Garrison Asset Management LLC Has $705,000 Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Garrison Asset Management LLC trimmed its position in Alphabet Inc. (NASDAQ:GOOGL) by 2.9% in the second quarter, Holdings Channel.com reports. The firm owned 3,870 shares of the information services provider’s stock after selling 115 shares during the period. Garrison Asset Management LLC’s holdings in Alphabet were worth $705,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GOOGL. Christopher J. Hasenberg Inc lifted its stake in shares of Alphabet by 75.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 60 shares during the period. Vermillion & White Wealth Management Group LLC acquired a new stake in shares of Alphabet during the fourth quarter worth $30,000. Tributary Capital Management LLC bought a new stake in Alphabet in the first quarter valued at about $30,000. Kings Path Partners LLC acquired a new position in Alphabet in the second quarter valued at about $36,000. Finally, Denver PWM LLC bought a new position in Alphabet during the second quarter worth about $41,000. 40.03% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on GOOGL. Roth Mkm reaffirmed a “buy” rating and issued a $206.00 price target on shares of Alphabet in a research note on Thursday, August 29th. Wedbush reaffirmed an “outperform” rating and issued a $205.00 target price on shares of Alphabet in a research note on Thursday, September 5th. Loop Capital reissued a “hold” rating and set a $170.00 price target on shares of Alphabet in a research report on Wednesday, July 3rd. DA Davidson initiated coverage on shares of Alphabet in a report on Tuesday, September 10th. They issued a “neutral” rating and a $170.00 price target for the company. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $190.00 price objective on shares of Alphabet in a research note on Monday, September 23rd. Eight equities research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and an average target price of $201.35.

Alphabet Stock Up 0.7 %

NASDAQ:GOOGL opened at $163.95 on Friday. Alphabet Inc. has a twelve month low of $120.21 and a twelve month high of $191.75. The firm has a market capitalization of $2.03 trillion, a price-to-earnings ratio of 25.15, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. The stock’s 50 day moving average price is $162.83 and its two-hundred day moving average price is $166.49.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. The business had revenue of $84.74 billion for the quarter, compared to the consensus estimate of $70.60 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same period in the previous year, the company earned $1.44 earnings per share. Equities research analysts expect that Alphabet Inc. will post 7.63 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were issued a $0.20 dividend. The ex-dividend date of this dividend was Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.49%. Alphabet’s payout ratio is 12.27%.

Insider Activity at Alphabet

In other Alphabet news, SVP Prabhakar Raghavan sold 3,262 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $183.99, for a total value of $600,175.38. Following the sale, the senior vice president now owns 9 shares in the company, valued at $1,655.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, SVP Prabhakar Raghavan sold 3,262 shares of Alphabet stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $183.99, for a total transaction of $600,175.38. Following the completion of the transaction, the senior vice president now directly owns 9 shares in the company, valued at approximately $1,655.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total value of $125,126.54. Following the completion of the sale, the chief accounting officer now owns 30,650 shares in the company, valued at approximately $5,623,355.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 180,867 shares of company stock worth $29,878,106. Insiders own 11.55% of the company’s stock.

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.