Jump Financial LLC Has $5.46 Million Stake in Alphabet Inc. $GOOGL

Key Points

• Jump Financial LLC reduced its stake in Alphabet Inc. by 28.6%, now owning 35,312 shares valued at approximately $5.46 million.
• Alphabet recently declared a quarterly dividend of $0.21 per share, with an annual yield of 0.4%, to be paid on September 15th.
• Several brokerages have increased their price targets on Alphabet, with Wedbush raising it from $200.00 to $225.00 and maintaining an "outperform" rating.

Jump Financial LLC cut its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 28.6% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 35,312 shares of the information services provider's stock after selling 14,113 shares during the period. Jump Financial LLC's holdings in Alphabet were worth $5,461,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Eagle Capital Management LLC increased its stake in shares of Alphabet by 0.7% during the 4th quarter. Eagle Capital Management LLC now owns 50,132 shares of the information services provider's stock worth $9,490,000 after purchasing an additional 371 shares during the last quarter. Brighton Jones LLC boosted its holdings in Alphabet by 3.9% in the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider's stock worth $20,886,000 after purchasing an additional 4,110 shares in the last quarter. Revolve Wealth Partners LLC increased its position in Alphabet by 3.5% during the fourth quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider's stock worth $2,826,000 after buying an additional 506 shares during the last quarter. Highview Capital Management LLC DE raised its holdings in Alphabet by 3.6% during the fourth quarter. Highview Capital Management LLC DE now owns 29,100 shares of the information services provider's stock valued at $5,509,000 after buying an additional 1,003 shares in the last quarter. Finally, Wellington Management Group LLP raised its holdings in Alphabet by 15.9% during the fourth quarter. Wellington Management Group LLP now owns 66,050,135 shares of the information services provider's stock valued at $12,503,291,000 after buying an additional 9,042,271 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company's stock.

Alphabet Stock Performance

NASDAQ GOOGL opened at $207.14 on Wednesday. The company's fifty day moving average is $188.07 and its two-hundred day moving average is $173.51. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $210.52. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The firm has a market capitalization of $2.51 trillion, a price-to-earnings ratio of 22.06, a P/E/G ratio of 1.40 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.16. The company had revenue of $96,428,000 billion for the quarter, compared to analyst estimates of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. Equities research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet's dividend payout ratio (DPR) is currently 8.95%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on GOOGL. Wedbush raised their price objective on Alphabet from $200.00 to $225.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. Piper Sandler increased their price target on Alphabet from $195.00 to $220.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Bank of America lifted their price target 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. Tigress Financial upped their price objective on shares of Alphabet from $220.00 to $240.00 and gave the stock a "strong-buy" rating in a report on Wednesday, April 30th. Finally, Susquehanna raised their target price on shares of Alphabet from $220.00 to $225.00 and gave the company a "positive" rating in a research note on Thursday, July 24th. Four research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and ten have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $211.53.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total value of $5,801,900.00. Following the completion of the transaction, the chief executive officer directly owned 2,559,892 shares of the company's stock, valued at approximately $456,991,919.84. The trade was a 1.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider John Kent Walker sold 23,820 shares of the business's stock in a transaction that occurred on Monday, August 4th. The stock was 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 254,719 shares of company stock valued at $47,223,172 over the last quarter. 11.55% of the stock is owned by insiders.

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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