JPL Wealth Management LLC Invests $7.93 Million in Alphabet Inc. (NASDAQ:GOOGL)

JPL Wealth Management LLC purchased a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 41,910 shares of the information services provider’s stock, valued at approximately $7,934,000. Alphabet makes up about 2.3% of JPL Wealth Management LLC’s portfolio, making the stock its 7th largest holding.

A number of other hedge funds also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC increased its holdings in Alphabet by 20,990.0% in the 4th quarter. Proficio Capital Partners LLC now owns 6,186,748 shares of the information services provider’s stock worth $1,171,151,000 after buying an additional 6,157,413 shares in the last quarter. Amundi boosted its holdings in shares of Alphabet by 18.7% during the 4th quarter. Amundi now owns 29,866,698 shares of the information services provider’s stock valued at $5,792,317,000 after acquiring an additional 4,694,621 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Alphabet by 7.7% in the third quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider’s stock worth $10,559,240,000 after acquiring an additional 4,567,275 shares during the period. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Alphabet during the third quarter valued at approximately $513,024,000. Finally, Geode Capital Management LLC lifted its position in Alphabet by 2.0% during the third quarter. Geode Capital Management LLC now owns 134,030,679 shares of the information services provider’s stock valued at $22,154,651,000 after purchasing an additional 2,626,431 shares during the period. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Trading Up 1.7 %

Shares of GOOGL opened at $170.56 on Wednesday. The stock has a market capitalization of $2.08 trillion, a PE ratio of 21.19, a P/E/G ratio of 1.34 and a beta of 1.02. The company’s fifty day moving average is $181.72 and its 200 day moving average is $176.86. 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.

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

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.47%. The ex-dividend date of this dividend was Monday, March 10th. Alphabet’s payout ratio is 9.94%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on GOOGL. KeyCorp cut their target price on shares of Alphabet from $220.00 to $202.00 and set an “overweight” rating for the company in a research report on Tuesday, March 18th. Wedbush upped their price objective on Alphabet from $210.00 to $220.00 and gave the company an “outperform” rating in a research report on Monday, January 6th. DA Davidson raised their target price on Alphabet from $190.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday, January 24th. Robert W. Baird reaffirmed an “outperform” rating and set a $205.00 price target on shares of Alphabet in a research report on Tuesday, December 10th. Finally, Morgan Stanley dropped their price objective on shares of Alphabet from $215.00 to $210.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and an average price target of $210.59.

Insider Transactions at Alphabet

In related news, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $165.53, for a total transaction of $33,106.00. Following the completion of the transaction, the director now directly owns 7,813 shares of the company’s stock, valued at approximately $1,293,285.89. The trade was a 2.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 1,374 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $173.47, for a total value of $238,347.78. Following the transaction, the chief accounting officer now owns 15,024 shares of the company’s stock, valued at approximately $2,606,213.28. The trade was a 8.38 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 93,048 shares of company stock worth $17,374,274. 11.55% of the stock is currently owned by company insiders.

About Alphabet

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.