Carlton Hofferkamp & Jenks Wealth Management LLC Reduces Position in Alphabet Inc. (GOOG)

Carlton Hofferkamp & Jenks Wealth Management LLC cut its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 991 shares of the information services provider’s stock after selling 5 shares during the period. Carlton Hofferkamp & Jenks Wealth Management LLC’s holdings in Alphabet were worth $822,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of GOOG. Brightworth raised its position in Alphabet by 4.3% in the first quarter. Brightworth now owns 289 shares of the information services provider’s stock valued at $240,000 after buying an additional 12 shares in the last quarter. Waldron LP raised its position in Alphabet by 84.3% in the first quarter. Waldron LP now owns 2,031 shares of the information services provider’s stock valued at $1,679,000 after buying an additional 929 shares in the last quarter. Pinnacle Advisory Group Inc. raised its position in Alphabet by 5.1% in the first quarter. Pinnacle Advisory Group Inc. now owns 2,304 shares of the information services provider’s stock valued at $1,911,000 after buying an additional 111 shares in the last quarter. Mn Services Vermogensbeheer B.V. raised its position in Alphabet by 3.2% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 8,297 shares of the information services provider’s stock valued at $6,435,000 after buying an additional 257 shares in the last quarter. Finally, Van Cleef Asset Management Inc raised its position in Alphabet by 0.7% in the first quarter. Van Cleef Asset Management Inc now owns 5,853 shares of the information services provider’s stock valued at $4,855,000 after buying an additional 42 shares in the last quarter. Institutional investors and hedge funds own 35.04% of the company’s stock.

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

Shares of Alphabet Inc. (NASDAQ GOOG) opened at 957.09 on Friday. The stock has a 50 day moving average price of $948.74 and a 200 day moving average price of $852.55. The stock has a market capitalization of $662.07 billion, a P/E ratio of 32.34 and a beta of 0.94. Alphabet Inc. has a 12 month low of $663.28 and a 12 month high of $988.25.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Thursday, April 27th. The information services provider reported $7.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.38 by $0.35. Alphabet had a return on equity of 15.16% and a net margin of 21.84%. The company had revenue of $24.75 billion for the quarter, compared to analysts’ expectations of $24.18 billion. During the same period last year, the firm earned $7.50 EPS. The firm’s revenue for the quarter was up 22.2% on a year-over-year basis. On average, analysts anticipate that Alphabet Inc. will post $33.91 EPS for the current fiscal year.

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Several research firms have recently commented on GOOG. Vetr upgraded Alphabet from a “hold” rating to a “buy” rating and set a $980.86 price target on the stock in a report on Monday. Canaccord Genuity downgraded Alphabet from a “buy” rating to a “hold” rating and set a $1,000.00 price objective for the company. in a research report on Thursday, June 15th. They noted that the move was a valuation call. Deutsche Bank AG reissued a “buy” rating on shares of Alphabet in a research report on Monday, June 12th. Moffett Nathanson reissued a “buy” rating on shares of Alphabet in a research report on Friday, June 9th. Finally, Instinet reissued a “buy” rating on shares of Alphabet in a research report on Friday, June 2nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and forty have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $988.04.

In related news, CEO Sundar Pichai sold 4,000 shares of Alphabet stock in a transaction on Wednesday, April 5th. The stock was sold at an average price of $837.31, for a total value of $3,349,240.00. Following the transaction, the chief executive officer now directly owns 2,351 shares in the company, valued at approximately $1,968,515.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP David C. Drummond sold 2,000 shares of Alphabet stock in a transaction on Wednesday, April 12th. The stock was sold at an average price of $830.20, for a total value of $1,660,400.00. Following the completion of the transaction, the senior vice president now owns 4,800 shares in the company, valued at $3,984,960. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 46,085 shares of company stock worth $42,307,001. 13.92% of the stock is owned by insiders.

About Alphabet

Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.

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