Garrison Asset Management LLC Buys 107 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Garrison Asset Management LLC boosted its stake in Alphabet Inc. (NASDAQ:GOOGL) by 2.8% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 3,977 shares of the information services provider’s stock after purchasing an additional 107 shares during the period. Garrison Asset Management LLC’s holdings in Alphabet were worth $660,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Christopher J. Hasenberg Inc raised its position in Alphabet by 75.0% in the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after acquiring an additional 60 shares during the period. Kings Path Partners LLC bought a new stake in shares of Alphabet in the second quarter valued at approximately $36,000. Denver PWM LLC bought a new stake in shares of Alphabet in the second quarter valued at approximately $41,000. Quarry LP bought a new stake in shares of Alphabet in the second quarter valued at approximately $53,000. Finally, Summit Securities Group LLC bought a new stake in shares of Alphabet in the second quarter valued at approximately $55,000. Institutional investors own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on GOOGL shares. Morgan Stanley boosted their price target on shares of Alphabet from $190.00 to $205.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Phillip Securities raised shares of Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. Cantor Fitzgerald reissued a “neutral” rating and issued a $190.00 price target on shares of Alphabet in a research report on Wednesday, October 30th. Bank of America boosted their price target on shares of Alphabet from $206.00 to $210.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, Wedbush reissued an “outperform” rating and issued a $205.00 price target on shares of Alphabet in a research report on Thursday, October 24th. Seven equities research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $205.90.

Alphabet Trading Down 1.8 %

NASDAQ:GOOGL opened at $172.49 on Monday. The company has a fifty day moving average of $165.61 and a 200 day moving average of $170.22. Alphabet Inc. has a 52 week low of $127.90 and a 52 week high of $191.75. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $2.11 trillion, a P/E ratio of 22.88, a P/E/G ratio of 1.23 and a beta of 1.03.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The company had revenue of $88.27 billion during the quarter, compared to analyst estimates of $72.85 billion. During the same period in the prior year, the business posted $1.55 EPS. On average, research analysts predict that Alphabet Inc. will post 7.99 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.46%. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

Insiders Place Their Bets

In other news, Director John L. Hennessy sold 800 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $153.75, for a total value of $123,000.00. Following the sale, the director now directly owns 28,524 shares of the company’s stock, valued at $4,385,565. This represents a 2.73 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total transaction of $109,420.08. Following the completion of the sale, the chief accounting officer now directly owns 32,017 shares in the company, valued at $5,136,807.48. This represents a 2.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 206,795 shares of company stock worth $34,471,141. 11.55% of the stock is currently owned by corporate insiders.

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.