Carlton Hofferkamp & Jenks Wealth Management LLC Sells 207 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Carlton Hofferkamp & Jenks Wealth Management LLC lessened its position in Alphabet Inc. (NASDAQ:GOOGL) by 0.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 24,350 shares of the information services provider’s stock after selling 207 shares during the period. Alphabet makes up about 1.5% of Carlton Hofferkamp & Jenks Wealth Management LLC’s investment portfolio, making the stock its 17th biggest holding. Carlton Hofferkamp & Jenks Wealth Management LLC’s holdings in Alphabet were worth $3,734,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of GOOGL. Wealth Group Ltd. increased its stake in Alphabet by 5.2% in the fourth quarter. Wealth Group Ltd. now owns 1,582 shares of the information services provider’s stock valued at $299,000 after purchasing an additional 78 shares in the last quarter. Capital & Planning LLC increased its stake in Alphabet by 34.3% in the fourth quarter. Capital & Planning LLC now owns 4,383 shares of the information services provider’s stock valued at $830,000 after purchasing an additional 1,119 shares in the last quarter. Eagle Capital Management LLC increased its stake in Alphabet by 0.7% in the fourth quarter. Eagle Capital Management LLC now owns 50,132 shares of the information services provider’s stock valued at $9,490,000 after purchasing an additional 371 shares in the last quarter. Brighton Jones LLC increased its position in shares of Alphabet by 3.9% during the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock worth $20,886,000 after acquiring an additional 4,110 shares in the last quarter. Finally, Union Bancaire Privee UBP SA bought a new stake in shares of Alphabet during the fourth quarter worth $154,716,000. Institutional investors own 40.03% of the company’s stock.

Insider Activity at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total transaction of $1,837,500.00. Following the transaction, the director now owns 261,966 shares in the company, valued at $45,844,050. This represents a 3.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider John Kent Walker sold 11,764 shares of the stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $166.84, for a total transaction of $1,962,705.76. Following the transaction, the insider now owns 49,037 shares in the company, valued at approximately $8,181,333.08. The trade was a 19.35% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 195,570 shares of company stock worth $32,003,532. Insiders own 11.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $189.00 target price on shares of Alphabet in a research note on Wednesday, May 21st. Oppenheimer boosted their price target on Alphabet from $185.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, April 25th. Stifel Nicolaus decreased their price objective on Alphabet from $225.00 to $192.00 and set a “buy” rating for the company in a report on Wednesday, April 23rd. Wedbush set a $190.00 target price on Alphabet and gave the company an “outperform” rating in a research report on Tuesday, April 15th. Finally, UBS Group set a $195.00 price target on Alphabet in a research report on Friday, April 25th. Ten analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $199.75.

Alphabet Stock Down 0.5%

Shares of GOOGL opened at $175.95 on Wednesday. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $207.05. The firm has a market cap of $2.14 trillion, a P/E ratio of 19.62, a price-to-earnings-growth ratio of 1.13 and a beta of 1.01. The firm’s 50-day simple moving average is $163.88 and its 200 day simple moving average is $174.74. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, beating analysts’ consensus estimates of $2.02 by $0.79. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The business had revenue of $76.49 billion for the quarter, compared to analyst estimates of $89.30 billion. During the same quarter in the prior year, the business earned $1.89 EPS. On average, analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were paid a $0.21 dividend. The ex-dividend date was Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a yield of 0.48%. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s dividend payout ratio is 9.36%.

Alphabet Company 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.