Jones Financial Companies Lllp Increases Stake in Alphabet Inc. $GOOGL

Key Points

• Jones Financial Companies Lllp increased its stake in Alphabet Inc. by 36.8%, holding a total of 1,814,959 shares valued at $280.19 million.
• Alphabet's recent earnings report showed an EPS of $2.31, exceeding estimates and a revenue of $96.43 billion, surpassing expectations of $93.60 billion.
• The company announced a quarterly dividend of $0.21 per share, with a dividend yield of 0.3% and a payout ratio of 8.95%.

Jones Financial Companies Lllp raised its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 36.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,814,959 shares of the information services provider's stock after purchasing an additional 488,549 shares during the period. Jones Financial Companies Lllp's holdings in Alphabet were worth $280,190,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the company. Silicon Valley Capital Partners increased its position in shares of Alphabet by 10.6% in the 1st quarter. Silicon Valley Capital Partners now owns 276,145 shares of the information services provider's stock valued at $42,617,000 after purchasing an additional 26,456 shares during the last quarter. Strs Ohio purchased a new stake in shares of Alphabet in the 1st quarter valued at approximately $317,357,000. GK Wealth Management LLC grew its position in shares of Alphabet by 5.6% in the 1st quarter. GK Wealth Management LLC now owns 12,629 shares of the information services provider's stock valued at $1,953,000 after buying an additional 668 shares during the last quarter. Intrua Financial LLC grew its position in shares of Alphabet by 5.4% in the 1st quarter. Intrua Financial LLC now owns 8,844 shares of the information services provider's stock valued at $1,368,000 after buying an additional 456 shares during the last quarter. Finally, Turn8 Private Wealth Inc. grew its position in shares of Alphabet by 2.2% in the 1st quarter. Turn8 Private Wealth Inc. now owns 21,756 shares of the information services provider's stock valued at $3,364,000 after buying an additional 468 shares during the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Up 0.2%

Shares of NASDAQ:GOOGL opened at $240.80 on Friday. The stock has a market cap of $2.91 trillion, a P/E ratio of 25.64, a P/E/G ratio of 1.62 and a beta of 1.01. The firm has a fifty day moving average price of $201.89 and a 200 day moving average price of $177.51. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $242.25.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping analysts' consensus estimates of $2.15 by $0.16. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The firm had revenue of $96.43 billion during the quarter, compared to analysts' expectations of $93.60 billion. Sell-side analysts predict that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Monday, September 8th. Alphabet's dividend payout ratio (DPR) is 8.95%.

Analysts Set New Price Targets

A number of research firms recently commented on GOOGL. Bank of America increased their target price on shares of Alphabet from $210.00 to $217.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Rosenblatt Securities increased their target price on shares of Alphabet from $191.00 to $224.00 and gave the company a "neutral" rating in a research report on Wednesday, September 3rd. Wedbush increased their target price on shares of Alphabet from $225.00 to $245.00 and gave the company an "outperform" rating in a research report on Wednesday, September 3rd. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of Alphabet in a research report on Wednesday, September 3rd. Finally, Westpark Capital increased their target price on shares of Alphabet from $210.00 to $220.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-two have given a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, Alphabet currently has a consensus rating of "Moderate Buy" and an average price target of $221.44.

Insider Activity

In other news, Director Kavitark Ram Shriram sold 15,000 shares of the firm's stock in a transaction on 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 in the company, valued at approximately $44,656,704. This trade represents a 5.87% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $229.73, for a total transaction of $7,466,225.00. Following the completion of the sale, the chief executive officer owned 2,429,892 shares of the company's stock, valued at $558,219,089.16. This trade represents a 1.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 254,710 shares of company stock worth $49,208,380 over the last quarter. Insiders own 11.64% of the company's stock.

Alphabet Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.