Garrett Wealth Advisory Group LLC Decreases Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Garrett Wealth Advisory Group LLC cut its position in Alphabet Inc. (NASDAQ:GOOG) by 1.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,474 shares of the information services provider’s stock after selling 184 shares during the quarter. Alphabet accounts for 0.8% of Garrett Wealth Advisory Group LLC’s portfolio, making the stock its 18th largest position. Garrett Wealth Advisory Group LLC’s holdings in Alphabet were worth $3,328,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Swedbank AB boosted its stake in Alphabet by 0.6% during the 3rd quarter. Swedbank AB now owns 8,338,900 shares of the information services provider’s stock valued at $1,394,181,000 after acquiring an additional 51,226 shares during the last quarter. United Advisor Group LLC raised its holdings in shares of Alphabet by 50.5% during the third quarter. United Advisor Group LLC now owns 4,908 shares of the information services provider’s stock worth $821,000 after purchasing an additional 1,646 shares during the period. Sentry Investment Management LLC raised its holdings in shares of Alphabet by 7.4% during the third quarter. Sentry Investment Management LLC now owns 26,145 shares of the information services provider’s stock worth $4,371,000 after purchasing an additional 1,812 shares during the period. Amalgamated Bank raised its holdings in shares of Alphabet by 0.4% during the third quarter. Amalgamated Bank now owns 1,055,056 shares of the information services provider’s stock worth $176,395,000 after purchasing an additional 3,758 shares during the period. Finally, Arista Wealth Management LLC raised its holdings in shares of Alphabet by 39.7% during the third quarter. Arista Wealth Management LLC now owns 1,622 shares of the information services provider’s stock worth $271,000 after purchasing an additional 461 shares during the period. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Stock Up 1.4 %

GOOG stock opened at $174.99 on Thursday. Alphabet Inc. has a 12 month low of $131.95 and a 12 month high of $208.70. The firm has a market cap of $2.13 trillion, a PE ratio of 21.74, a P/E/G ratio of 1.34 and a beta of 1.00. The firm has a 50 day simple moving average of $190.68 and a 200 day simple moving average of $177.91. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84.

Alphabet (NASDAQ:GOOG) last released its earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, beating the consensus estimate of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. Equities research analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be given a $0.20 dividend. The ex-dividend date is Monday, March 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.46%. Alphabet’s dividend payout ratio (DPR) is presently 9.94%.

Wall Street Analyst Weigh In

Several research analysts have commented on GOOG shares. Wedbush restated an “outperform” rating and issued a $220.00 target price on shares of Alphabet in a research report on Thursday, January 30th. Morgan Stanley restated an “overweight” rating on shares of Alphabet in a research report on Wednesday, February 5th. Oppenheimer upped their target price on shares of Alphabet from $215.00 to $225.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Citizens Jmp cut shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. Finally, Benchmark restated a “negative” rating on shares of Alphabet in a research report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $209.13.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 2,834 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $197.55, for a total value of $559,856.70. Following the completion of the sale, the chief accounting officer now owns 20,681 shares in the company, valued at approximately $4,085,531.55. This represents a 12.05 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kavitark Ram Shriram sold 37,134 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $185.02, for a total transaction of $6,870,532.68. Following the completion of the sale, the director now owns 282,832 shares of the company’s stock, valued at approximately $52,329,576.64. This trade represents a 11.61 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 134,316 shares of company stock worth $25,062,887. 12.99% of the stock is owned by corporate insiders.

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.