Garner Asset Management Corp Raises Holdings in Alphabet Inc (GOOG)

Garner Asset Management Corp grew its holdings in shares of Alphabet Inc (NASDAQ:GOOG) by 21.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,203 shares of the information services provider’s stock after purchasing an additional 210 shares during the quarter. Alphabet comprises approximately 1.1% of Garner Asset Management Corp’s portfolio, making the stock its 26th biggest holding. Garner Asset Management Corp’s holdings in Alphabet were worth $1,246,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of GOOG. Vanguard Group Inc. lifted its holdings in shares of Alphabet by 97.8% in the third quarter. Vanguard Group Inc. now owns 43,027,936 shares of the information services provider’s stock worth $51,643,016,000 after buying an additional 21,273,995 shares in the last quarter. Trust Asset Management LLC lifted its holdings in shares of Alphabet by 86,154.5% in the third quarter. Trust Asset Management LLC now owns 20,789,054 shares of the information services provider’s stock worth $20,790,000 after buying an additional 20,764,952 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Alphabet by 1.3% in the third quarter. BlackRock Inc. now owns 19,492,447 shares of the information services provider’s stock worth $23,263,651,000 after buying an additional 246,674 shares in the last quarter. FMR LLC lifted its holdings in shares of Alphabet by 1.8% in the third quarter. FMR LLC now owns 11,512,271 shares of the information services provider’s stock worth $13,739,550,000 after buying an additional 202,765 shares in the last quarter. Finally, Capital International Investors lifted its holdings in shares of Alphabet by 587.2% in the third quarter. Capital International Investors now owns 3,885,216 shares of the information services provider’s stock worth $4,636,889,000 after buying an additional 3,319,821 shares in the last quarter. Hedge funds and other institutional investors own 34.44% of the company’s stock.

In other Alphabet news, VP Amie Thuener O’toole sold 89 shares of the stock in a transaction that occurred on Monday, February 4th. The shares were sold at an average price of $1,112.66, for a total transaction of $99,026.74. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 10,000 shares of the stock in a transaction that occurred on Wednesday, January 16th. The shares were sold at an average price of $1,086.33, for a total transaction of $10,863,300.00. Following the transaction, the chief executive officer now owns 491 shares in the company, valued at $533,388.03. The disclosure for this sale can be found here. Insiders sold 10,797 shares of company stock worth $11,795,783 over the last ninety days. 13.11% of the stock is currently owned by insiders.

Shares of GOOG opened at $1,221.10 on Tuesday. The company has a market capitalization of $837.43 billion, a P/E ratio of 25.70, a P/E/G ratio of 1.42 and a beta of 1.05. The company has a current ratio of 3.92, a quick ratio of 3.89 and a debt-to-equity ratio of 0.02. Alphabet Inc has a 1-year low of $970.11 and a 1-year high of $1,273.89.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Monday, February 4th. The information services provider reported $12.77 earnings per share for the quarter, beating analysts’ consensus estimates of $10.86 by $1.91. The business had revenue of $39.28 billion for the quarter, compared to the consensus estimate of $38.91 billion. Alphabet had a net margin of 22.47% and a return on equity of 19.94%. Alphabet’s quarterly revenue was up 21.5% on a year-over-year basis. During the same period last year, the firm posted $9.70 earnings per share. On average, analysts anticipate that Alphabet Inc will post 47.35 EPS for the current fiscal year.

GOOG has been the topic of a number of recent analyst reports. Royal Bank of Canada reissued a “buy” rating on shares of Alphabet in a report on Friday, December 21st. UBS Group reissued a “buy” rating on shares of Alphabet in a report on Monday, January 14th. Nomura reissued a “buy” rating on shares of Alphabet in a report on Monday, January 7th. Deutsche Bank lowered their price target on shares of Alphabet from $1,350.00 to $1,300.00 and set a “buy” rating on the stock in a report on Wednesday, January 23rd. Finally, Canaccord Genuity raised shares of Alphabet from a “hold” rating to a “buy” rating in a report on Thursday, January 3rd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and twenty-nine have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $1,349.78.

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Alphabet Profile

Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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