JLB & Associates Inc. Purchases 6,496 Shares of Alphabet Inc. (NASDAQ:GOOGL)

JLB & Associates Inc. raised its position in Alphabet Inc. (NASDAQ:GOOGL) by 36.6% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 24,229 shares of the information services provider’s stock after acquiring an additional 6,496 shares during the period. JLB & Associates Inc.’s holdings in Alphabet were worth $4,051,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Cascade Investment Advisors Inc. raised its stake in shares of Alphabet by 0.8% in the third quarter. Cascade Investment Advisors Inc. now owns 18,178 shares of the information services provider’s stock valued at $3,015,000 after buying an additional 148 shares during the period. Trust Co. of Toledo NA OH raised its stake in shares of Alphabet by 3.4% in the third quarter. Trust Co. of Toledo NA OH now owns 94,880 shares of the information services provider’s stock valued at $15,736,000 after buying an additional 3,160 shares during the period. Weybosset Research & Management LLC raised its stake in shares of Alphabet by 2,350.2% in the third quarter. Weybosset Research & Management LLC now owns 60,766 shares of the information services provider’s stock valued at $10,078,000 after buying an additional 58,286 shares during the period. First Community Trust NA raised its stake in shares of Alphabet by 0.6% in the third quarter. First Community Trust NA now owns 19,716 shares of the information services provider’s stock valued at $3,270,000 after buying an additional 117 shares during the period. Finally, Abacus Planning Group Inc. raised its stake in shares of Alphabet by 12.7% in the third quarter. Abacus Planning Group Inc. now owns 9,685 shares of the information services provider’s stock valued at $1,606,000 after buying an additional 1,095 shares during the period. 40.03% of the stock is currently owned by institutional investors.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 2,835 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total value of $429,587.55. Following the completion of the transaction, the chief accounting officer now owns 29,182 shares of the company’s stock, valued at approximately $4,421,948.46. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CAO Amie Thuener O’toole sold 2,835 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total value of $429,587.55. Following the completion of the transaction, the chief accounting officer now owns 29,182 shares of the company’s stock, valued at approximately $4,421,948.46. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John Kent Walker sold 21,467 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $160.35, for a total value of $3,442,233.45. Following the completion of the transaction, the insider now directly owns 39,334 shares of the company’s stock, valued at $6,307,206.90. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 216,092 shares of company stock valued at $35,644,136. Corporate insiders own 11.55% of the company’s stock.

Alphabet Trading Up 0.7 %

GOOGL opened at $163.24 on Friday. The business has a 50 day simple moving average of $161.37 and a two-hundred day simple moving average of $167.75. The firm has a market capitalization of $2.02 trillion, a price-to-earnings ratio of 25.04, a PEG ratio of 1.21 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. Alphabet Inc. has a one year low of $120.21 and a one year high of $191.75.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. The business had revenue of $84.74 billion during the quarter, compared to analyst estimates of $70.60 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. During the same quarter in the prior year, the company posted $1.44 EPS. Analysts predict that Alphabet Inc. will post 7.64 EPS for the current year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend was Monday, September 9th. Alphabet’s dividend payout ratio is currently 12.27%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on GOOGL shares. Tigress Financial boosted their price objective on Alphabet from $210.00 to $220.00 and gave the company a “strong-buy” rating in a research note on Thursday, September 26th. Evercore ISI decreased their price objective on Alphabet from $225.00 to $200.00 and set an “outperform” rating on the stock in a research note on Monday, September 16th. BMO Capital Markets decreased their price objective on Alphabet from $222.00 to $215.00 and set an “outperform” rating on the stock in a research note on Wednesday. Piper Sandler reiterated an “overweight” rating and set a $200.00 price objective on shares of Alphabet in a research note on Monday, September 30th. Finally, JMP Securities reiterated a “market outperform” rating and set a $200.00 price objective on shares of Alphabet in a research note on Wednesday, September 25th. Eight investment analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and four have issued a strong buy rating to the company. According to MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus price target of $200.95.

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.