Alphabet Inc. (NASDAQ:GOOG) Stake Lessened by Jacobi Capital Management LLC

Jacobi Capital Management LLC lessened its stake in Alphabet Inc. (NASDAQ:GOOG) by 1.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 45,092 shares of the information services provider’s stock after selling 832 shares during the period. Alphabet comprises about 0.6% of Jacobi Capital Management LLC’s investment portfolio, making the stock its 23rd largest position. Jacobi Capital Management LLC’s holdings in Alphabet were worth $8,587,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Weiss Asset Management LP bought a new stake in shares of Alphabet in the third quarter worth $25,000. Fiduciary Advisors Inc. bought a new stake in Alphabet during the fourth quarter valued at $27,000. Safe Harbor Fiduciary LLC bought a new stake in Alphabet during the third quarter valued at $33,000. Sanctuary Wealth Management L.L.C. increased its stake in Alphabet by 87.3% during the third 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 last quarter. Finally, Noble Wealth Management PBC bought a new stake in Alphabet during the fourth quarter valued at $43,000. Institutional investors own 27.26% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on GOOG shares. Scotiabank boosted their target price on shares of Alphabet from $212.00 to $240.00 and gave the company a “sector outperform” rating in a research note on Friday, January 24th. Wedbush reissued an “outperform” rating and set a $220.00 price target on shares of Alphabet in a report on Thursday, January 30th. Citizens Jmp downgraded shares of Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Oppenheimer boosted their price target on shares of Alphabet from $215.00 to $225.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Alphabet in a report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and an average price target of $209.13.

Insider Activity

In other news, CAO Amie Thuener O’toole sold 1,374 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $173.47, for a total value of $238,347.78. Following the transaction, the chief accounting officer now owns 15,024 shares in the company, valued at $2,606,213.28. This represents a 8.38 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kavitark Ram Shriram sold 37,134 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $185.02, for a total value of $6,870,532.68. Following the completion of the transaction, the director now owns 282,832 shares in the company, valued at $52,329,576.64. This represents a 11.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 134,316 shares of company stock worth $25,062,887 in the last 90 days. Company insiders own 12.99% of the company’s stock.

Alphabet Price Performance

Shares of Alphabet stock opened at $168.66 on Tuesday. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The company’s 50-day moving average price is $191.63 and its two-hundred day moving average price is $177.88. Alphabet Inc. has a 52 week low of $131.55 and a 52 week high of $208.70. The stock has a market cap of $2.06 trillion, a PE ratio of 20.95, a price-to-earnings-growth ratio of 1.34 and a beta of 1.00.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. As a group, sell-side analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.47%. Alphabet’s dividend payout ratio is 9.94%.

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.