JBGlobal.com LLC Takes $792,000 Position in Alphabet Inc. (NASDAQ:GOOG)

JBGlobal.com LLC acquired a new position in Alphabet Inc. (NASDAQ:GOOG - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 5,123 shares of the information services provider's stock, valued at approximately $792,000. Alphabet makes up about 0.8% of JBGlobal.com LLC's investment portfolio, making the stock its 11th largest holding.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Sterling Financial Planning Inc. boosted its holdings in Alphabet by 2.6% during the fourth quarter. Sterling Financial Planning Inc. now owns 1,941 shares of the information services provider's stock worth $370,000 after purchasing an additional 50 shares during the last quarter. Arlington Trust Co LLC lifted its stake in Alphabet by 0.4% in the fourth quarter. Arlington Trust Co LLC now owns 14,423 shares of the information services provider's stock valued at $2,747,000 after purchasing an additional 52 shares during the last quarter. Ethos Financial Group LLC increased its position in Alphabet by 0.7% in the fourth quarter. Ethos Financial Group LLC now owns 7,300 shares of the information services provider's stock worth $1,395,000 after buying an additional 53 shares during the last quarter. Hutchinson Capital Management CA raised its stake in shares of Alphabet by 1.5% in the fourth quarter. Hutchinson Capital Management CA now owns 3,555 shares of the information services provider's stock valued at $677,000 after buying an additional 54 shares during the period. Finally, Tempus Wealth Planning LLC lifted its position in shares of Alphabet by 1.7% during the 4th quarter. Tempus Wealth Planning LLC now owns 3,337 shares of the information services provider's stock valued at $636,000 after buying an additional 55 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company's stock.

Alphabet Stock Up 1.0%

Alphabet stock traded up $1.68 during trading hours on Wednesday, hitting $169.39. 18,476,447 shares of the stock traded hands, compared to its average volume of 20,268,892. The firm's 50-day moving average price is $161.02 and its two-hundred day moving average price is $176.18. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The company has a market cap of $2.06 trillion, a PE ratio of 21.04, a PEG ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a one year low of $142.66 and a one year high of $208.70.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.79. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The company had revenue of $90.23 billion for the quarter, compared to the consensus estimate of $89.30 billion. During the same quarter in the prior year, the business posted $1.89 EPS. The firm's quarterly revenue was up 12.0% compared to the same quarter last year. On average, research analysts forecast that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be paid a $0.21 dividend. This is an increase from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date is Monday, June 9th. Alphabet's dividend payout ratio (DPR) is 9.36%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Scotiabank cut their target price on shares of Alphabet from $232.00 to $200.00 and set a "sector outperform" rating for the company in a research report on Monday, April 21st. UBS Group dropped their target price on Alphabet from $209.00 to $173.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. JPMorgan Chase & Co. lifted their price target on Alphabet from $180.00 to $195.00 and gave the company an "overweight" rating in a research report on Friday, April 25th. Morgan Stanley reissued an "overweight" rating on shares of Alphabet in a report on Wednesday, February 5th. Finally, Rosenblatt Securities raised Alphabet from a "hold" rating to a "strong-buy" rating in a report on Friday, April 25th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, fourteen have given a buy rating and five have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $204.88.

Insider Buying and Selling at Alphabet

In related news, Director Kavitark Ram Shriram sold 10,500 shares of Alphabet stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total transaction of $1,837,500.00. Following the transaction, the director now owns 261,966 shares in the company, valued at approximately $45,844,050. The trade was a 3.85% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John Kent Walker sold 11,764 shares of the business's stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $166.84, for a total value of $1,962,705.76. Following the completion of the transaction, the insider now owns 49,037 shares in the company, valued at $8,181,333.08. The trade was a 19.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 163,270 shares of company stock valued at $26,553,563. 12.99% of the stock is owned by company insiders.

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.