Alphabet Inc. $GOOGL Stock Holdings Trimmed by Carlton Hofferkamp & Jenks Wealth Management LLC

Carlton Hofferkamp & Jenks Wealth Management LLC lowered its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,943 shares of the information services provider’s stock after selling 407 shares during the period. Alphabet makes up 1.5% of Carlton Hofferkamp & Jenks Wealth Management LLC’s holdings, making the stock its 18th largest position. Carlton Hofferkamp & Jenks Wealth Management LLC’s holdings in Alphabet were worth $4,219,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Guardian Wealth Management Inc. raised its stake in Alphabet by 242.9% during the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock valued at $26,000 after acquiring an additional 119 shares in the last quarter. von Borstel & Associates Inc. acquired a new position in shares of Alphabet during the 1st quarter valued at $28,000. IMA Advisory Services Inc. acquired a new position in shares of Alphabet during the 1st quarter valued at $28,000. NBZ Investment Advisors LLC increased its position in shares of Alphabet by 85.7% during the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock valued at $30,000 after purchasing an additional 90 shares during the period. Finally, Financial Gravity Asset Management Inc. acquired a new position in Alphabet during the first quarter worth about $39,000. Institutional investors own 40.03% of the company’s stock.

Alphabet Trading Down 2.2%

Shares of NASDAQ GOOGL opened at $277.54 on Wednesday. Alphabet Inc. has a one year low of $140.53 and a one year high of $291.59. The firm has a market capitalization of $3.36 trillion, a PE ratio of 27.37, a PEG ratio of 1.86 and a beta of 1.00. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The business has a 50-day moving average price of $246.91 and a two-hundred day moving average price of $202.13.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The firm had revenue of $102.35 billion during the quarter, compared to analyst estimates of $99.90 billion. As a group, analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Insider Activity

In other Alphabet news, CAO Amie Thuener O’toole sold 954 shares of the firm’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $282.33, for a total transaction of $269,342.82. Following the completion of the sale, the chief accounting officer directly owned 14,517 shares in the company, valued at approximately $4,098,584.61. This trade represents a 6.17% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider John Kent Walker sold 17,816 shares of the firm’s stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $247.42, for a total value of $4,408,034.72. Following the sale, the insider owned 42,985 shares of the company’s stock, valued at $10,635,348.70. The trade was a 29.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 190,896 shares of company stock worth $45,092,175. Corporate insiders own 11.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on GOOGL. DA Davidson lifted their target price on Alphabet from $190.00 to $300.00 and gave the stock a “neutral” rating in a report on Thursday, October 30th. Truist Financial lifted their target price on Alphabet from $285.00 to $320.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. BNP Paribas Exane lifted their target price on Alphabet from $247.00 to $281.00 and gave the stock a “neutral” rating in a report on Monday. Morgan Stanley lifted their target price on Alphabet from $270.00 to $330.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. Finally, HSBC boosted their target price on Alphabet from $295.00 to $335.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-six have given a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $303.09.

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.