JFG Wealth Management LLC Invests $344,000 in Alphabet Inc. (NASDAQ:GOOG)

JFG Wealth Management LLC acquired a new position in Alphabet Inc. (NASDAQ:GOOG) during the third quarter, according to its most recent filing with the SEC. The firm acquired 2,057 shares of the information services provider’s stock, valued at approximately $344,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Johnson Financial Group LLC lifted its stake in shares of Alphabet by 2.6% in the 3rd quarter. Johnson Financial Group LLC now owns 2,360 shares of the information services provider’s stock valued at $395,000 after purchasing an additional 60 shares during the period. Focused Wealth Management Inc raised its stake in Alphabet by 6.4% during the third quarter. Focused Wealth Management Inc now owns 8,624 shares of the information services provider’s stock valued at $1,442,000 after buying an additional 517 shares during the last quarter. River Road Asset Management LLC raised its stake in Alphabet by 116.5% during the third quarter. River Road Asset Management LLC now owns 204,856 shares of the information services provider’s stock valued at $34,250,000 after buying an additional 110,235 shares during the last quarter. Arthur M. Cohen & Associates LLC boosted its holdings in Alphabet by 1.5% in the third quarter. Arthur M. Cohen & Associates LLC now owns 135,507 shares of the information services provider’s stock worth $22,822,000 after acquiring an additional 2,039 shares in the last quarter. Finally, Hanlon Investment Management Inc. boosted its holdings in Alphabet by 8.7% in the third quarter. Hanlon Investment Management Inc. now owns 2,499 shares of the information services provider’s stock worth $418,000 after acquiring an additional 199 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Stock Performance

Shares of GOOG stock opened at $171.41 on Wednesday. The stock has a market cap of $2.11 trillion, a PE ratio of 22.73, a price-to-earnings-growth ratio of 1.22 and a beta of 1.04. The business has a 50-day simple moving average of $163.97 and a 200-day simple moving average of $170.83. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 52-week low of $129.40 and a 52-week high of $193.31.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping the consensus estimate of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The company had revenue of $88.27 billion during the quarter, compared to analyst estimates of $86.39 billion. During the same period in the previous year, the business earned $1.55 EPS. Alphabet’s quarterly revenue was up 15.1% on a year-over-year basis. On average, equities analysts expect that Alphabet Inc. will post 7.97 EPS for the current year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.47%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

Insider Activity at Alphabet

In related news, Director Kavitark Ram Shriram sold 10,500 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total value of $1,898,190.00. Following the completion of the sale, the director now owns 330,466 shares in the company, valued at $59,741,643.48. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Kavitark Ram Shriram sold 10,500 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the completion of the transaction, the director now directly owns 330,466 shares of the company’s stock, valued at $59,741,643.48. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 2,835 shares of Alphabet stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total transaction of $429,587.55. Following the completion of the sale, the chief accounting officer now directly owns 29,182 shares of the company’s stock, valued at $4,421,948.46. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 209,552 shares of company stock valued at $34,433,848 over the last quarter. 12.99% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on GOOG. Cantor Fitzgerald raised Alphabet to a “hold” rating in a report on Thursday, September 5th. Wolfe Research raised Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. Wells Fargo & Company boosted their target price on Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Seaport Res Ptn raised Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Finally, Jefferies Financial Group upped their price objective on Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and a consensus target price of $200.56.

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.