Alphabet Inc. $GOOG Shares Bought by Jones Financial Companies Lllp

Key Points

• Jones Financial Companies Lllp significantly increased its stake in Alphabet Inc., acquiring an additional 1,424,405 shares and bringing its total holdings to 1,543,988 shares valued at approximately $238 million.
• Brokerage firms show strong confidence in Alphabet, with price targets raised; Pivotal Research upgraded its target from $245 to $300, reflecting a robust demand for the stock.
• Alphabet recently announced a quarterly dividend of $0.21 per share, with the next payout scheduled for September 15th, indicating ongoing profitability and shareholder returns.

Jones Financial Companies Lllp raised its position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 1,191.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,543,988 shares of the information services provider's stock after buying an additional 1,424,405 shares during the quarter. Jones Financial Companies Lllp's holdings in Alphabet were worth $238,307,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in GOOG. Brighton Jones LLC raised its stake in shares of Alphabet by 5.6% in the fourth quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider's stock valued at $22,901,000 after acquiring an additional 6,410 shares during the period. Bank Pictet & Cie Europe AG raised its stake in shares of Alphabet by 4.3% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 506,535 shares of the information services provider's stock valued at $96,465,000 after acquiring an additional 20,855 shares during the period. Clark Capital Management Group Inc. raised its stake in shares of Alphabet by 7.5% in the fourth quarter. Clark Capital Management Group Inc. now owns 12,839 shares of the information services provider's stock valued at $2,445,000 after acquiring an additional 894 shares during the period. Greenline Partners LLC raised its stake in shares of Alphabet by 0.6% in the fourth quarter. Greenline Partners LLC now owns 53,298 shares of the information services provider's stock valued at $10,150,000 after acquiring an additional 295 shares during the period. Finally, Gotham Asset Management LLC raised its stake in shares of Alphabet by 2.8% in the fourth quarter. Gotham Asset Management LLC now owns 54,455 shares of the information services provider's stock valued at $10,370,000 after acquiring an additional 1,470 shares during the period. Hedge funds and other institutional investors own 27.26% of the company's stock.

Analyst Upgrades and Downgrades

GOOG has been the topic of several recent analyst reports. The Goldman Sachs Group reissued a "buy" rating and issued a $220.00 target price on shares of Alphabet in a research note on Monday, June 2nd. BNP Paribas cut Alphabet from a "strong-buy" rating to a "hold" rating in a report on Thursday, June 26th. KeyCorp set a $265.00 price objective on Alphabet in a report on Wednesday, September 3rd. Scotiabank boosted their price objective on Alphabet from $200.00 to $240.00 and gave the company a "sector outperform" rating in a report on Tuesday, July 22nd. Finally, Piper Sandler restated a "neutral" rating on shares of Alphabet in a report on Wednesday, July 9th. Five investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $227.56.

Alphabet Stock Down 0.4%

Alphabet stock traded down $1.01 during midday trading on Monday, hitting $234.16. 23,088,018 shares of the company's stock were exchanged, compared to its average volume of 21,956,284. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The company has a market cap of $2.83 trillion, a PE ratio of 24.94, a P/E/G ratio of 1.58 and a beta of 1.01. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $238.40. The firm has a 50-day moving average of $197.78 and a two-hundred day moving average of $177.12.

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

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Monday, September 8th. Alphabet's dividend payout ratio is 8.95%.

Insider Buying and Selling

In other Alphabet news, Director John L. Hennessy sold 600 shares of the stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $203.79, for a total value of $122,274.00. Following the completion of the sale, the director directly owned 6,316 shares in the company, valued at approximately $1,287,137.64. This trade represents a 8.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Kavitark Ram Shriram sold 15,000 shares of the stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $2,786,400.00. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 254,710 shares of company stock valued at $49,208,380. Company insiders own 12.99% of the company's stock.

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.