JPL Wealth Management LLC Takes $7.93 Million Position in Alphabet Inc. (NASDAQ:GOOGL)

JPL Wealth Management LLC acquired a new position in Alphabet Inc. (NASDAQ:GOOGL) in the fourth quarter, HoldingsChannel reports. The fund acquired 41,910 shares of the information services provider’s stock, valued at approximately $7,934,000. Alphabet comprises 2.3% of JPL Wealth Management LLC’s investment portfolio, making the stock its 7th biggest holding.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GOOGL. Compass Planning Associates Inc bought a new stake in Alphabet during the fourth quarter valued at about $30,000. LMR Partners LLP bought a new stake in shares of Alphabet in the 3rd quarter valued at about $32,000. E Fund Management Hong Kong Co. Ltd. grew its position in shares of Alphabet by 518.8% in the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock worth $37,000 after buying an additional 166 shares during the last quarter. Fiduciary Advisors Inc. bought a new position in shares of Alphabet during the 4th quarter worth approximately $39,000. Finally, PayPay Securities Corp lifted its position in Alphabet by 36.1% during the fourth quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock valued at $46,000 after acquiring an additional 65 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on GOOGL shares. Wells Fargo & Company upped their price target on Alphabet from $187.00 to $190.00 and gave the stock an “equal weight” rating in a research report on Monday, January 13th. Citizens Jmp cut Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Stifel Nicolaus boosted their price target on Alphabet from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Morgan Stanley decreased their price objective on shares of Alphabet from $215.00 to $210.00 and set an “overweight” rating for the company in a research report on Wednesday, February 5th. Finally, Robert W. Baird reissued an “outperform” rating and set a $205.00 target price on shares of Alphabet in a research report on Tuesday, December 10th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $210.59.

Insider Activity at Alphabet

In other news, Director John L. Hennessy sold 200 shares of the stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $165.53, for a total value of $33,106.00. Following the completion of the sale, the director now owns 7,813 shares of the company’s stock, valued at $1,293,285.89. This represents a 2.50 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider John Kent Walker sold 16,820 shares of Alphabet stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the sale, the insider now directly owns 43,981 shares in the company, valued at approximately $8,471,620.22. The trade was a 27.66 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 93,048 shares of company stock valued at $17,374,274. Corporate insiders own 11.55% of the company’s stock.

Alphabet Price Performance

NASDAQ:GOOGL opened at $170.56 on Wednesday. The stock has a 50 day moving average of $181.72 and a two-hundred day moving average of $176.86. Alphabet Inc. has a 12 month low of $147.22 and a 12 month high of $207.05. The firm has a market cap of $2.08 trillion, a P/E ratio of 21.19, a price-to-earnings-growth ratio of 1.34 and a beta of 1.02. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. On average, analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a yield of 0.47%. Alphabet’s payout ratio is presently 9.94%.

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.