Alphabet Inc. $GOOGL Shares Acquired by Jacobi Capital Management LLC

Key Points

• Jacobi Capital Management LLC increased its stake in Alphabet Inc. by 5.2%, owning a total of 42,811 shares valued at approximately $6.62 million as of the end of the quarter.
• Various institutional investors, including Vanguard and UBS, have also boosted their holdings in Alphabet, with Vanguard now owning over 509 million shares worth nearly $79 billion.
• Alphabet declared a quarterly dividend of $0.21 per share, with the ex-dividend date set for September 8, representing an annualized yield of 0.4%.

Jacobi Capital Management LLC grew its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 5.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 42,811 shares of the information services provider's stock after acquiring an additional 2,127 shares during the period. Jacobi Capital Management LLC's holdings in Alphabet were worth $6,620,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Alphabet by 2.9% in the first quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider's stock worth $78,839,544,000 after acquiring an additional 14,307,345 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Alphabet by 11.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 43,865,520 shares of the information services provider's stock worth $6,783,364,000 after acquiring an additional 4,473,901 shares during the period. Invesco Ltd. raised its position in shares of Alphabet by 1.4% in the first quarter. Invesco Ltd. now owns 43,648,514 shares of the information services provider's stock valued at $6,749,806,000 after buying an additional 593,345 shares during the last quarter. Deutsche Bank AG raised its position in shares of Alphabet by 1.9% in the first quarter. Deutsche Bank AG now owns 39,792,300 shares of the information services provider's stock valued at $6,153,481,000 after buying an additional 727,335 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Alphabet by 0.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 38,556,577 shares of the information services provider's stock valued at $5,962,389,000 after buying an additional 104,859 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Canaccord Genuity Group upped their price target on shares of Alphabet from $230.00 to $270.00 and gave the stock a "buy" rating in a research report on Thursday, September 4th. Loop Capital restated a "hold" rating and issued a $190.00 target price (up from $165.00) on shares of Alphabet in a research note on Tuesday, August 5th. Needham & Company LLC increased their price objective on shares of Alphabet from $220.00 to $260.00 and gave the company a "buy" rating in a research note on Wednesday, September 3rd. Sanford C. Bernstein increased their price objective on shares of Alphabet from $185.00 to $195.00 and gave the company a "market perform" rating in a research note on Tuesday, July 22nd. Finally, JMP Securities increased their price objective on shares of Alphabet from $225.00 to $250.00 and gave the stock a "market outperform" rating in a report on Wednesday, September 3rd. Three investment analysts have rated the stock with a Strong Buy rating, thirty-two have issued a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $221.44.

Insider Activity

In other news, insider John Kent Walker sold 23,820 shares of the company's stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $194.70, for a total value of $4,637,754.00. Following the sale, the insider owned 42,999 shares of the company's stock, valued at approximately $8,371,905.30. This represents a 35.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John L. Hennessy sold 600 shares of the stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $203.79, for a total value of $122,274.00. Following the completion of the transaction, the director owned 6,316 shares in the company, valued at $1,287,137.64. The trade was a 8.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 254,710 shares of company stock worth $49,208,380 in the last quarter. 11.64% of the stock is owned by company insiders.

Alphabet Price Performance

NASDAQ GOOGL opened at $239.17 on Thursday. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $2.89 trillion, a PE ratio of 25.47, a price-to-earnings-growth ratio of 1.61 and a beta of 1.01. The company has a 50 day moving average price of $199.43 and a two-hundred day moving average price of $176.61. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $241.66.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS 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 company had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.60 billion. As a group, equities analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be paid a dividend of $0.21 per share. The ex-dividend date is Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.4%. Alphabet's payout ratio is currently 8.95%.

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.

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