Jones Financial Companies Lllp Buys 2,682 Shares of Alphabet Inc. (NASDAQ:GOOG)

Jones Financial Companies Lllp increased its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 52.5% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 7,787 shares of the information services provider’s stock after acquiring an additional 2,682 shares during the quarter. Jones Financial Companies Lllp’s holdings in Alphabet were worth $942,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Financial Gravity Asset Management Inc. boosted its position in shares of Alphabet by 4.2% during the second quarter. Financial Gravity Asset Management Inc. now owns 8,572 shares of the information services provider’s stock worth $2,617,000 after acquiring an additional 342 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its position in Alphabet by 14.7% during the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 4,856,940 shares of the information services provider’s stock valued at $587,544,000 after purchasing an additional 620,768 shares during the last quarter. Concentrum Wealth Management lifted its position in Alphabet by 1.2% during the second quarter. Concentrum Wealth Management now owns 13,157 shares of the information services provider’s stock valued at $1,592,000 after purchasing an additional 160 shares during the last quarter. Virginia Wealth Management Group Inc. bought a new position in Alphabet during the second quarter valued at $207,000. Finally, Rational Advisors LLC lifted its position in Alphabet by 1,291.0% during the second quarter. Rational Advisors LLC now owns 2,782 shares of the information services provider’s stock valued at $337,000 after purchasing an additional 2,582 shares during the last quarter. Institutional investors own 27.13% of the company’s stock.

Alphabet Trading Up 1.8 %

GOOG stock opened at $134.06 on Friday. The company has a market capitalization of $1.68 trillion, a PE ratio of 25.73, a P/E/G ratio of 1.50 and a beta of 1.05. Alphabet Inc. has a 12 month low of $85.57 and a 12 month high of $142.38. The firm’s 50-day moving average is $134.62 and its 200 day moving average is $127.29. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.04 and a quick ratio of 2.01.

Insider Buying and Selling

In related news, Director Kavitark Ram Shriram sold 75,000 shares of the firm’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $131.09, for a total value of $9,831,750.00. Following the transaction, the director now owns 104,364 shares of the company’s stock, valued at approximately $13,681,076.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Alphabet news, Director Frances Arnold sold 250 shares of the stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $124.36, for a total transaction of $31,090.00. Following the transaction, the director now directly owns 14,226 shares in the company, valued at approximately $1,769,145.36. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kavitark Ram Shriram sold 75,000 shares of the stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $131.09, for a total transaction of $9,831,750.00. Following the transaction, the director now owns 104,364 shares in the company, valued at $13,681,076.76. The disclosure for this sale can be found here. Insiders have sold 176,376 shares of company stock valued at $23,398,783 in the last 90 days. Company insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on GOOG. Oppenheimer reiterated an “outperform” rating and set a $160.00 price objective on shares of Alphabet in a research report on Wednesday, October 25th. Susquehanna increased their price objective on shares of Alphabet from $120.00 to $150.00 in a research report on Wednesday, July 26th. Robert W. Baird increased their price objective on shares of Alphabet from $123.00 to $140.00 in a research report on Wednesday, July 26th. Finally, Wedbush began coverage on shares of Alphabet in a research note on Monday, August 21st. They issued an “outperform” rating on the stock. Ten research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $130.69.

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