Jacobs & Co. CA Has $17.90 Million Stake in Alphabet Inc. (NASDAQ:GOOG)

Jacobs & Co. CA cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 94,013 shares of the information services provider’s stock after selling 1,668 shares during the period. Alphabet makes up approximately 1.8% of Jacobs & Co. CA’s holdings, making the stock its 9th biggest position. Jacobs & Co. CA’s holdings in Alphabet were worth $17,904,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of GOOG. Weiss Asset Management LP bought a new stake in shares of Alphabet in the third quarter valued at approximately $25,000. Abich Financial Wealth Management LLC increased its stake in Alphabet by 9,200.0% in the second quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock valued at $34,000 after acquiring an additional 184 shares during the period. Safe Harbor Fiduciary LLC acquired a new position in Alphabet in the third quarter worth about $33,000. HWG Holdings LP acquired a new stake in Alphabet during the second quarter valued at approximately $40,000. Finally, Sanctuary Wealth Management L.L.C. grew its stake in shares of Alphabet by 87.3% in the 3rd quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock valued at $42,000 after purchasing an additional 117 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on GOOG. Barclays increased their price objective on Alphabet from $200.00 to $220.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. lifted their price objective on Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Canaccord Genuity Group increased their price objective on shares of Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Oppenheimer increased their price objective on Alphabet from $185.00 to $215.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Finally, Citigroup lifted their price objective on Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Six equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $200.56.

Insider Transactions at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 37,134 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $185.02, for a total transaction of $6,870,532.68. Following the completion of the sale, the director now directly owns 282,832 shares of the company’s stock, valued at approximately $52,329,576.64. This represents a 11.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 1,368 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $191.55, for a total value of $262,040.40. Following the sale, the chief accounting officer now owns 20,681 shares of the company’s stock, valued at $3,961,445.55. This represents a 6.20 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 155,887 shares of company stock worth $27,996,356. Company insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

Shares of NASDAQ GOOG traded down $0.86 during midday trading on Friday, reaching $194.53. The company’s stock had a trading volume of 10,253,391 shares, compared to its average volume of 15,209,042. The stock has a market capitalization of $2.38 trillion, a P/E ratio of 25.80, a PEG ratio of 1.34 and a beta of 0.99. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The firm has a 50 day moving average price of $183.71 and a 200-day moving average price of $174.52. Alphabet Inc. has a 12-month low of $131.55 and a 12-month high of $202.88.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The firm had revenue of $88.27 billion during the quarter, compared to analyst estimates of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The business’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same period last year, the company earned $1.55 earnings per share. As a group, equities analysts predict that Alphabet Inc. will post 8.02 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 9th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.41%. The ex-dividend date was Monday, December 9th. Alphabet’s dividend payout ratio is presently 10.61%.

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.