Alphabet Inc. (NASDAQ:GOOGL) Position Raised by Jessup Wealth Management Inc

Jessup Wealth Management Inc lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 63,527 shares of the information services provider’s stock after buying an additional 514 shares during the period. Alphabet makes up 5.1% of Jessup Wealth Management Inc’s portfolio, making the stock its 4th biggest position. Jessup Wealth Management Inc’s holdings in Alphabet were worth $12,026,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. LMR Partners LLP bought a new position in Alphabet in the third quarter valued at about $32,000. E Fund Management Hong Kong Co. Ltd. lifted its holdings in Alphabet by 518.8% in the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock valued at $37,000 after acquiring an additional 166 shares during the period. Fiduciary Advisors Inc. bought a new position in Alphabet in the fourth quarter valued at about $39,000. PayPay Securities Corp lifted its holdings in Alphabet by 36.1% in the fourth quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock valued at $46,000 after acquiring an additional 65 shares during the period. Finally, Denver PWM LLC lifted its holdings in Alphabet by 25.4% in the third quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock valued at $47,000 after acquiring an additional 57 shares during the period. 40.03% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Alphabet

In related news, insider Ruth Porat sold 17,690 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $183.48, for a total transaction of $3,245,761.20. Following the completion of the sale, the insider now directly owns 1,449,286 shares of the company’s stock, valued at approximately $265,914,995.28. This trade represents a 1.21 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 1,374 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $173.47, for a total value of $238,347.78. Following the sale, the chief accounting officer now directly owns 15,024 shares of the company’s stock, valued at $2,606,213.28. This represents a 8.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 134,316 shares of company stock worth $25,062,887. 11.55% of the stock is currently owned by company insiders.

Alphabet Price Performance

Shares of Alphabet stock opened at $167.01 on Tuesday. The stock has a market cap of $2.04 trillion, a price-to-earnings ratio of 20.75, a price-to-earnings-growth ratio of 1.34 and a beta of 0.99. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. The stock has a 50 day moving average price of $190.02 and a 200-day moving average price of $176.35. Alphabet Inc. has a one year low of $130.66 and a one year high of $207.05.

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

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date of this dividend is Monday, March 10th. Alphabet’s dividend payout ratio (DPR) is 9.94%.

Analyst Upgrades and Downgrades

GOOGL has been the topic of several recent research reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $225.00 price objective on shares of Alphabet in a research note on Wednesday, February 5th. Cantor Fitzgerald decreased their price objective on Alphabet from $215.00 to $210.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 22nd. Stifel Nicolaus raised their price objective on Alphabet from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. KeyCorp raised their price objective on Alphabet from $215.00 to $225.00 and gave the stock an “overweight” rating in a research note on Friday, January 10th. Finally, DA Davidson raised their price objective on Alphabet from $190.00 to $200.00 and gave the stock a “neutral” rating in a research note on Friday, January 24th. Ten analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $210.62.

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.