Alphabet Inc. (NASDAQ:GOOGL) Holdings Lessened by Jupiter Wealth Management LLC

Jupiter Wealth Management LLC reduced its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.1% in the third quarter, Holdings Channel reports. The institutional investor owned 98,487 shares of the information services provider’s stock after selling 130 shares during the period. Alphabet comprises about 8.4% of Jupiter Wealth Management LLC’s portfolio, making the stock its biggest holding. Jupiter Wealth Management LLC’s holdings in Alphabet were worth $16,334,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Venturi Wealth Management LLC increased its position in Alphabet by 11.8% in the third quarter. Venturi Wealth Management LLC now owns 140,901 shares of the information services provider’s stock worth $23,369,000 after buying an additional 14,877 shares in the last quarter. Jaffetilchin Investment Partners LLC increased its holdings in Alphabet by 11.1% in the 3rd quarter. Jaffetilchin Investment Partners LLC now owns 88,221 shares of the information services provider’s stock worth $14,631,000 after acquiring an additional 8,783 shares in the last quarter. Core Wealth Partners LLC raised its stake in Alphabet by 10.4% during the 3rd quarter. Core Wealth Partners LLC now owns 11,754 shares of the information services provider’s stock worth $1,950,000 after acquiring an additional 1,106 shares during the period. GDS Wealth Management raised its stake in Alphabet by 3.0% during the 3rd quarter. GDS Wealth Management now owns 114,056 shares of the information services provider’s stock worth $18,916,000 after acquiring an additional 3,354 shares during the period. Finally, TRU Independence Asset Management 2 LLC purchased a new position in Alphabet during the third quarter valued at approximately $820,000. 40.03% of the stock is currently owned by institutional investors.

Insider Activity at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total transaction of $109,420.08. Following the transaction, the chief accounting officer now directly owns 32,017 shares in the company, valued at $5,136,807.48. This represents a 2.09 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $158.68, for a total transaction of $3,570,300.00. Following the completion of the sale, the chief executive officer now directly owns 2,137,385 shares of the company’s stock, valued at $339,160,251.80. The trade was a 1.04 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 206,795 shares of company stock worth $34,673,866. Company insiders own 11.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on GOOGL. Wells Fargo & Company raised their price objective on shares of Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. KeyCorp raised their price target on Alphabet from $200.00 to $215.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Bank of America upped their price objective on Alphabet from $206.00 to $210.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Tigress Financial lifted their target price on Alphabet from $210.00 to $220.00 and gave the company a “strong-buy” rating in a research note on Thursday, September 26th. Finally, Evercore ISI upped their price target on Alphabet from $200.00 to $205.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Seven equities research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $205.90.

Alphabet Stock Performance

Shares of Alphabet stock opened at $167.65 on Tuesday. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The stock’s fifty day moving average is $167.83 and its two-hundred day moving average is $170.34. Alphabet Inc. has a 52 week low of $127.90 and a 52 week high of $191.75. The company has a market capitalization of $2.05 trillion, a PE ratio of 22.23, a price-to-earnings-growth ratio of 1.17 and a beta of 1.03.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The firm had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $72.85 billion. During the same period in the prior year, the business posted $1.55 earnings per share. As a group, analysts expect that Alphabet Inc. will post 8.01 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.48%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s dividend payout ratio is presently 10.61%.

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.