Garner Asset Management Corp Sells 674 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Garner Asset Management Corp cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 7.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,321 shares of the information services provider’s stock after selling 674 shares during the period. Garner Asset Management Corp’s holdings in Alphabet were worth $1,575,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Community Bank N.A. lifted its holdings in Alphabet by 6.4% during the 4th quarter. Community Bank N.A. now owns 46,173 shares of the information services provider’s stock worth $8,741,000 after buying an additional 2,790 shares in the last quarter. Premier Fund Managers Ltd raised its position in shares of Alphabet by 30.0% during the fourth quarter. Premier Fund Managers Ltd now owns 61,792 shares of the information services provider’s stock worth $11,816,000 after acquiring an additional 14,262 shares during the last quarter. Absolute Capital Management LLC lifted its stake in shares of Alphabet by 14.0% during the fourth quarter. Absolute Capital Management LLC now owns 2,096 shares of the information services provider’s stock valued at $401,000 after acquiring an additional 258 shares during the period. Permanent Capital Management LP bought a new position in Alphabet in the fourth quarter valued at about $273,000. Finally, Glass Wealth Management Co LLC increased its position in Alphabet by 4.5% in the fourth quarter. Glass Wealth Management Co LLC now owns 37,054 shares of the information services provider’s stock worth $7,014,000 after purchasing an additional 1,580 shares during the period. Institutional investors own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on GOOGL. Citizens Jmp downgraded shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. BMO Capital Markets reaffirmed an “outperform” rating and issued a $200.00 price objective (down from $230.00) on shares of Alphabet in a research note on Thursday. Roth Mkm reiterated a “buy” rating and set a $220.00 target price on shares of Alphabet in a research report on Wednesday, March 19th. UBS Group set a $190.00 price target on Alphabet in a research report on Thursday, March 27th. Finally, Wells Fargo & Company dropped their price objective on Alphabet from $184.00 to $167.00 and set an “equal weight” rating for the company in a report on Monday, March 31st. Ten analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and five have given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $200.74.

Alphabet Trading Down 1.5 %

Shares of Alphabet stock opened at $151.08 on Friday. The stock has a market cap of $1.84 trillion, a P/E ratio of 18.77, a P/E/G ratio of 1.34 and a beta of 1.03. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $207.05. The business’s 50 day moving average is $165.82 and its 200-day moving average is $175.88.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, beating analysts’ consensus estimates 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 predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date was Monday, March 10th. Alphabet’s payout ratio is currently 9.94%.

Insider Buying and Selling at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total value of $5,153,200.00. Following the transaction, the chief executive officer now directly owns 2,717,696 shares of the company’s stock, valued at $430,917,877.76. This represents a 1.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 1,340 shares of Alphabet stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $202.08, for a total transaction of $270,787.20. Following the sale, the chief accounting officer now directly owns 17,848 shares of the company’s stock, valued at $3,606,723.84. The trade was a 6.98 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 115,663 shares of company stock worth $20,286,447 over the last 90 days. Company 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.