Jones Financial Companies Lllp Has $35.38 Million Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Jones Financial Companies Lllp cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 295,528 shares of the information services provider’s stock after selling 4,288 shares during the quarter. Jones Financial Companies Lllp’s holdings in Alphabet were worth $35,375,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Spreng Capital Management Inc. increased its position in shares of Alphabet by 4.0% during the first quarter. Spreng Capital Management Inc. now owns 131 shares of the information services provider’s stock valued at $364,000 after purchasing an additional 5 shares during the period. West Family Investments Inc. increased its holdings in Alphabet by 0.3% in the 1st quarter. West Family Investments Inc. now owns 1,754 shares of the information services provider’s stock valued at $4,878,000 after buying an additional 6 shares during the period. Maple Capital Management Inc. raised its stake in shares of Alphabet by 2.1% in the 1st quarter. Maple Capital Management Inc. now owns 296 shares of the information services provider’s stock valued at $823,000 after buying an additional 6 shares in the last quarter. Private Advisory Group LLC lifted its holdings in shares of Alphabet by 1.8% during the 1st quarter. Private Advisory Group LLC now owns 401 shares of the information services provider’s stock worth $1,115,000 after acquiring an additional 7 shares during the period. Finally, Weik Capital Management boosted its position in shares of Alphabet by 0.5% during the 1st quarter. Weik Capital Management now owns 1,533 shares of the information services provider’s stock valued at $4,264,000 after acquiring an additional 8 shares in the last quarter. Hedge funds and other institutional investors own 35.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Jefferies Financial Group increased their price target on shares of Alphabet from $150.00 to $165.00 in a research report on Wednesday, July 26th. Rosenblatt Securities raised their target price on Alphabet from $163.00 to $174.00 and gave the stock a “buy” rating in a research report on Wednesday, October 25th. Wedbush reiterated an “outperform” rating and issued a $160.00 price target on shares of Alphabet in a research report on Wednesday, October 25th. Piper Sandler boosted their target price on shares of Alphabet from $147.00 to $150.00 and gave the company an “overweight” rating in a research note on Wednesday, October 25th. Finally, Truist Financial lifted their price target on shares of Alphabet from $122.00 to $160.00 in a report on Wednesday, July 26th. Five equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and an average target price of $147.00.

Alphabet Price Performance

Alphabet stock opened at $136.25 on Tuesday. The company has a current ratio of 2.04, a quick ratio of 2.01 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $1.71 trillion, a P/E ratio of 26.15, a PEG ratio of 1.51 and a beta of 1.05. The business has a 50-day moving average of $133.42 and a 200-day moving average of $127.88. Alphabet Inc. has a 1 year low of $84.86 and a 1 year high of $141.22.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Tuesday, October 24th. The information services provider reported $1.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.45 by $0.10. The firm had revenue of $64.05 billion during the quarter, compared to analysts’ expectations of $63.13 billion. Alphabet had a net margin of 22.46% and a return on equity of 25.24%. On average, equities analysts anticipate that Alphabet Inc. will post 5.74 EPS for the current year.

Insider Buying and Selling

In other Alphabet news, Director John L. Hennessy sold 200 shares of the stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $137.30, for a total value of $27,460.00. Following the completion of the sale, the director now directly owns 7,584 shares in the company, valued at $1,041,283.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Alphabet news, Director Frances Arnold sold 250 shares of the stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $124.36, for a total transaction of $31,090.00. Following the completion of the transaction, the director now owns 14,226 shares in the company, valued at approximately $1,769,145.36. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $137.30, for a total value of $27,460.00. Following the completion of the sale, the director now owns 7,584 shares in the company, valued at $1,041,283.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 176,576 shares of company stock valued at $23,425,367. 0.88% of the stock is owned by company insiders.

About Alphabet

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, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.