Janney Capital Management LLC Grows Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Janney Capital Management LLC grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 87,764 shares of the information services provider’s stock after buying an additional 83 shares during the quarter. Janney Capital Management LLC’s holdings in Alphabet were worth $14,556,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Alphabet by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 497,874,324 shares of the information services provider’s stock valued at $75,144,172,000 after acquiring an additional 4,064,073 shares in the last quarter. Capital Research Global Investors raised its position in shares of Alphabet by 14.4% during the 1st quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock valued at $8,724,251,000 after acquiring an additional 7,275,757 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Alphabet by 0.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 49,472,478 shares of the information services provider’s stock valued at $9,011,412,000 after acquiring an additional 238,403 shares in the last quarter. Capital World Investors increased its position in Alphabet by 1.7% in the first quarter. Capital World Investors now owns 35,412,299 shares of the information services provider’s stock worth $5,344,778,000 after buying an additional 597,756 shares during the period. Finally, American Century Companies Inc. increased its position in Alphabet by 1.8% in the second quarter. American Century Companies Inc. now owns 23,465,190 shares of the information services provider’s stock worth $4,274,184,000 after buying an additional 418,204 shares during the period. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Frances Arnold sold 441 shares of the stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $171.06, for a total value of $75,437.46. Following the completion of the sale, the director now directly owns 16,490 shares of the company’s stock, valued at approximately $2,820,779.40. This represents a 2.60 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $167.66, for a total value of $3,772,350.00. Following the completion of the sale, the chief executive officer now directly owns 2,159,885 shares of the company’s stock, valued at approximately $362,126,319.10. This represents a 1.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 206,795 shares of company stock valued at $34,471,141. Corporate insiders own 11.55% of the company’s stock.

Alphabet Trading Down 1.8 %

NASDAQ:GOOGL opened at $172.49 on Friday. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 1-year low of $127.90 and a 1-year high of $191.75. The firm has a market capitalization of $2.11 trillion, a price-to-earnings ratio of 22.88, a price-to-earnings-growth ratio of 1.27 and a beta of 1.03. The stock has a fifty day simple moving average of $165.18 and a 200 day simple moving average of $170.08.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results 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. The business had revenue of $88.27 billion during the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same quarter last year, the company posted $1.55 EPS. Sell-side analysts forecast that Alphabet Inc. will post 7.99 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently disclosed 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. 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 is currently 10.61%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Wedbush reaffirmed an “outperform” rating and issued a $205.00 target price on shares of Alphabet in a research report on Thursday, October 24th. Guggenheim increased their target price on Alphabet from $195.00 to $205.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. UBS Group increased their target price on Alphabet from $200.00 to $204.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Sanford C. Bernstein increased their target price on Alphabet from $180.00 to $185.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 30th. Finally, Scotiabank raised Alphabet to a “strong-buy” rating in a research report on Friday, October 11th. Seven 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. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $205.90.

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.