JFG Wealth Management LLC Increases Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

JFG Wealth Management LLC raised its position in Alphabet Inc. (NASDAQ:GOOGL) by 48.2% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,981 shares of the information services provider’s stock after buying an additional 970 shares during the period. JFG Wealth Management LLC’s holdings in Alphabet were worth $495,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Christopher J. Hasenberg Inc grew its position in shares of Alphabet by 75.0% in the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 60 shares during the period. Kings Path Partners LLC purchased a new position in Alphabet in the 2nd quarter valued at about $36,000. Denver PWM LLC acquired a new stake in Alphabet in the 2nd quarter worth about $41,000. Quarry LP acquired a new stake in Alphabet in the 2nd quarter worth about $53,000. Finally, Summit Securities Group LLC purchased a new stake in Alphabet during the 2nd quarter worth approximately $55,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Stock Performance

Shares of GOOGL opened at $175.30 on Tuesday. Alphabet Inc. has a 1 year low of $127.90 and a 1 year high of $191.75. The stock has a market capitalization of $2.15 trillion, a PE ratio of 23.25, a PEG ratio of 1.23 and a beta of 1.03. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The stock has a 50-day simple moving average of $166.15 and a 200-day simple moving average of $170.28.

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 the consensus estimate of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The company had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $72.85 billion. During the same quarter in the previous year, the business posted $1.55 EPS. On average, analysts predict that Alphabet Inc. will post 7.99 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.46%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

Insider Buying and Selling at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $167.66, for a total transaction of $3,772,350.00. Following the completion of the sale, the chief executive officer now owns 2,159,885 shares in the company, valued at approximately $362,126,319.10. The trade was a 1.03 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John Kent Walker sold 21,467 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $160.35, for a total transaction of $3,442,233.45. Following the completion of the transaction, the insider now directly owns 39,334 shares in the company, valued at $6,307,206.90. This trade represents a 35.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 206,795 shares of company stock worth $34,471,141 over the last ninety days. Corporate insiders own 11.55% of the company’s stock.

Analysts Set New Price Targets

GOOGL has been the topic of several research reports. China Renaissance upgraded Alphabet from a “hold” rating to a “buy” rating in a research report on Thursday, October 31st. Mizuho raised their price objective on Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $190.00 target price on shares of Alphabet in a report on Wednesday, October 30th. Scotiabank raised shares of Alphabet to a “strong-buy” rating in a research note on Friday, October 11th. Finally, Truist Financial upped their price objective on shares of Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Seven research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $205.90.

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.