Alphabet Inc. $GOOGL Stock Position Boosted by Jacobs & Co. CA

Key Points

• Jacobs & Co. CA increased its holdings in Alphabet Inc. by 1.7% during the second quarter, making it the firm's 10th largest holding worth around $16.85 million.
• Alphabet reported earnings of $2.31 per share for the last quarter, exceeding analysts' expectations, with total revenue amounting to $96.43 billion.
• The company recently declared a quarterly dividend of $0.21 per share, with a 0.3% yield and a dividend payout ratio of 8.95%.

Jacobs & Co. CA grew its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 1.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 95,634 shares of the information services provider's stock after acquiring an additional 1,591 shares during the quarter. Alphabet accounts for approximately 1.7% of Jacobs & Co. CA's holdings, making the stock its 10th largest holding. Jacobs & Co. CA's holdings in Alphabet were worth $16,853,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Guardian Wealth Management Inc. boosted its holdings in Alphabet by 242.9% in the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock worth $26,000 after acquiring an additional 119 shares in the last quarter. IMA Advisory Services Inc. acquired a new stake in Alphabet in the first quarter worth about $28,000. von Borstel & Associates Inc. acquired a new stake in Alphabet in the first quarter worth about $28,000. NBZ Investment Advisors LLC boosted its holdings in Alphabet by 85.7% in the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider's stock worth $30,000 after acquiring an additional 90 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. acquired a new stake in Alphabet in the first quarter worth about $39,000. Institutional investors and hedge funds own 40.03% of the company's stock.

Alphabet Stock Performance

GOOGL opened at $240.80 on Friday. The firm has a fifty day moving average price of $201.89 and a 200 day moving average price of $177.48. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $242.25. The stock has a market cap of $2.91 trillion, a P/E ratio of 25.64, a P/E/G ratio of 1.62 and a beta of 1.01. 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 (NASDAQ:GOOGL - Get Free Report) last released 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 company had revenue of $96.43 billion during the quarter, compared to analysts' expectations of $93.60 billion. Equities research analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current 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 given 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 0.3%. Alphabet's dividend payout ratio is currently 8.95%.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of several recent analyst reports. Tigress Financial raised their price target on Alphabet from $240.00 to $280.00 and gave the stock a "strong-buy" rating in a report on Friday, September 5th. Bank of America lifted their target price on Alphabet from $210.00 to $217.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Westpark Capital lifted their target price on Alphabet from $210.00 to $220.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Citigroup reaffirmed an "outperform" rating on shares of Alphabet in a report on Wednesday, September 3rd. Finally, DA Davidson lifted their target price on Alphabet from $180.00 to $190.00 and gave the stock a "neutral" rating in a report on Tuesday, September 2nd. Three analysts have rated the stock with a Strong Buy rating, thirty-two have assigned a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $221.44.

Insiders Place Their Bets

In related news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $229.73, for a total value of $7,466,225.00. Following the sale, the chief executive officer owned 2,429,892 shares of the company's stock, valued at approximately $558,219,089.16. This trade represents a 1.32% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 600 shares of the business's stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $203.79, for a total transaction of $122,274.00. Following the completion of the sale, the director directly owned 6,316 shares of the company's stock, valued at approximately $1,287,137.64. The trade was a 8.68% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 254,710 shares of company stock valued at $49,208,380 in the last three months. 11.64% of the stock is currently owned by company insiders.

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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