Jacobsen Capital Management Buys 1,635 Shares of Alphabet Inc. $GOOG

Key Points

• Jacobsen Capital Management increased its holdings in Alphabet Inc. by 27.9% in Q2, acquiring an additional 1,635 shares, bringing their total to 7,489 shares valued at $1,328,000.
• Insider trading was notable, with CEO Sundar Pichai selling 32,500 shares for over $8 million, resulting in a 1.34% decrease in his ownership.
• Alphabet's stock is currently priced at $260.51, with a market cap of $3.15 trillion and a PE ratio of 27.74, following a strong quarterly performance that beat earnings expectations.

Jacobsen Capital Management lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 27.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,489 shares of the information services provider's stock after buying an additional 1,635 shares during the quarter. Alphabet comprises approximately 0.5% of Jacobsen Capital Management's investment portfolio, making the stock its 22nd biggest holding. Jacobsen Capital Management's holdings in Alphabet were worth $1,328,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. MorganRosel Wealth Management LLC acquired a new stake in shares of Alphabet during the 1st quarter worth approximately $26,000. IFS Advisors LLC grew its position in shares of Alphabet by 400.0% during the 2nd quarter. IFS Advisors LLC now owns 150 shares of the information services provider's stock worth $27,000 after buying an additional 120 shares during the period. Robbins Farley grew its position in shares of Alphabet by 60.0% during the 2nd quarter. Robbins Farley now owns 160 shares of the information services provider's stock worth $28,000 after buying an additional 60 shares during the period. WestEnd Advisors LLC grew its position in shares of Alphabet by 58.7% during the 2nd quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider's stock worth $29,000 after buying an additional 61 shares during the period. Finally, Fairman Group LLC grew its position in shares of Alphabet by 121.3% during the 2nd quarter. Fairman Group LLC now owns 177 shares of the information services provider's stock worth $31,000 after buying an additional 97 shares during the period. Institutional investors and hedge funds own 27.26% of the company's stock.

Insider Activity

In other news, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $249.50, for a total value of $8,108,750.00. Following the completion of the transaction, the chief executive officer owned 2,397,392 shares in the company, valued at $598,149,304. This represents a 1.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John Kent Walker sold 23,820 shares of the company's stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the transaction, the insider owned 42,999 shares of the company's stock, valued at $8,371,905.30. This trade represents a 35.65% decrease in their position. The disclosure for this sale can be found here. Insiders sold 246,150 shares of company stock worth $55,805,379 over the last quarter. 12.99% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. KeyCorp set a $265.00 target price on shares of Alphabet in a research note on Wednesday, September 3rd. Wells Fargo & Company reaffirmed an "equal weight" rating on shares of Alphabet in a research note on Wednesday, July 9th. UBS Group set a $255.00 target price on shares of Alphabet and gave the company a "neutral" rating in a research note on Thursday, October 9th. Phillip Securities downgraded shares of Alphabet from a "strong-buy" rating to a "moderate buy" rating in a research note on Monday, September 8th. Finally, Oppenheimer set a $300.00 target price on shares of Alphabet and gave the company an "outperform" rating in a research note on Monday. Six research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, Alphabet currently has an average rating of "Moderate Buy" and an average target price of $249.68.

Alphabet Stock Up 2.7%

Alphabet stock opened at $260.51 on Friday. The stock has a market capitalization of $3.15 trillion, a PE ratio of 27.74, a price-to-earnings-growth ratio of 1.71 and a beta of 1.00. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $262.51. 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 company has a 50 day moving average of $237.33 and a 200-day moving average of $196.32.

Alphabet (NASDAQ:GOOG - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating the consensus estimate 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%. The business's quarterly revenue was up 13.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.89 earnings per share. On average, equities research analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

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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