Jacobs & Co. CA Lowers Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Jacobs & Co. CA lowered its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.0% in the fourth quarter, HoldingsChannel reports. The firm owned 94,529 shares of the information services provider’s stock after selling 983 shares during the period. Alphabet makes up approximately 1.8% of Jacobs & Co. CA’s investment portfolio, making the stock its 10th biggest holding. Jacobs & Co. CA’s holdings in Alphabet were worth $17,894,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in GOOGL. LMR Partners LLP acquired a new position in shares of Alphabet in the 3rd quarter worth approximately $32,000. Denver PWM LLC bought a new position in Alphabet in the 2nd quarter valued at $41,000. Quarry LP acquired a new position in Alphabet in the second quarter worth $53,000. Teachers Insurance & Annuity Association of America bought a new stake in shares of Alphabet during the third quarter worth $66,000. Finally, Mendota Financial Group LLC raised its holdings in shares of Alphabet by 19.0% in the third quarter. Mendota Financial Group LLC now owns 401 shares of the information services provider’s stock valued at $67,000 after buying an additional 64 shares during the last quarter. 40.03% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Sanford C. Bernstein raised their price target on shares of Alphabet from $180.00 to $185.00 and gave the company a “market perform” rating in a report on Wednesday, October 30th. Phillip Securities raised Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. Morgan Stanley raised their price target on Alphabet from $190.00 to $205.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Robert W. Baird restated an “outperform” rating and set a $205.00 target price on shares of Alphabet in a research report on Tuesday, December 10th. Finally, Truist Financial increased their price objective on shares of Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Nine analysts have rated the stock with a hold rating, thirty have issued a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and an average target price of $207.08.

Alphabet Price Performance

Shares of GOOGL traded down $0.57 during trading hours on Friday, hitting $193.38. 17,819,715 shares of the company were exchanged, compared to its average volume of 22,823,910. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a fifty-two week low of $130.66 and a fifty-two week high of $201.42. The company has a market cap of $2.37 trillion, a price-to-earnings ratio of 25.65, a P/E/G ratio of 1.35 and a beta of 0.98. The firm’s fifty day moving average is $182.20 and its 200 day moving average is $173.01.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating the consensus estimate of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The firm had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. During the same period last year, the firm earned $1.55 EPS. On average, equities analysts anticipate that Alphabet Inc. will post 8.01 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 9th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.41%. Alphabet’s dividend payout ratio is currently 10.61%.

Insiders Place Their Bets

In other news, CAO Amie Thuener O’toole sold 1,368 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $191.55, for a total transaction of $262,040.40. Following the completion of the transaction, the chief accounting officer now directly owns 20,681 shares in the company, valued at approximately $3,961,445.55. This represents a 6.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $166.30, for a total value of $3,741,750.00. Following the sale, the chief executive officer now owns 2,106,806 shares in the company, valued at $350,361,837.80. This represents a 1.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 155,887 shares of company stock worth $27,996,356 over the last three months. Insiders own 11.55% 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.