Jones Financial Companies Lllp Reduces Position in Alphabet Inc. (NASDAQ:GOOGL)

Jones Financial Companies Lllp reduced its position in Alphabet Inc. (NASDAQ:GOOGL) by 1.4% in the 2nd quarter, according to its most recent disclosure 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 reporting period.

Several other large investors have also modified their holdings of the company. Live Oak Investment Partners purchased a new position in shares of Alphabet in the 4th quarter valued at approximately $26,000. Armor Investment Advisors LLC acquired a new stake in shares of Alphabet during the second quarter worth $28,000. CarsonAllaria Wealth Management Ltd. grew its position in Alphabet by 136.7% in the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 284 shares of the information services provider’s stock valued at $34,000 after buying an additional 164 shares during the last quarter. Sanctuary Wealth Management L.L.C. acquired a new position in Alphabet in the 4th quarter valued at $34,000. Finally, Turim 21 Investimentos Ltda. purchased a new position in Alphabet during the 3rd quarter worth $38,000. 35.08% of the stock is owned by institutional investors and hedge funds.

Alphabet Stock Performance

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

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

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 3,749 shares of the business’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $136.28, for a total transaction of $510,913.72. Following the transaction, the chief accounting officer now owns 25,568 shares in the company, valued at $3,484,407.04. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, SVP Prabhakar Raghavan sold 16,083 shares of Alphabet stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $133.82, for a total transaction of $2,152,227.06. Following the sale, the senior vice president now owns 75,621 shares of the company’s stock, valued at approximately $10,119,602.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 3,749 shares of the business’s stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $136.28, for a total transaction of $510,913.72. Following the completion of the transaction, the chief accounting officer now owns 25,568 shares in the company, valued at approximately $3,484,407.04. The disclosure for this sale can be found here. In the last three months, insiders sold 176,576 shares of company stock valued at $23,425,367. Company insiders own 0.88% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of a number of recent analyst reports. Piper Sandler boosted their price target on shares of Alphabet from $147.00 to $150.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 25th. Monness Crespi & Hardt downgraded Alphabet from a “buy” rating to a “neutral” rating in a research note on Wednesday, October 25th. Loop Capital increased their price objective on Alphabet from $125.00 to $140.00 and gave the stock a “hold” rating in a research report on Friday, August 18th. Royal Bank of Canada restated an “outperform” rating and set a $155.00 target price on shares of Alphabet in a research report on Wednesday, October 25th. Finally, Wells Fargo & Company increased their price target on shares of Alphabet from $126.00 to $129.00 and gave the company an “equal weight” rating in a report on Thursday, November 16th. Five research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Alphabet has an average rating of “Moderate Buy” and an average target price of $147.00.

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