Jackson Wealth Management LLC Increases Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Jackson Wealth Management LLC increased its holdings in Alphabet Inc. (NASDAQ:GOOG) by 5.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 41,148 shares of the information services provider’s stock after purchasing an additional 2,131 shares during the period. Jackson Wealth Management LLC’s holdings in Alphabet were worth $6,265,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Partnership Wealth Management LLC purchased a new stake in Alphabet during the fourth quarter valued at about $26,000. Equitec Proprietary Markets LLC acquired a new position in shares of Alphabet during the fourth quarter worth about $28,000. DiNuzzo Private Wealth Inc. acquired a new position in shares of Alphabet during the fourth quarter worth about $32,000. Pacific Capital Wealth Advisors Inc. acquired a new position in shares of Alphabet during the fourth quarter worth about $34,000. Finally, Richardson Financial Services Inc. acquired a new position in shares of Alphabet during the fourth quarter worth about $34,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Activity

In other news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $168.00, for a total value of $114,576.00. Following the transaction, the chief accounting officer now directly owns 31,334 shares of the company’s stock, valued at $5,264,112. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total transaction of $114,576.00. Following the completion of the sale, the chief accounting officer now directly owns 31,334 shares in the company, valued at $5,264,112. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $173.22, for a total value of $3,897,450.00. Following the sale, the chief executive officer now owns 2,258,011 shares of the company’s stock, valued at $391,132,665.42. The disclosure for this sale can be found here. Insiders sold 122,308 shares of company stock worth $21,933,775 over the last quarter. Corporate insiders own 12.99% of the company’s stock.

Alphabet Price Performance

GOOG traded down $4.05 during trading on Friday, reaching $168.40. The stock had a trading volume of 18,907,773 shares, compared to its average volume of 16,999,430. The firm has a market capitalization of $2.07 trillion, a price-to-earnings ratio of 25.83, a price-to-earnings-growth ratio of 1.28 and a beta of 1.05. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 1-year low of $121.46 and a 1-year high of $193.31. The stock has a 50 day moving average of $179.96 and a two-hundred day moving average of $162.87.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The company had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $84.22 billion. During the same quarter in the prior year, the firm earned $1.44 EPS. The company’s quarterly revenue was up 13.6% compared to the same quarter last year. As a group, equities analysts anticipate that Alphabet Inc. will post 7.62 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 9th will be issued a $0.20 dividend. The ex-dividend date is Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.48%. Alphabet’s payout ratio is currently 3.07%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Rosenblatt Securities cut Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target on the stock. in a research note on Friday, June 28th. TD Cowen boosted their price target on Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Wolfe Research upgraded Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. Oppenheimer boosted their price target on Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $165.00 price target on shares of Alphabet in a research note on Thursday, April 11th. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $182.86.

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.