its holdings in Alphabet by 3.4% in the third quarter. Parkside Financial Bank & Trust now owns 19,763 shares of the information services provider’s stock valued at $2,586,000 after buying an additional 647 shares during the last quarter. Paragon Private Wealth Management LLC raised its stake in Alphabet by 1.6% during the third quarter. Paragon Private Wealth Management LLC now owns 21,739 shares of the information services provider’s stock valued at $2,845,000 after buying an additional 341 shares in the last quarter. O Shaughnessy Asset Management LLC raised its stake in Alphabet by 14.9% during the third quarter. O Shaughnessy Asset Management LLC now owns 408,922 shares of the information services provider’s stock valued at $53,512,000 after buying an additional 53,123 shares in the last quarter. Finally, O ROURKE & COMPANY Inc lifted its holdings in Alphabet by 4.7% during the 3rd quarter. O ROURKE & COMPANY Inc now owns 17,823 shares of the information services provider’s stock worth $2,332,000 after buying an additional 793 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Alphabet Price Performance

NASDAQ:GOOGL opened at $182.15 on Friday. Alphabet Inc. has a 52-week low of $115.35 and a 52-week high of $186.05. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. The firm has a market cap of $2.25 trillion, a P/E ratio of 27.94, a PEG ratio of 1.39 and a beta of 1.01. The business’s 50-day moving average price is $172.85 and its 200 day moving average price is $154.29.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.40. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The company had revenue of $80.54 billion for the quarter, compared to analysts’ expectations of $66.04 billion. During the same quarter in the previous year, the company posted $1.17 EPS. As a group, sell-side analysts predict that Alphabet Inc. will post 7.6 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 10th were given a dividend of $0.20 per share. The ex-dividend date was Monday, June 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.44%. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $155.67, for a total transaction of $3,502,575.00. Following the sale, the chief executive officer now directly owns 2,325,513 shares of the company’s stock, valued at $362,012,608.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $155.67, for a total value of $3,502,575.00. Following the transaction, the chief executive officer now owns 2,325,513 shares of the company’s stock, valued at approximately $362,012,608.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $154.79, for a total transaction of $105,566.78. Following the sale, the chief accounting officer now directly owns 29,284 shares of the company’s stock, valued at $4,532,870.36. The disclosure for this sale can be found here. Insiders sold a total of 146,284 shares of company stock valued at $24,534,393 in the last three months. 11.55% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Roth Mkm upped their price target on Alphabet from $164.00 to $202.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Morgan Stanley reissued an “overweight” rating and set a $195.00 target price on shares of Alphabet in a report on Wednesday, May 15th. Piper Sandler reaffirmed an “overweight” rating and issued a $200.00 price target (up from $160.00) on shares of Alphabet in a report on Friday, April 26th. Oppenheimer increased their price objective on shares of Alphabet from $185.00 to $205.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Finally, TD Cowen lifted their target price on Alphabet from $170.00 to $200.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Six analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and an average target price of $193.66.

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.