Jag Capital Management LLC Sells 48,459 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Jag Capital Management LLC decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 19.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 196,656 shares of the information services provider’s stock after selling 48,459 shares during the quarter. Alphabet makes up about 4.2% of Jag Capital Management LLC’s holdings, making the stock its 4th biggest position. Jag Capital Management LLC’s holdings in Alphabet were worth $27,471,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of GOOGL. FMR LLC increased its stake in shares of Alphabet by 5.6% during the 3rd quarter. FMR LLC now owns 227,317,469 shares of the information services provider’s stock worth $29,746,764,000 after purchasing an additional 12,070,681 shares during the last quarter. International Assets Investment Management LLC grew its stake in Alphabet by 4,894.1% in the 4th quarter. International Assets Investment Management LLC now owns 5,445,396 shares of the information services provider’s stock valued at $7,606,670,000 after buying an additional 5,336,359 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC acquired a new position in Alphabet in the 3rd quarter valued at $634,465,000. Ontario Teachers Pension Plan Board acquired a new position in Alphabet in the 3rd quarter valued at $601,545,000. Finally, Lone Pine Capital LLC acquired a new position in Alphabet in the 3rd quarter valued at $407,367,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Trading Up 0.5 %

Shares of NASDAQ GOOGL opened at $177.85 on Wednesday. Alphabet Inc. has a 1-year low of $115.35 and a 1-year high of $178.77. The company has a 50-day moving average of $158.79 and a two-hundred day moving average of $145.98. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05. The company has a market cap of $2.20 trillion, a PE ratio of 27.28, a P/E/G ratio of 1.35 and a beta of 1.02.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.49 by $0.40. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The company had revenue of $80.54 billion during the quarter, compared to analysts’ expectations of $66.04 billion. During the same quarter in the previous year, the company earned $1.17 EPS. As a group, equities analysts expect that Alphabet Inc. will post 7.61 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 10th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.45%. The ex-dividend date of this dividend is Monday, June 10th.

Analyst Ratings Changes

GOOGL has been the topic of a number of research analyst reports. JPMorgan Chase & Co. raised their target price on shares of Alphabet from $165.00 to $200.00 and gave the company an “overweight” rating in a research note on Friday, April 26th. BMO Capital Markets reiterated an “outperform” rating and issued a $215.00 target price on shares of Alphabet in a research note on Wednesday, May 15th. Argus raised their price target on shares of Alphabet from $170.00 to $200.00 and gave the stock a “buy” rating in a research report on Tuesday, April 30th. Robert W. Baird raised their price target on shares of Alphabet from $160.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Finally, Susquehanna raised their price target on shares of Alphabet from $170.00 to $225.00 and gave the stock a “positive” rating in a research report on Monday, April 29th. Five research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $190.60.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $136.49, for a total transaction of $93,086.18. Following the completion of the sale, the chief accounting officer now owns 28,602 shares in the company, valued at approximately $3,903,886.98. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $132.70, for a total value of $2,985,750.00. Following the transaction, the chief executive officer now owns 2,332,691 shares of the company’s stock, valued at $309,548,095.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $136.49, for a total transaction of $93,086.18. Following the completion of the transaction, the chief accounting officer now directly owns 28,602 shares in the company, valued at approximately $3,903,886.98. The disclosure for this sale can be found here. Insiders sold a total of 205,935 shares of company stock worth $31,178,987 in the last quarter. 11.55% of the stock is owned by company 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.