Joseph Group Capital Management Has $5.11 Million Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Joseph Group Capital Management increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 21.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 26,992 shares of the information services provider’s stock after acquiring an additional 4,681 shares during the quarter. Alphabet makes up about 2.0% of Joseph Group Capital Management’s holdings, making the stock its 10th largest position. Joseph Group Capital Management’s holdings in Alphabet were worth $5,110,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of GOOGL. State Street Corp raised its holdings in shares of Alphabet by 0.3% in the 3rd quarter. State Street Corp now owns 222,555,548 shares of the information services provider’s stock worth $36,910,838,000 after purchasing an additional 743,369 shares during the period. Geode Capital Management LLC raised its stake in shares of Alphabet by 2.0% in the third quarter. Geode Capital Management LLC now owns 134,030,679 shares of the information services provider’s stock valued at $22,154,651,000 after buying an additional 2,626,431 shares during the period. Norges Bank bought a new stake in shares of Alphabet in the fourth quarter valued at $24,383,677,000. JPMorgan Chase & Co. lifted its position in shares of Alphabet by 7.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider’s stock valued at $10,559,240,000 after buying an additional 4,567,275 shares during the last quarter. Finally, Fisher Asset Management LLC grew its stake in shares of Alphabet by 1.5% during the 4th quarter. Fisher Asset Management LLC now owns 50,615,038 shares of the information services provider’s stock worth $9,581,427,000 after acquiring an additional 757,138 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. DA Davidson upped their price objective on shares of Alphabet from $190.00 to $200.00 and gave the company a “neutral” rating in a report on Friday, January 24th. JPMorgan Chase & Co. dropped their price target on shares of Alphabet from $232.00 to $220.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 5th. Wells Fargo & Company reduced their price objective on shares of Alphabet from $184.00 to $167.00 and set an “equal weight” rating for the company in a research note on Monday, March 31st. Citizens Jmp downgraded Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. Finally, Stifel Nicolaus lifted their price target on Alphabet from $200.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Ten analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and five have given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $209.13.

Alphabet Stock Performance

Shares of GOOGL stock opened at $146.75 on Tuesday. The firm has a market capitalization of $1.79 trillion, a price-to-earnings ratio of 18.23, a PEG ratio of 1.34 and a beta of 1.03. The stock has a fifty day moving average of $174.25 and a 200 day moving average of $176.82. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $207.05. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. As a group, research analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were issued a $0.20 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.80 annualized dividend and a yield of 0.55%. Alphabet’s dividend payout ratio (DPR) is presently 9.94%.

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total value of $5,153,200.00. Following the completion of the transaction, the chief executive officer now owns 2,717,696 shares in the company, valued at approximately $430,917,877.76. This represents a 1.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 2,834 shares of the firm’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $194.32, for a total value of $550,702.88. Following the transaction, the chief accounting officer now directly owns 17,847 shares of the company’s stock, valued at $3,468,029.04. This represents a 13.70 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 119,797 shares of company stock valued at $21,089,470. 11.55% of the stock is currently owned by corporate insiders.

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.