Carlton Hofferkamp & Jenks Wealth Management LLC Has $3.73 Million Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Carlton Hofferkamp & Jenks Wealth Management LLC lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.8% during the first quarter, HoldingsChannel.com reports. The firm owned 24,350 shares of the information services provider’s stock after selling 207 shares during the quarter. Alphabet makes up about 1.5% of Carlton Hofferkamp & Jenks Wealth Management LLC’s holdings, making the stock its 17th biggest holding. Carlton Hofferkamp & Jenks Wealth Management LLC’s holdings in Alphabet were worth $3,734,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Macroview Investment Management LLC increased its position in shares of Alphabet by 4.2% during the fourth quarter. Macroview Investment Management LLC now owns 1,293 shares of the information services provider’s stock worth $245,000 after buying an additional 52 shares during the period. Cornerstone Planning Group LLC increased its position in shares of Alphabet by 2.3% during the fourth quarter. Cornerstone Planning Group LLC now owns 2,381 shares of the information services provider’s stock worth $457,000 after buying an additional 53 shares during the period. Addison Advisors LLC increased its position in shares of Alphabet by 0.7% during the fourth quarter. Addison Advisors LLC now owns 7,527 shares of the information services provider’s stock worth $1,425,000 after buying an additional 53 shares during the period. Burt Wealth Advisors increased its position in shares of Alphabet by 1.0% during the fourth quarter. Burt Wealth Advisors now owns 5,307 shares of the information services provider’s stock worth $1,005,000 after buying an additional 54 shares during the period. Finally, Perritt Capital Management Inc increased its position in shares of Alphabet by 10.4% during the fourth quarter. Perritt Capital Management Inc now owns 618 shares of the information services provider’s stock worth $117,000 after buying an additional 58 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Truist Financial reduced their price target on shares of Alphabet from $220.00 to $200.00 and set a “buy” rating for the company in a report on Thursday, April 17th. Susquehanna reduced their price target on shares of Alphabet from $225.00 to $220.00 and set a “positive” rating for the company in a report on Friday, April 25th. JMP Securities restated a “market perform” rating on shares of Alphabet in a report on Wednesday, May 21st. Mizuho reduced their price target on shares of Alphabet from $230.00 to $205.00 and set an “outperform” rating for the company in a report on Wednesday, April 9th. Finally, Roth Mkm restated a “buy” rating and issued a $220.00 price target on shares of Alphabet in a report on Wednesday, March 19th. Ten investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and an average price target of $199.75.

Insiders Place Their Bets

In other news, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $161.90, for a total value of $32,380.00. Following the completion of the transaction, the director now owns 7,613 shares in the company, valued at $1,232,544.70. This trade represents a 2.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 673 shares of Alphabet stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total transaction of $104,537.09. Following the completion of the transaction, the chief accounting officer now owns 15,303 shares of the company’s stock, valued at $2,377,014.99. The trade was a 4.21% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 195,570 shares of company stock valued at $32,003,532. Company insiders own 11.55% of the company’s stock.

Alphabet Stock Performance

Shares of GOOGL stock opened at $175.95 on Wednesday. The firm has a market cap of $2.14 trillion, a price-to-earnings ratio of 19.62, a P/E/G ratio of 1.13 and a beta of 1.01. 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 Inc. has a 52 week low of $140.53 and a 52 week high of $207.05. The firm’s 50-day simple moving average is $163.88 and its two-hundred day simple moving average is $174.74.

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

Alphabet Increases Dividend

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

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.