Jacksonville Wealth Management LLC Purchases 310 Shares of Alphabet Inc. $GOOGL

Jacksonville Wealth Management LLC lifted its position in Alphabet Inc. (NASDAQ:GOOGL) by 16.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,180 shares of the information services provider’s stock after buying an additional 310 shares during the period. Jacksonville Wealth Management LLC’s holdings in Alphabet were worth $384,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Guardian Wealth Management Inc. boosted its holdings in shares of Alphabet by 242.9% during the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock valued at $26,000 after acquiring an additional 119 shares during the last quarter. IMA Advisory Services Inc. purchased a new position in shares of Alphabet during the first quarter valued at approximately $28,000. NBZ Investment Advisors LLC lifted its position in Alphabet by 85.7% during the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock valued at $30,000 after purchasing an additional 90 shares during the period. CarsonAllaria Wealth Management Ltd. boosted its holdings in Alphabet by 36.4% in the second quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider’s stock worth $44,000 after purchasing an additional 67 shares during the last quarter. Finally, MJT & Associates Financial Advisory Group Inc. bought a new stake in Alphabet in the 1st quarter worth approximately $50,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Trading Down 1.1%

Alphabet stock opened at $319.95 on Thursday. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $328.83. The firm has a market capitalization of $3.86 trillion, a price-to-earnings ratio of 31.55, a P/E/G ratio of 1.86 and a beta of 1.05. The firm has a 50 day moving average of $266.58 and a 200 day moving average of $216.93. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, beating the consensus estimate of $2.29 by $0.58. The business had revenue of $102.35 billion for the quarter, compared to the consensus estimate of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. As a group, research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 8th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Monday, December 8th. Alphabet’s dividend payout ratio is presently 8.28%.

Insiders Place Their Bets

In related news, Director John L. Hennessy sold 600 shares of the stock in a transaction dated Thursday, November 13th. The stock was sold at an average price of $280.06, for a total transaction of $168,036.00. Following the completion of the sale, the director owned 4,516 shares in the company, valued at approximately $1,264,750.96. This trade represents a 11.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,778 shares of the business’s stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $288.26, for a total value of $800,786.28. Following the completion of the transaction, the chief accounting officer directly owned 11,739 shares in the company, valued at approximately $3,383,884.14. This represents a 19.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 225,072 shares of company stock valued at $58,074,027 in the last ninety days. Insiders own 11.64% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on GOOGL. Rosenblatt Securities increased their price target on Alphabet from $224.00 to $279.00 and gave the company a “neutral” rating in a report on Thursday, October 30th. JPMorgan Chase & Co. raised their target price on Alphabet from $300.00 to $340.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. Citizens Jmp boosted their price target on Alphabet from $250.00 to $290.00 and gave the company an “outperform” rating in a research note on Friday, September 19th. DA Davidson reiterated a “neutral” rating and issued a $300.00 price objective on shares of Alphabet in a research note on Tuesday. Finally, Tigress Financial raised their price objective on shares of Alphabet from $240.00 to $280.00 and gave the stock a “strong-buy” rating in a report on Friday, September 5th. Four research analysts have rated the stock with a Strong Buy rating, forty-one have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $307.84.

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.