JSF Financial LLC Sells 5,683 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Key Points

• JSF Financial LLC reduced its holdings in Alphabet Inc. by 23.5%, selling 5,683 shares during the first quarter, leaving them with 18,537 shares valued at approximately $2,867,000.
• Insiders have been active, with director John L. Hennessy selling 400 shares and Kavitark Ram Shriram selling 15,000 shares, collectively marking significant decreases of their respective positions.
• Alphabet's stock has seen price target increases from various brokerages, with Loop Capital raising its target from $165.00 to $190.00 and UBS Group increasing theirs from $192.00 to $202.00.

JSF Financial LLC cut its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 23.5% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 18,537 shares of the information services provider's stock after selling 5,683 shares during the period. Alphabet comprises approximately 0.8% of JSF Financial LLC's holdings, making the stock its 22nd largest position. JSF Financial LLC's holdings in Alphabet were worth $2,867,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Guardian Wealth Management Inc. lifted its stake in shares of Alphabet by 242.9% in the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock valued at $26,000 after purchasing an additional 119 shares during the last quarter. von Borstel & Associates Inc. acquired a new stake in shares of Alphabet in the 1st quarter valued at $28,000. IMA Advisory Services Inc. acquired a new stake in shares of Alphabet in the 1st quarter valued at $28,000. Financial Gravity Asset Management Inc. acquired a new stake in shares of Alphabet in the 1st quarter valued at $39,000. Finally, Elite Financial Inc. acquired a new stake in shares of Alphabet in the 1st quarter valued at $42,000. Institutional investors and hedge funds own 40.03% of the company's stock.

Insider Buying and Selling at Alphabet

In related news, insider John Kent Walker sold 23,820 shares of the business'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 sale, the insider directly owned 42,999 shares of the company's stock, valued at $8,371,905.30. The trade was a 35.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director John L. Hennessy sold 400 shares of the business's stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $181.98, for a total transaction of $72,792.00. Following the sale, the director directly owned 6,013 shares of the company's stock, valued at approximately $1,094,245.74. This trade represents a 6.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 273,219 shares of company stock valued at $49,474,273. 11.64% of the stock is currently owned by corporate insiders.

Alphabet Trading Up 2.5%

Shares of GOOGL traded up $4.90 on Friday, reaching $201.42. 39,112,061 shares of the company's stock were exchanged, compared to its average volume of 38,618,092. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $2.44 trillion, a P/E ratio of 21.45, a price-to-earnings-growth ratio of 1.33 and a beta of 1.01. The business has a 50 day moving average price of $180.89 and a two-hundred day moving average price of $173.15. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $207.05.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted 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. The business had revenue of $96,428,000 billion during the quarter, compared to the consensus estimate of $93.60 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. Research analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently declared 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 of this dividend is Monday, September 8th. Alphabet's payout ratio is 8.95%.

Analyst Ratings Changes

GOOGL has been the subject of several analyst reports. JMP Securities lifted their price objective on shares of Alphabet from $220.00 to $225.00 and gave the company a "market outperform" rating in a research note on Thursday, July 24th. Bank of America lifted their price objective on shares of Alphabet from $210.00 to $217.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. DA Davidson lifted their target price on shares of Alphabet from $160.00 to $180.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. UBS Group lifted their target price on shares of Alphabet from $192.00 to $202.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Finally, KeyCorp lifted their target price on shares of Alphabet from $215.00 to $230.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Ten analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $211.53.

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.