Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Garner Asset Management Corp

Garner Asset Management Corp cut its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.4% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 23,070 shares of the information services provider’s stock after selling 100 shares during the period. Alphabet comprises about 2.0% of Garner Asset Management Corp’s holdings, making the stock its 8th biggest holding. Garner Asset Management Corp’s holdings in Alphabet were worth $4,231,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Richardson Financial Services Inc. purchased a new stake in shares of Alphabet during the fourth quarter worth $34,000. 1620 Investment Advisors Inc. purchased a new stake in shares of Alphabet during the second quarter worth $37,000. Slocum Gordon & Co LLP purchased a new stake in shares of Alphabet during the second quarter worth $44,000. Hoese & Co LLP grew its holdings in shares of Alphabet by 62.5% during the second quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock worth $45,000 after buying an additional 100 shares in the last quarter. Finally, Iron Horse Wealth Management LLC purchased a new stake in shares of Alphabet during the second quarter worth $48,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GOOG has been the subject of a number of research reports. DA Davidson raised shares of Alphabet to a “hold” rating in a report on Tuesday, September 10th. TD Cowen upped their price objective on shares of Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Cantor Fitzgerald raised shares of Alphabet to a “hold” rating in a report on Thursday, September 5th. Rosenblatt Securities lowered shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective for the company. in a report on Friday, June 28th. Finally, Oppenheimer upped their price objective on shares of Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and a consensus target price of $182.86.

Insiders Place Their Bets

In other news, CAO Amie Thuener O’toole sold 2,835 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total transaction of $429,587.55. Following the sale, the chief accounting officer now owns 29,182 shares of the company’s stock, valued at $4,421,948.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CAO Amie Thuener O’toole sold 2,835 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total transaction of $429,587.55. Following the sale, the chief accounting officer now owns 29,182 shares of the company’s stock, valued at $4,421,948.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $186.74, for a total transaction of $4,201,650.00. Following the sale, the chief executive officer now directly owns 2,227,385 shares in the company, valued at approximately $415,941,874.90. The disclosure for this sale can be found here. Insiders sold a total of 202,667 shares of company stock valued at $33,964,256 over the last 90 days. 12.99% of the stock is owned by company insiders.

Alphabet Trading Up 1.5 %

Shares of GOOG stock opened at $163.24 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. The firm has a market cap of $2.02 trillion, a PE ratio of 25.04, a price-to-earnings-growth ratio of 1.13 and a beta of 1.04. The company has a 50-day moving average of $166.71 and a two-hundred day moving average of $166.58. Alphabet Inc. has a 1-year low of $121.46 and a 1-year high of $193.31.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.04. The company had revenue of $84.74 billion during the quarter, compared to analyst estimates of $84.22 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. Alphabet’s revenue was up 13.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.44 earnings per share. On average, analysts predict that Alphabet Inc. will post 7.63 EPS for the current year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.49%. The ex-dividend date was Monday, September 9th. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

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.