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

Carlton Hofferkamp & Jenks Wealth Management LLC lowered its position in Alphabet Inc. (NASDAQ:GOOGL) by 1.7% during the second quarter, HoldingsChannel.com reports. The firm owned 23,943 shares of the information services provider’s stock after selling 407 shares during the quarter. Alphabet makes up approximately 1.5% of Carlton Hofferkamp & Jenks Wealth Management LLC’s holdings, making the stock its 18th largest holding. Carlton Hofferkamp & Jenks Wealth Management LLC’s holdings in Alphabet were worth $4,219,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Alphabet by 2.9% during the 1st quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider’s stock worth $78,839,544,000 after acquiring an additional 14,307,345 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Alphabet by 11.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 43,865,520 shares of the information services provider’s stock valued at $6,783,364,000 after acquiring an additional 4,473,901 shares in the last quarter. Invesco Ltd. raised its stake in shares of Alphabet by 1.4% in the 1st quarter. Invesco Ltd. now owns 43,648,514 shares of the information services provider’s stock valued at $6,749,806,000 after acquiring an additional 593,345 shares in the last quarter. Deutsche Bank AG raised its stake in shares of Alphabet by 1.9% in the 1st quarter. Deutsche Bank AG now owns 39,792,300 shares of the information services provider’s stock valued at $6,153,481,000 after acquiring an additional 727,335 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Alphabet by 0.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 38,556,577 shares of the information services provider’s stock valued at $5,962,389,000 after acquiring an additional 104,859 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Buying and Selling at Alphabet

In other news, insider John Kent Walker sold 17,816 shares of the business’s stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the sale, the insider directly owned 42,985 shares in the company, valued at approximately $10,635,348.70. The trade was a 29.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Frances Arnold sold 112 shares of the stock in a transaction that occurred on Thursday, October 30th. The stock was sold at an average price of $291.80, for a total value of $32,681.60. Following the completion of the transaction, the director directly owned 18,004 shares of the company’s stock, valued at approximately $5,253,567.20. The trade was a 0.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 190,896 shares of company stock valued at $45,092,175 in the last quarter. 11.64% of the stock is currently owned by corporate insiders.

Alphabet Stock Performance

GOOGL opened at $277.54 on Wednesday. The stock has a market cap of $3.36 trillion, a PE ratio of 27.37, a P/E/G 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. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $291.59. The stock’s 50 day simple moving average is $246.91 and its 200-day simple moving average is $202.13.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. The business had revenue of $102.35 billion for the quarter, compared to analysts’ expectations of $99.90 billion. Alphabet had a return on equity of 36.08% and a net margin of 32.23%. Sell-side analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on GOOGL shares. DA Davidson raised their price objective on Alphabet from $190.00 to $300.00 and gave the company a “neutral” rating in a research note on Thursday, October 30th. Sanford C. Bernstein increased their target price on Alphabet from $260.00 to $305.00 and gave the company a “market perform” rating in a research note on Thursday, October 30th. Guggenheim increased their target price on Alphabet from $280.00 to $330.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. HSBC increased their target price on Alphabet from $295.00 to $335.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Finally, Citic Securities increased their target price on Alphabet from $230.00 to $310.00 and gave the company a “buy” rating in a research note on Monday. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-six have issued a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus 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.