Bank of Jackson Hole Trust Makes New $3.47 Million Investment in Alphabet Inc. (NASDAQ:GOOGL)

Bank of Jackson Hole Trust acquired a new position in shares of Alphabet Inc. (NASDAQ:GOOGL) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 18,322 shares of the information services provider’s stock, valued at approximately $3,468,000. Alphabet makes up about 2.3% of Bank of Jackson Hole Trust’s portfolio, making the stock its 9th largest position.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GOOGL. International Assets Investment Management LLC boosted its holdings in shares of Alphabet by 43,005.6% in the 3rd quarter. International Assets Investment Management LLC now owns 18,743,594 shares of the information services provider’s stock worth $31,086,250,000 after purchasing an additional 18,700,111 shares during the period. Assenagon Asset Management S.A. lifted its position in Alphabet by 116.4% in the third quarter. Assenagon Asset Management S.A. now owns 8,670,225 shares of the information services provider’s stock worth $1,437,957,000 after buying an additional 4,662,809 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Alphabet by 7.7% during the third quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider’s stock worth $10,559,240,000 after buying an additional 4,567,275 shares during the period. B. Metzler seel. Sohn & Co. Holding AG bought a new position in Alphabet during the third quarter valued at $513,024,000. Finally, Geode Capital Management LLC raised its stake in shares of Alphabet by 2.0% in the third quarter. Geode Capital Management LLC now owns 134,030,679 shares of the information services provider’s stock valued at $22,154,651,000 after acquiring an additional 2,626,431 shares during the period. 40.03% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on GOOGL. Wolfe Research boosted their target price on Alphabet from $220.00 to $230.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. JPMorgan Chase & Co. cut their price objective on Alphabet from $232.00 to $220.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. KeyCorp lifted their target price on Alphabet from $215.00 to $225.00 and gave the stock an “overweight” rating in a research report on Friday, January 10th. DZ Bank cut shares of Alphabet from a “buy” rating to a “hold” rating and set a $198.00 price target on the stock. in a report on Thursday, February 6th. Finally, DA Davidson lifted their price objective on shares of Alphabet from $190.00 to $200.00 and gave the company a “neutral” rating in a report on Friday, January 24th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $210.62.

Alphabet Trading Up 1.1 %

Alphabet stock opened at $170.33 on Monday. The stock has a 50-day moving average price of $190.58 and a 200 day moving average price of $176.31. The company has a market capitalization of $2.08 trillion, a price-to-earnings ratio of 21.16, a price-to-earnings-growth ratio of 1.34 and a beta of 0.99. Alphabet Inc. has a 52 week low of $130.66 and a 52 week high of $207.05. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, beating the consensus estimate of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. Sell-side analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.47%. The ex-dividend date is Monday, March 10th. Alphabet’s dividend payout ratio is currently 9.94%.

Insider Transactions at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 1,340 shares of Alphabet stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $202.08, for a total value of $270,787.20. Following the completion of the transaction, the chief accounting officer now owns 17,848 shares of the company’s stock, valued at approximately $3,606,723.84. The trade was a 6.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ruth Porat sold 17,690 shares of the firm’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $183.48, for a total value of $3,245,761.20. Following the sale, the insider now owns 1,449,286 shares in the company, valued at $265,914,995.28. This trade represents a 1.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 132,942 shares of company stock valued at $24,824,539 in the last 90 days. 11.55% of the stock is currently owned by company 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.