Jackson Wealth Management LLC Has $14.31 Million Stake in Alphabet Inc. $GOOGL

Jackson Wealth Management LLC raised its position in Alphabet Inc. (NASDAQ:GOOGL) by 34.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 58,862 shares of the information services provider’s stock after acquiring an additional 15,151 shares during the quarter. Alphabet makes up about 1.4% of Jackson Wealth Management LLC’s investment portfolio, making the stock its 16th largest holding. Jackson Wealth Management LLC’s holdings in Alphabet were worth $14,309,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Financial Gravity Companies Inc. bought a new position in Alphabet during the second quarter worth about $31,000. CarsonAllaria Wealth Management Ltd. raised its stake in Alphabet by 36.4% in the second quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider’s stock valued at $44,000 after buying an additional 67 shares during the period. Vermillion & White Wealth Management Group LLC lifted its position in shares of Alphabet by 37.9% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 324 shares of the information services provider’s stock valued at $57,000 after buying an additional 89 shares during the last quarter. Christopher J. Hasenberg Inc boosted its stake in shares of Alphabet by 77.6% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 348 shares of the information services provider’s stock worth $61,000 after acquiring an additional 152 shares during the period. Finally, S&T Bank PA increased its holdings in shares of Alphabet by 40.2% during the 2nd quarter. S&T Bank PA now owns 345 shares of the information services provider’s stock worth $61,000 after acquiring an additional 99 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

GOOGL has been the topic of a number of research analyst reports. Phillip Securities upgraded Alphabet from a “moderate buy” rating to a “strong-buy” rating in a research note on Friday, November 7th. Morgan Stanley upped their price objective on shares of Alphabet from $270.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Royal Bank Of Canada restated a “buy” rating and set a $315.00 target price on shares of Alphabet in a research note on Tuesday, December 2nd. Guggenheim reaffirmed a “buy” rating and set a $375.00 target price (up previously from $330.00) on shares of Alphabet in a report on Monday, December 1st. Finally, Robert W. Baird upped their price target on shares of Alphabet from $215.00 to $275.00 and gave the company an “outperform” rating in a research note on Monday, September 22nd. Four analysts have rated the stock with a Strong Buy rating, forty-one have given a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $315.18.

Alphabet Price Performance

NASDAQ:GOOGL opened at $296.72 on Thursday. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $328.83. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.75 and a current ratio of 1.75. The firm’s 50-day simple moving average is $286.56 and its 200 day simple moving average is $232.35. The firm has a market cap of $3.58 trillion, a price-to-earnings ratio of 29.26, a P/E/G ratio of 1.77 and a beta of 1.07.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 35.00%. The firm had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. As a group, sell-side analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 8th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, December 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. Alphabet’s dividend payout ratio is currently 8.28%.

Insiders Place Their Bets

In related news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $283.48, for a total value of $9,213,100.00. Following the transaction, the chief executive officer owned 2,337,119 shares in the company, valued at approximately $662,526,494.12. This trade represents a 1.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 2,778 shares of the business’s stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $250.05, for a total value of $694,638.90. Following the completion of the transaction, the chief accounting officer directly owned 14,516 shares of the company’s stock, valued at approximately $3,629,725.80. This trade represents a 16.06% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 226,128 shares of company stock worth $63,183,331 in the last 90 days. Company insiders own 11.64% of the company’s stock.

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.