Garrison Asset Management LLC Has $3.69 Million Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Garrison Asset Management LLC raised its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 20,133 shares of the information services provider’s stock after purchasing an additional 220 shares during the period. Alphabet accounts for approximately 1.9% of Garrison Asset Management LLC’s holdings, making the stock its 14th biggest holding. Garrison Asset Management LLC’s holdings in Alphabet were worth $3,693,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. 1620 Investment Advisors Inc. acquired a new position in Alphabet during the 2nd quarter valued at about $37,000. Richardson Financial Services Inc. acquired a new position in Alphabet during the 4th quarter valued at about $34,000. Slocum Gordon & Co LLP bought a new stake in shares of Alphabet in the 2nd quarter valued at about $44,000. Hoese & Co LLP increased its stake in shares of Alphabet by 62.5% in the 2nd quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock valued at $45,000 after acquiring an additional 100 shares during the last quarter. Finally, Iron Horse Wealth Management LLC bought a new stake in shares of Alphabet in the 2nd quarter valued at about $48,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GOOG has been the subject of a number of recent analyst reports. Wolfe Research raised Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. Cantor Fitzgerald raised Alphabet to a “hold” rating in a research note on Thursday, September 5th. DA Davidson raised Alphabet to a “hold” rating in a research note on Tuesday, September 10th. Oppenheimer upped their price target on Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Finally, Rosenblatt Securities cut Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target for the company. in a research note on Friday, June 28th. Three analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $182.86.

Alphabet Price Performance

NASDAQ GOOG opened at $158.37 on Monday. The business has a 50 day simple moving average of $169.06 and a 200 day simple moving average of $166.35. Alphabet Inc. has a 52-week low of $121.46 and a 52-week high of $193.31. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. The stock has a market cap of $1.95 trillion, a price-to-earnings ratio of 24.29, a PEG ratio of 1.13 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last released its quarterly 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. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The firm had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $84.22 billion. During the same quarter in the prior year, the firm posted $1.44 EPS. The business’s revenue was up 13.6% on a year-over-year basis. Analysts anticipate that Alphabet Inc. will post 7.63 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, September 16th. Shareholders of record on Monday, September 9th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date is Monday, September 9th. Alphabet’s dividend payout ratio (DPR) is currently 12.27%.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 2,835 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total transaction of $429,587.55. Following the completion of the transaction, the chief accounting officer now owns 29,182 shares of the company’s stock, valued at approximately $4,421,948.46. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Alphabet news, CAO Amie Thuener O’toole sold 2,835 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total transaction of $429,587.55. Following the completion of the transaction, the chief accounting officer now owns 29,182 shares of the company’s stock, valued at approximately $4,421,948.46. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Prabhakar Raghavan sold 3,262 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $183.99, for a total value of $600,175.38. Following the completion of the sale, the senior vice president now directly owns 9 shares of the company’s stock, valued at approximately $1,655.91. The disclosure for this sale can be found here. Insiders sold a total of 201,867 shares of company stock valued at $34,218,581 in the last quarter. 12.99% of the stock is currently owned by 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.