JPL Wealth Management LLC Purchases Shares of 41,910 Alphabet Inc. (NASDAQ:GOOGL)

JPL Wealth Management LLC acquired a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 41,910 shares of the information services provider's stock, valued at approximately $7,934,000. Alphabet accounts for approximately 2.3% of JPL Wealth Management LLC's holdings, making the stock its 7th largest holding.

Several other large investors also recently made changes to their positions in the business. Proficio Capital Partners LLC increased its holdings in Alphabet by 20,990.0% during 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 purchasing an additional 6,157,413 shares during the last quarter. Amundi boosted its stake in 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 holdings in Alphabet by 7.7% during the 3rd 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 in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Alphabet in the 3rd quarter valued at about $513,024,000. Finally, Geode Capital Management LLC lifted its holdings in Alphabet by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 134,030,679 shares of the information services provider's stock worth $22,154,651,000 after buying an additional 2,626,431 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company's stock.

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Alphabet Trading Down 4.9 %

GOOGL stock traded down $7.91 during midday trading on Friday, hitting $154.33. 48,610,349 shares of the company's stock were exchanged, compared to its average volume of 27,276,841. Alphabet Inc. has a one year low of $147.22 and a one year high of $207.05. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. The company has a market cap of $1.88 trillion, a PE ratio of 19.17, a price-to-earnings-growth ratio of 1.34 and a beta of 1.02. The stock's fifty day moving average price is $179.66 and its 200-day moving average price is $176.72.

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

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date of this dividend was Monday, March 10th. Alphabet's dividend payout ratio (DPR) is presently 9.94%.

Insider Buying and Selling at Alphabet

In related news, Director Kavitark Ram Shriram sold 29,066 shares of the firm's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $184.89, for a total transaction of $5,374,012.74. Following the transaction, the director now directly owns 272,466 shares of the company's stock, valued at approximately $50,376,238.74. This trade represents a 9.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John Kent Walker sold 16,820 shares of the company's stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the sale, the insider now directly owns 43,981 shares of the company's stock, valued at $8,471,620.22. This represents a 27.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 104,812 shares of company stock worth $19,336,979 over the last 90 days. Company insiders own 11.55% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on GOOGL shares. Wedbush boosted their price objective on shares of Alphabet from $210.00 to $220.00 and gave the company an "outperform" rating in a research report on Monday, January 6th. Roth Mkm reissued a "buy" rating and set a $220.00 price target on shares of Alphabet in a report on Wednesday, March 19th. Citizens Jmp lowered Alphabet from a "strong-buy" rating to a "hold" rating in a report on Thursday, January 2nd. JMP Securities reiterated a "market perform" rating on shares of Alphabet in a research report on Wednesday, February 5th. Finally, Cantor Fitzgerald reiterated a "neutral" rating and set a $200.00 price objective on shares of Alphabet in a research note on Wednesday, March 19th. Ten research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have assigned a strong buy rating to the company's stock. According to data from MarketBeat, Alphabet has a consensus rating of "Moderate Buy" and a consensus price target of $210.59.

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.