Jacobs Equity LLC Purchases Shares of 5,663 Alphabet Inc. $GOOGL

Jacobs Equity LLC acquired a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 5,663 shares of the information services provider’s stock, valued at approximately $1,773,000. Alphabet comprises about 1.7% of Jacobs Equity LLC’s portfolio, making the stock its 13th largest holding.

Several other large investors have also modified their holdings of the stock. PMV Capital Advisers LLC purchased a new position in Alphabet in the 4th quarter worth about $38,000. IFC & Insurance Marketing Inc. purchased a new stake in Alphabet during the fourth quarter valued at about $38,000. Bard Associates Inc. purchased a new stake in Alphabet during the fourth quarter valued at about $52,000. Kentucky Trust Co boosted its holdings in shares of Alphabet by 142.9% in the fourth quarter. Kentucky Trust Co now owns 170 shares of the information services provider’s stock worth $53,000 after buying an additional 100 shares during the period. Finally, iSAM Funds UK Ltd acquired a new position in shares of Alphabet in the third quarter worth about $53,000. 40.03% of the stock is owned by institutional investors.

Alphabet Price Performance

NASDAQ GOOGL opened at $368.48 on Friday. The company has a 50 day simple moving average of $366.01 and a 200-day simple moving average of $331.69. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.92 and a quick ratio of 1.92. The firm has a market capitalization of $4.46 trillion, a price-to-earnings ratio of 28.11, a price-to-earnings-growth ratio of 1.56 and a beta of 1.23. Alphabet Inc. has a 52-week low of $162.00 and a 52-week high of $408.61.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Wednesday, April 29th. The information services provider reported $5.11 EPS for the quarter, topping the consensus estimate of $2.64 by $2.47. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. The business had revenue of $109.90 billion during the quarter, compared to analysts’ expectations of $106.98 billion. Equities research analysts predict that Alphabet Inc. will post 14.3 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 8th were given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date was Monday, June 8th. This is a positive change from Alphabet’s previous quarterly dividend of $0.21. Alphabet’s payout ratio is currently 6.71%.

Insider Activity at Alphabet

In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of Alphabet stock in a transaction on Friday, May 15th. The shares were sold at an average price of $23.75, for a total transaction of $2,077,531.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John Kent Walker sold 8,993 shares of the business’s stock in a transaction on Friday, March 27th. The shares were sold at an average price of $275.89, for a total transaction of $2,481,078.77. Following the transaction, the insider owned 51,808 shares in the company, valued at approximately $14,293,309.12. This represents a 14.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 160,516 shares of company stock worth $7,344,604. 11.61% of the stock is currently owned by company insiders.

Trending Headlines about Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet’s core AI and cloud story got another boost after reports highlighted strong earnings momentum and a rapidly expanding Google Cloud backlog, reinforcing the view that business demand remains healthy. Alphabet Just Beat Earnings by 94% and Doubled Its Cloud Backlog to $460 Billion
• Positive Sentiment: Berkshire Hathaway disclosed that it nearly tripled its Alphabet stake, a notable vote of confidence from a major value investor that may support sentiment. Warren Buffett Just Tripled Down on the Stock Bill Ackman Is Selling
• Positive Sentiment: HSBC announced a multi-year partnership with Google Cloud to expand AI usage, adding another large enterprise customer to Alphabet’s cloud growth narrative. HSBC partners with Google Cloud to expand AI usage
• Positive Sentiment: Google unveiled new AI-related plans, including an “AI Control Roadmap” to address rogue AI agents, underscoring continued investment and leadership in AI infrastructure and safety. Google Devises Battle Plan to Combat Rogue AI Agents
• Neutral Sentiment: Google’s AI talent war remains a focus after Noam Shazeer, a co-lead on Gemini, reportedly left for OpenAI, which may raise questions about retention but does not change the core business overnight. Google’s Gemini co-lead Noam Shazeer to join OpenAI
• Negative Sentiment: Waymo issued a recall of about 3,900 robotaxis after software issues caused vehicles to enter highway construction zones, adding regulatory and execution risk to Alphabet’s self-driving unit. Waymo to recall over 3,800 robotaxis over risk of entering closed construction zones
• Negative Sentiment: A director sold a meaningful block of shares, which can modestly weigh on sentiment even though insider sales are not always a bearish signal. SEC filing for John L. Hennessy sale

Analyst Ratings Changes

GOOGL has been the topic of several analyst reports. The Goldman Sachs Group lifted their target price on shares of Alphabet from $400.00 to $450.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. China Renaissance upped their price target on shares of Alphabet from $400.00 to $485.00 and gave the company a “buy” rating in a research report on Monday, May 4th. Tigress Financial set a $415.00 price objective on shares of Alphabet and gave the stock a “strong-buy” rating in a research note on Thursday, February 19th. New Street Research lifted their price objective on shares of Alphabet from $450.00 to $455.00 and gave the stock a “buy” rating in a research report on Friday, June 5th. Finally, Truist Financial set a $430.00 target price on shares of Alphabet and gave the company a “buy” rating in a research note on Friday, May 29th. Two research analysts have rated the stock with a Strong Buy rating, forty-seven have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $413.13.

Alphabet Company Profile

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.