Carlton Hofferkamp & Jenks Wealth Management LLC Cuts Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Carlton Hofferkamp & Jenks Wealth Management LLC lowered its stake in Alphabet Inc. (NASDAQ:GOOG) by 2.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,682 shares of the information services provider’s stock after selling 250 shares during the period. Carlton Hofferkamp & Jenks Wealth Management LLC’s holdings in Alphabet were worth $2,258,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of GOOG. Swedbank AB grew its holdings in Alphabet by 0.6% in the 3rd quarter. Swedbank AB now owns 8,338,900 shares of the information services provider’s stock worth $1,394,181,000 after acquiring an additional 51,226 shares during the last quarter. United Advisor Group LLC boosted its holdings in shares of Alphabet by 50.5% during the third quarter. United Advisor Group LLC now owns 4,908 shares of the information services provider’s stock worth $821,000 after purchasing an additional 1,646 shares during the period. Sentry Investment Management LLC grew its stake in shares of Alphabet by 7.4% in the third quarter. Sentry Investment Management LLC now owns 26,145 shares of the information services provider’s stock worth $4,371,000 after purchasing an additional 1,812 shares during the last quarter. Amalgamated Bank increased its holdings in Alphabet by 0.4% during the 3rd quarter. Amalgamated Bank now owns 1,055,056 shares of the information services provider’s stock valued at $176,395,000 after purchasing an additional 3,758 shares during the period. Finally, Arista Wealth Management LLC raised its position in Alphabet by 39.7% during the 3rd quarter. Arista Wealth Management LLC now owns 1,622 shares of the information services provider’s stock valued at $271,000 after purchasing an additional 461 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on GOOG. Benchmark reissued a “negative” rating on shares of Alphabet in a research note on Wednesday, February 5th. Needham & Company LLC reissued a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. Citizens Jmp cut shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research 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 research report on Thursday, January 30th. Finally, Scotiabank raised their price objective on shares of Alphabet from $212.00 to $240.00 and gave the stock a “sector outperform” rating in a report on Friday, January 24th. One research analyst has rated the stock with a sell rating, six have assigned 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, Alphabet currently has an average rating of “Moderate Buy” and a consensus price target of $209.13.

Alphabet Stock Up 1.4 %

NASDAQ:GOOG opened at $174.99 on Thursday. The firm has a 50-day simple moving average of $190.68 and a two-hundred day simple moving average of $177.91. The firm has a market cap of $2.13 trillion, a P/E ratio of 21.74, a P/E/G ratio of 1.34 and a beta of 1.00. Alphabet Inc. has a fifty-two week low of $131.95 and a fifty-two week high of $208.70. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, beating 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%. Analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be given a dividend of $0.20 per share. The ex-dividend date is Monday, March 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.46%. Alphabet’s dividend payout ratio (DPR) is presently 9.94%.

Insider Buying and Selling

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