Jackson Wealth Management LLC Increases Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Jackson Wealth Management LLC increased its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 73.5% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 43,717 shares of the information services provider’s stock after purchasing an additional 18,520 shares during the quarter. Jackson Wealth Management LLC’s holdings in Alphabet were worth $7,251,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the company. Moody Aldrich Partners LLC raised its stake in shares of Alphabet by 2.7% during the 3rd quarter. Moody Aldrich Partners LLC now owns 2,898 shares of the information services provider’s stock worth $481,000 after buying an additional 75 shares during the last quarter. DORCHESTER WEALTH MANAGEMENT Co increased its holdings in Alphabet by 0.5% during the 3rd quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 26,288 shares of the information services provider’s stock valued at $4,360,000 after acquiring an additional 141 shares in the last quarter. Fiduciary Planning LLC lifted its holdings in shares of Alphabet by 2.4% in the third quarter. Fiduciary Planning LLC now owns 9,287 shares of the information services provider’s stock valued at $1,540,000 after purchasing an additional 215 shares in the last quarter. Lafayette Investments Inc. grew its position in shares of Alphabet by 18.0% in the third quarter. Lafayette Investments Inc. now owns 3,579 shares of the information services provider’s stock valued at $594,000 after purchasing an additional 547 shares during the last quarter. Finally, Commonwealth Financial Services LLC increased its stake in shares of Alphabet by 13.4% during the 3rd quarter. Commonwealth Financial Services LLC now owns 3,614 shares of the information services provider’s stock worth $604,000 after purchasing an additional 427 shares in the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Piper Sandler reiterated an “overweight” rating and set a $210.00 target price (up previously from $200.00) on shares of Alphabet in a report on Wednesday, October 30th. TD Securities lifted their price objective on Alphabet from $200.00 to $220.00 in a research report on Wednesday, July 10th. The Goldman Sachs Group cut their target price on shares of Alphabet from $217.00 to $208.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Truist Financial raised their price target on shares of Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, Scotiabank raised shares of Alphabet to a “strong-buy” rating in a research note on Friday, October 11th. Seven equities research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and four 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 an average target price of $205.51.

Alphabet Stock Performance

Alphabet stock opened at $169.24 on Tuesday. Alphabet Inc. has a 12-month low of $127.90 and a 12-month high of $191.75. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 2.08. The company has a market capitalization of $2.08 trillion, a price-to-earnings ratio of 22.45, a price-to-earnings-growth ratio of 1.23 and a beta of 1.03. The firm’s fifty day moving average price is $162.49 and its 200 day moving average price is $169.20.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The firm had revenue of $88.27 billion during the quarter, compared to analyst estimates of $72.85 billion. During the same quarter last year, the firm earned $1.55 EPS. On average, research analysts forecast that Alphabet Inc. will post 7.91 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.47%. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

Insider Activity at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the completion of the transaction, the chief executive officer now directly owns 2,182,385 shares of the company’s stock, valued at $354,310,204.75. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Alphabet news, Director John L. Hennessy sold 800 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $163.03, for a total transaction of $130,424.00. Following the transaction, the director now owns 30,024 shares of the company’s stock, valued at $4,894,812.72. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $162.35, for a total value of $3,652,875.00. Following the completion of the sale, the chief executive officer now owns 2,182,385 shares of the company’s stock, valued at $354,310,204.75. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 232,052 shares of company stock valued at $38,086,723 over the last ninety days. Corporate insiders own 11.55% of the company’s stock.

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.