Jupiter Wealth Management LLC Has $15.50 Million Holdings in Alphabet Inc. $GOOGL

Key Points

• Jupiter Wealth Management LLC reduced its holdings in Alphabet Inc. by 6.5% in the first quarter, now owning 93,087 shares valued at approximately $15.5 million.
• Alphabet reported a strong earnings performance with an EPS of $2.31 for the quarter, exceeding analyst estimates of $2.15 and achieving revenue of $96.43 billion.
• The company announced a quarterly dividend of $0.21 per share, which will be paid on September 15th, reflecting a yield of 0.4%.

Jupiter Wealth Management LLC reduced its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 6.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 93,087 shares of the information services provider's stock after selling 6,487 shares during the period. Alphabet makes up about 9.9% of Jupiter Wealth Management LLC's holdings, making the stock its biggest holding. Jupiter Wealth Management LLC's holdings in Alphabet were worth $15,503,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GOOGL. Guardian Wealth Management Inc. boosted its position in Alphabet by 242.9% in the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock valued at $26,000 after buying an additional 119 shares during the last quarter. von Borstel & Associates Inc. purchased a new position in Alphabet in the 1st quarter valued at about $28,000. IMA Advisory Services Inc. purchased a new position in Alphabet in the 1st quarter valued at about $28,000. NBZ Investment Advisors LLC boosted its position in Alphabet by 85.7% in the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider's stock valued at $30,000 after buying an additional 90 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. purchased a new position in Alphabet in the 1st quarter valued at about $39,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Alphabet

In related news, Director Kavitark Ram Shriram sold 15,000 shares of the business's stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $185.76, for a total transaction of $2,786,400.00. Following the completion of the sale, the director owned 240,400 shares of the company's stock, valued at $44,656,704. This represents a 5.87% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 600 shares of the business's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $203.79, for a total transaction of $122,274.00. Following the sale, the director directly owned 6,316 shares of the company's stock, valued at approximately $1,287,137.64. This represents a 8.68% decrease in their position. The disclosure for this sale can be found here. Insiders sold 254,710 shares of company stock worth $49,208,380 in the last quarter. 11.64% of the stock is currently owned by corporate insiders.

Alphabet Stock Performance

Shares of NASDAQ:GOOGL traded up $1.20 during trading on Thursday, reaching $240.37. 30,544,923 shares of the company's stock traded hands, compared to its average volume of 35,138,924. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $242.25. The company has a 50 day moving average of $200.66 and a 200-day moving average of $177.03. The stock has a market capitalization of $2.91 trillion, a P/E ratio of 25.60, a price-to-earnings-growth ratio of 1.61 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating analysts' consensus estimates of $2.15 by $0.16. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The business had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.60 billion. On average, equities analysts expect that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet's dividend payout ratio is currently 8.95%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on GOOGL shares. Wells Fargo & Company upped their price objective on shares of Alphabet from $184.00 to $187.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 29th. Bank of America boosted their target price on shares of Alphabet from $210.00 to $217.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Royal Bank Of Canada boosted their target price on shares of Alphabet from $220.00 to $260.00 and gave the stock an "outperform" rating in a research report on Wednesday, September 3rd. Oppenheimer reissued an "outperform" rating and issued a $270.00 target price (up previously from $235.00) on shares of Alphabet in a research report on Tuesday, September 2nd. Finally, Morgan Stanley boosted their target price on shares of Alphabet from $185.00 to $205.00 and gave the stock an "overweight" rating in a research report on Monday, July 21st. Three investment analysts have rated the stock with a Strong Buy rating, thirty-two have assigned a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, Alphabet has an average rating of "Moderate Buy" and a consensus target price of $221.44.

About Alphabet

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.