Jackson Wealth Management LLC Has $14.31 Million Stock Holdings in Alphabet Inc. $GOOGL

Jackson Wealth Management LLC grew its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 34.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 58,862 shares of the information services provider’s stock after purchasing an additional 15,151 shares during the period. Alphabet makes up about 1.4% of Jackson Wealth Management LLC’s portfolio, making the stock its 16th biggest position. Jackson Wealth Management LLC’s holdings in Alphabet were worth $14,309,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of GOOGL. Breakwater Investment Management raised its stake in Alphabet by 1.0% during the third quarter. Breakwater Investment Management now owns 4,228 shares of the information services provider’s stock worth $1,028,000 after acquiring an additional 41 shares in the last quarter. Beddow Capital Management Inc. grew its holdings in shares of Alphabet by 2.0% during the 2nd quarter. Beddow Capital Management Inc. now owns 2,510 shares of the information services provider’s stock valued at $445,000 after purchasing an additional 50 shares during the last quarter. Gimbal Financial lifted its stake in Alphabet by 1.9% in the 2nd quarter. Gimbal Financial now owns 2,776 shares of the information services provider’s stock valued at $489,000 after purchasing an additional 53 shares during the last quarter. Missouri Trust & Investment Co lifted its stake in Alphabet by 0.3% in the 2nd quarter. Missouri Trust & Investment Co now owns 16,916 shares of the information services provider’s stock valued at $2,981,000 after purchasing an additional 55 shares during the last quarter. Finally, Silver Coast Investments LLC boosted its position in Alphabet by 1.3% in the second quarter. Silver Coast Investments LLC now owns 4,317 shares of the information services provider’s stock valued at $761,000 after buying an additional 55 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CAO Amie Thuener O’toole sold 2,778 shares of Alphabet stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $250.05, for a total value of $694,638.90. Following the completion of the transaction, the chief accounting officer directly owned 14,516 shares of the company’s stock, valued at approximately $3,629,725.80. This trade represents a 16.06% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $283.48, for a total value of $9,213,100.00. Following the completion of the transaction, the chief executive officer directly owned 2,337,119 shares in the company, valued at $662,526,494.12. This represents a 1.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 226,128 shares of company stock valued at $63,183,331 over the last quarter. Insiders own 11.64% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on GOOGL shares. Canaccord Genuity Group upped their price target on shares of Alphabet from $270.00 to $330.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Wedbush restated an “outperform” rating and set a $320.00 price objective (up previously from $245.00) on shares of Alphabet in a research report on Thursday, October 30th. Citigroup reaffirmed a “buy” rating and issued a $343.00 target price (up previously from $280.00) on shares of Alphabet in a report on Thursday, October 30th. Wall Street Zen raised Alphabet from a “hold” rating to a “buy” rating in a research note on Saturday, November 1st. Finally, Needham & Company LLC boosted their price target on Alphabet from $260.00 to $330.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Four research analysts have rated the stock with a Strong Buy rating, forty-one have assigned a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $315.18.

Alphabet Price Performance

Shares of GOOGL opened at $296.72 on Thursday. The business has a 50-day moving average of $286.56 and a 200-day moving average of $232.35. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.75 and a quick ratio of 1.75. The company has a market capitalization of $3.58 trillion, a price-to-earnings ratio of 29.26, a price-to-earnings-growth ratio of 1.77 and a beta of 1.07. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $328.83.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, beating the consensus estimate of $2.29 by $0.58. Alphabet had a return on equity of 35.00% and a net margin of 32.23%.The business had revenue of $102.35 billion for the quarter, compared to analysts’ expectations of $99.90 billion. As a group, equities research analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 8th were given a dividend of $0.21 per share. The ex-dividend date was Monday, December 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. Alphabet’s dividend payout ratio is 8.28%.

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