JPL Wealth Management LLC Has $305,000 Holdings in Alphabet Inc. (NASDAQ:GOOG)

JPL Wealth Management LLC lowered its position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 39.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,003 shares of the information services provider's stock after selling 1,326 shares during the quarter. JPL Wealth Management LLC's holdings in Alphabet were worth $305,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Principia Wealth Advisory LLC grew its position in Alphabet by 111.8% during the first 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 in the last quarter. MorganRosel Wealth Management LLC bought a new stake in shares of Alphabet during the 1st quarter worth $26,000. LSV Asset Management bought a new stake in shares of Alphabet during the 4th quarter worth $27,000. Goodman Advisory Group LLC bought a new stake in shares of Alphabet during the 1st quarter worth $32,000. Finally, WealthTrak Capital Management LLC acquired a new position in Alphabet during the 4th quarter valued at $38,000. Institutional investors and hedge funds own 27.26% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. UBS Group increased their price objective on shares of Alphabet from $186.00 to $192.00 and gave the company a "neutral" rating in a research note on Wednesday, July 16th. BNP Paribas cut shares of Alphabet from a "strong-buy" rating to a "hold" rating in a research note on Thursday, June 26th. The Goldman Sachs Group restated a "buy" rating and issued a $220.00 price objective on shares of Alphabet in a research note on Monday, June 2nd. Wells Fargo & Company restated an "equal weight" rating on shares of Alphabet in a research note on Wednesday, July 9th. Finally, Piper Sandler reaffirmed a "neutral" rating on shares of Alphabet in a report on Wednesday, July 9th. Three research analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have issued a buy rating and five have issued a strong buy rating to the company's stock. According to MarketBeat.com, Alphabet presently has a consensus rating of "Moderate Buy" and an average price target of $215.19.

Insider Buying and Selling

In related news, Director John L. Hennessy sold 400 shares of the firm's stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $181.98, for a total value of $72,792.00. Following the completion of the transaction, the director owned 6,013 shares in the company, valued at $1,094,245.74. This trade represents a 6.24% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kavitark Ram Shriram sold 15,000 shares of the firm's stock in a transaction that occurred on 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 transaction, the director owned 240,400 shares of the company's stock, valued at approximately $44,656,704. This trade represents a 5.87% decrease in their position. The disclosure for this sale can be found here. Insiders sold 249,409 shares of company stock valued at $43,523,710 over the last quarter. 12.99% of the stock is owned by company insiders.

Alphabet Stock Up 0.5%

GOOG traded up $0.88 during trading on Friday, reaching $194.08. 31,074,800 shares of the stock were exchanged, compared to its average volume of 27,020,362. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.77 and a current ratio of 1.90. The stock's 50 day moving average price is $176.86 and its two-hundred day moving average price is $174.67. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $208.70. The stock has a market cap of $2.36 trillion, a P/E ratio of 20.67, a price-to-earnings-growth ratio of 1.32 and a beta of 1.01.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.12 by $0.19. The company had revenue of $96.43 billion during the quarter, compared to analysts' expectations of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. Alphabet's quarterly revenue was up 13.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.89 earnings per share. Equities analysts expect that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

The company 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. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.43%. Alphabet's dividend payout ratio is 8.95%.

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.