JBR Co Financial Management Inc Boosts Holdings in Alphabet Inc. (NASDAQ:GOOG)

JBR Co Financial Management Inc raised its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 36.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,378 shares of the information services provider's stock after acquiring an additional 3,014 shares during the quarter. Alphabet makes up about 1.0% of JBR Co Financial Management Inc's portfolio, making the stock its 25th biggest position. JBR Co Financial Management Inc's holdings in Alphabet were worth $1,778,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in GOOG. LSV Asset Management acquired a new stake in Alphabet in the fourth quarter valued at approximately $27,000. Principia Wealth Advisory LLC lifted its holdings in shares of Alphabet by 111.8% during the 1st quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock valued at $26,000 after purchasing an additional 85 shares during the last quarter. WealthTrak Capital Management LLC purchased a new stake in shares of Alphabet during the 4th quarter valued at $38,000. Mountain Hill Investment Partners Corp. acquired a new stake in shares of Alphabet in the 4th quarter worth $39,000. Finally, Noble Wealth Management PBC acquired a new stake in shares of Alphabet in the 4th quarter worth $43,000. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Stock Performance

Shares of NASDAQ GOOG traded down $3.25 during trading on Thursday, reaching $173.98. 32,365,363 shares of the company traded hands, compared to its average volume of 20,579,241. The stock has a market cap of $2.11 trillion, a P/E ratio of 19.40, a PEG ratio of 1.25 and a beta of 1.01. The firm's fifty day simple moving average is $165.77 and its 200 day simple moving average is $176.42. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $208.70.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping the consensus estimate of $2.02 by $0.79. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The firm had revenue of $90.23 billion for the quarter, compared to analyst estimates of $89.30 billion. During the same period last year, the company earned $1.89 earnings per share. Alphabet's revenue for the quarter was up 12.0% compared to the same quarter last year. As a group, research analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were paid a dividend of $0.21 per share. This is a boost from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date was Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.48%. Alphabet's dividend payout ratio (DPR) is presently 9.36%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on GOOG shares. Westpark Capital reiterated a "buy" rating and issued a $210.00 price target on shares of Alphabet in a research note on Friday, April 25th. Cantor Fitzgerald restated a "neutral" rating and set a $171.00 price target on shares of Alphabet in a research note on Friday, April 25th. Citigroup reaffirmed a "sell" rating on shares of Alphabet in a research report on Wednesday, April 23rd. Susquehanna reissued a "positive" rating on shares of Alphabet in a research report on Friday, May 2nd. Finally, Rosenblatt Securities upgraded shares of Alphabet from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 25th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have issued a buy rating and five have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $204.88.

Insider Activity

In other news, Director Kavitark Ram Shriram sold 10,500 shares of the firm's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $1,837,500.00. Following the sale, the director now directly owns 261,966 shares in the company, valued at $45,844,050. This trade represents a 3.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $161.90, for a total value of $32,380.00. Following the completion of the transaction, the director now owns 7,613 shares of the company's stock, valued at approximately $1,232,544.70. This represents a 2.56% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 195,570 shares of company stock valued at $32,003,532 in the last three months. 12.99% of the stock is currently owned by corporate 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.