JNBA Financial Advisors Has $1.66 Million Position in Alphabet Inc. (NASDAQ:GOOGL)

JNBA Financial Advisors trimmed its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 15.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,020 shares of the information services provider’s stock after selling 1,770 shares during the quarter. JNBA Financial Advisors’ holdings in Alphabet were worth $1,662,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Dechtman Wealth Management LLC boosted its position in Alphabet by 6.0% in the third quarter. Dechtman Wealth Management LLC now owns 3,588 shares of the information services provider’s stock worth $595,000 after purchasing an additional 204 shares during the last quarter. Spinnaker Trust increased its holdings in shares of Alphabet by 0.4% in the 3rd quarter. Spinnaker Trust now owns 44,686 shares of the information services provider’s stock worth $7,411,000 after buying an additional 198 shares during the last quarter. CV Advisors LLC boosted its stake in Alphabet by 2.5% in the third quarter. CV Advisors LLC now owns 54,714 shares of the information services provider’s stock worth $9,074,000 after buying an additional 1,353 shares in the last quarter. Consilium Wealth Advisory LLC raised its position in Alphabet by 3.4% in the 3rd quarter. Consilium Wealth Advisory LLC now owns 23,997 shares of the information services provider’s stock worth $3,980,000 after purchasing an additional 799 shares during the period. Finally, Centennial Wealth Advisory LLC increased its position in shares of Alphabet by 8.3% in the third quarter. Centennial Wealth Advisory LLC now owns 3,888 shares of the information services provider’s stock valued at $645,000 after acquiring an additional 298 shares during the period. Institutional investors own 40.03% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on GOOGL. Scotiabank upgraded shares of Alphabet to a “strong-buy” rating in a report on Friday, October 11th. Mizuho upped their price objective on Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Piper Sandler reaffirmed an “overweight” rating and set a $210.00 price target (up from $200.00) on shares of Alphabet in a research note on Wednesday, October 30th. Roth Mkm increased their price objective on Alphabet from $206.00 to $212.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, Seaport Res Ptn raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Seven investment 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 company’s stock. Based on data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and a consensus target price of $205.90.

Insider Transactions at Alphabet

In other news, Director Frances Arnold sold 441 shares of the firm’s stock in a transaction on 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 owns 16,490 shares of the company’s stock, valued at $2,820,779.40. This trade represents a 2.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total value 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. The trade was a 2.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 184,295 shares of company stock valued at $30,698,791 in the last quarter. Insiders own 11.55% of the company’s stock.

Alphabet Stock Performance

Shares of GOOGL stock opened at $178.12 on Wednesday. The firm has a market capitalization of $2.18 trillion, a price-to-earnings ratio of 23.62, a price-to-earnings-growth ratio of 1.23 and a beta of 1.03. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The business has a 50 day simple moving average of $166.74 and a 200 day simple moving average of $170.36. Alphabet Inc. has a 12-month low of $127.90 and a 12-month high of $191.75.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping 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 the consensus estimate of $72.85 billion. During the same period in the prior year, the firm posted $1.55 earnings per share. On average, equities research analysts anticipate that Alphabet Inc. will post 7.99 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date is Monday, December 9th. Alphabet’s payout ratio is 10.61%.

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.