Jackson Thornton Wealth Management LLC Raises Position in Alphabet Inc. (NASDAQ:GOOG)

Jackson Thornton Wealth Management LLC raised its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 115.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,209 shares of the information services provider’s stock after purchasing an additional 2,253 shares during the period. Jackson Thornton Wealth Management LLC’s holdings in Alphabet were worth $802,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Angeles Investment Advisors LLC raised its holdings in shares of Alphabet by 17.4% in the fourth quarter. Angeles Investment Advisors LLC now owns 4,631 shares of the information services provider’s stock worth $882,000 after buying an additional 688 shares during the period. Clune & Associates LTD. purchased a new stake in shares of Alphabet in the fourth quarter worth approximately $784,000. Mountain Hill Investment Partners Corp. purchased a new stake in shares of Alphabet in the fourth quarter worth approximately $39,000. Crowley Wealth Management Inc. purchased a new stake in shares of Alphabet in the fourth quarter worth approximately $1,406,000. Finally, FCA Corp TX raised its holdings in shares of Alphabet by 1.1% in the fourth quarter. FCA Corp TX now owns 16,851 shares of the information services provider’s stock worth $3,209,000 after buying an additional 182 shares during the period. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Stock Up 0.7 %

Shares of NASDAQ GOOG opened at $166.25 on Monday. 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 stock has a market capitalization of $2.03 trillion, a PE ratio of 20.65, a price-to-earnings-growth ratio of 1.34 and a beta of 1.03. The stock’s fifty day simple moving average is $184.37 and its two-hundred day simple moving average is $178.22. Alphabet Inc. has a 12-month low of $148.20 and a 12-month high of $208.70.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, topping analysts’ consensus estimates 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, analysts expect that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were given a $0.20 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.48%. Alphabet’s payout ratio is 9.94%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Morgan Stanley reiterated an “overweight” rating on shares of Alphabet in a report on Wednesday, February 5th. Citizens Jmp downgraded Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Benchmark restated a “negative” rating on shares of Alphabet in a report on Wednesday, February 5th. The Goldman Sachs Group restated a “buy” rating on shares of Alphabet in a report on Wednesday, February 5th. Finally, Oppenheimer raised their price objective on Alphabet from $215.00 to $225.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. One analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $209.13.

Insider Transactions at Alphabet

In other news, Director Kavitark Ram Shriram sold 29,066 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $184.89, for a total value of $5,374,012.74. Following the completion of the sale, the director now owns 272,466 shares of the company’s stock, valued at $50,376,238.74. This trade represents a 9.64 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John Kent Walker sold 17,690 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $185.51, for a total value of $3,281,671.90. Following the completion of the sale, the insider now directly owns 43,111 shares of the company’s stock, valued at $7,997,521.61. The trade was a 29.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 93,048 shares of company stock valued at $17,374,274 in the last quarter. 12.99% of the stock is currently owned by corporate insiders.

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