Jackson Hole Capital Partners LLC Boosts Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Jackson Hole Capital Partners LLC raised its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,804 shares of the information services provider’s stock after purchasing an additional 122 shares during the period. Jackson Hole Capital Partners LLC’s holdings in Alphabet were worth $2,424,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in GOOGL. OFI Invest Asset Management bought a new position in shares of Alphabet during the fourth quarter valued at about $204,047,000. Kendall Capital Management raised its holdings in Alphabet by 12.0% in the 4th quarter. Kendall Capital Management now owns 18,595 shares of the information services provider’s stock worth $3,520,000 after acquiring an additional 1,995 shares during the last quarter. Coordinated Financial Services Inc. purchased a new position in Alphabet in the 4th quarter worth approximately $552,000. Axis Wealth Partners LLC purchased a new stake in Alphabet during the 4th quarter valued at $370,000. Finally, Atlantic Union Bankshares Corp grew its position in shares of Alphabet by 1.8% during the 4th quarter. Atlantic Union Bankshares Corp now owns 124,134 shares of the information services provider’s stock valued at $23,499,000 after acquiring an additional 2,208 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

GOOGL has been the subject of several recent analyst reports. Citigroup dropped their target price on shares of Alphabet from $232.00 to $229.00 and set a “buy” rating for the company in a report on Wednesday, February 5th. Needham & Company LLC restated a “buy” rating and issued a $225.00 target price on shares of Alphabet in a research note on Wednesday, February 5th. The Goldman Sachs Group reiterated a “buy” rating and set a $210.00 price objective on shares of Alphabet in a research note on Thursday, December 12th. Stifel Nicolaus raised their price target on shares of Alphabet from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Finally, KeyCorp dropped their price target on shares of Alphabet from $220.00 to $202.00 and set an “overweight” rating on the stock in a research report on Tuesday. Ten research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $210.59.

Alphabet Trading Up 0.7 %

Shares of GOOGL stock opened at $163.99 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. Alphabet Inc. has a fifty-two week low of $147.22 and a fifty-two week high of $207.05. The stock has a market capitalization of $2.00 trillion, a P/E ratio of 20.37, a price-to-earnings-growth ratio of 1.34 and a beta of 1.02. The company has a 50 day moving average price of $182.57 and a 200 day moving average price of $176.38.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. Equities research analysts predict that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a yield of 0.49%. Alphabet’s payout ratio is currently 9.94%.

Insiders Place Their Bets

In related news, CAO Amie Thuener O’toole sold 1,368 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $191.55, for a total value of $262,040.40. Following the sale, the chief accounting officer now directly owns 20,681 shares of the company’s stock, valued at approximately $3,961,445.55. This represents a 6.20 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John Kent Walker sold 16,820 shares of the firm’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the sale, the insider now directly owns 43,981 shares in the company, valued at $8,471,620.22. This represents a 27.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 93,048 shares of company stock worth $17,374,274. 11.55% of the stock is owned by insiders.

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.