Carlton Hofferkamp & Jenks Wealth Management LLC Sells 433 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Carlton Hofferkamp & Jenks Wealth Management LLC lessened its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 1.7% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 25,339 shares of the information services provider’s stock after selling 433 shares during the period. Alphabet comprises approximately 1.3% of Carlton Hofferkamp & Jenks Wealth Management LLC’s holdings, making the stock its 16th biggest position. Carlton Hofferkamp & Jenks Wealth Management LLC’s holdings in Alphabet were worth $2,832,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the business. Live Oak Investment Partners purchased a new position in Alphabet during the fourth quarter valued at approximately $26,000. Sanctuary Wealth Management L.L.C. bought a new stake in shares of Alphabet during the 4th quarter valued at $34,000. Turim 21 Investimentos Ltda. purchased a new position in shares of Alphabet during the 3rd quarter valued at $38,000. IAG Wealth Partners LLC lifted its stake in shares of Alphabet by 100.0% during the 1st quarter. IAG Wealth Partners LLC now owns 400 shares of the information services provider’s stock valued at $41,000 after buying an additional 200 shares in the last quarter. Finally, AM Squared Ltd bought a new position in Alphabet in the 4th quarter worth $44,000. Institutional investors own 35.08% of the company’s stock.

Insider Activity

In related news, SVP Prabhakar Raghavan sold 16,083 shares of the company’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $120.31, for a total transaction of $1,934,945.73. Following the completion of the sale, the senior vice president now directly owns 127,028 shares in the company, valued at approximately $15,282,738.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Prabhakar Raghavan sold 16,083 shares of the company’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $120.31, for a total transaction of $1,934,945.73. Following the completion of the sale, the senior vice president now directly owns 127,028 shares in the company, valued at approximately $15,282,738.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kavitark Ram Shriram sold 31,240 shares of the company’s stock in a transaction on Monday, July 10th. The stock was sold at an average price of $116.82, for a total value of $3,649,456.80. Following the sale, the director now owns 5,364 shares of the company’s stock, valued at $626,622.48. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 163,353 shares of company stock worth $8,576,028. Corporate insiders own 0.88% of the company’s stock.

Alphabet Stock Performance

Shares of Alphabet stock opened at $135.88 on Thursday. The firm has a market cap of $1.71 trillion, a P/E ratio of 28.79, a P/E/G ratio of 1.51 and a beta of 1.06. The company has a current ratio of 2.17, a quick ratio of 2.14 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 12 month low of $83.34 and a 12 month high of $136.57. The stock’s fifty day moving average price is $125.77 and its 200-day moving average price is $114.05.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Tuesday, July 25th. The information services provider reported $1.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.32 by $0.12. Alphabet had a net margin of 21.05% and a return on equity of 23.49%. The firm had revenue of $74.60 billion for the quarter, compared to the consensus estimate of $60.24 billion. During the same period last year, the firm earned $1.21 earnings per share. On average, equities research analysts expect that Alphabet Inc. will post 5.68 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on GOOGL. Stifel Nicolaus boosted their price objective on Alphabet from $130.00 to $135.00 and gave the company a “buy” rating in a research report on Friday, July 21st. Robert W. Baird boosted their price target on Alphabet from $123.00 to $130.00 and gave the stock an “outperform” rating in a report on Friday, July 21st. Needham & Company LLC restated a “buy” rating and issued a $140.00 price target on shares of Alphabet in a research note on Friday, August 11th. Rosenblatt Securities upped their price target on Alphabet from $132.00 to $163.00 and gave the stock a “buy” rating in a research note on Wednesday, July 26th. Finally, Loop Capital lifted their price objective on Alphabet from $125.00 to $140.00 and gave the stock a “hold” rating in a research note on Friday, August 18th. Four research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $143.08.

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