Garrison Asset Management LLC Grows Position in Alphabet Inc. (NASDAQ:GOOG)

Garrison Asset Management LLC grew its holdings in Alphabet Inc. (NASDAQ:GOOG) by 5.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,042 shares of the information services provider’s stock after acquiring an additional 1,030 shares during the period. Alphabet comprises about 1.6% of Garrison Asset Management LLC’s investment portfolio, making the stock its 28th biggest position. Garrison Asset Management LLC’s holdings in Alphabet were worth $2,825,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in GOOG. FMR LLC grew its stake in shares of Alphabet by 3.8% during the third quarter. FMR LLC now owns 120,234,117 shares of the information services provider’s stock valued at $15,852,868,000 after buying an additional 4,348,188 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Alphabet by 11.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 95,941,129 shares of the information services provider’s stock worth $12,649,838,000 after purchasing an additional 9,703,425 shares during the period. Northern Trust Corp boosted its position in Alphabet by 2.3% during the 3rd quarter. Northern Trust Corp now owns 57,269,184 shares of the information services provider’s stock valued at $7,550,942,000 after acquiring an additional 1,275,060 shares in the last quarter. Sanders Capital LLC boosted its position in Alphabet by 0.3% during the 3rd quarter. Sanders Capital LLC now owns 27,744,572 shares of the information services provider’s stock valued at $3,658,122,000 after acquiring an additional 92,741 shares in the last quarter. Finally, Jennison Associates LLC boosted its position in Alphabet by 2.0% during the 3rd quarter. Jennison Associates LLC now owns 19,822,203 shares of the information services provider’s stock valued at $2,613,557,000 after acquiring an additional 390,118 shares in the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CFO Ruth Porat sold 48,077 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $137.22, for a total transaction of $6,597,125.94. Following the transaction, the chief financial officer now directly owns 1,777,106 shares in the company, valued at approximately $243,854,485.32. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CFO Ruth Porat sold 48,077 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $137.22, for a total transaction of $6,597,125.94. Following the transaction, the chief financial officer now directly owns 1,777,106 shares in the company, valued at approximately $243,854,485.32. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total value of $2,985,750.00. Following the transaction, the chief executive officer now owns 2,332,691 shares in the company, valued at $309,548,095.70. The disclosure for this sale can be found here. In the last three months, insiders sold 251,339 shares of company stock worth $36,377,482. Corporate insiders own 12.99% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on GOOG shares. Morgan Stanley reissued an “overweight” rating and issued a $165.00 price objective on shares of Alphabet in a research report on Thursday, April 11th. Stifel Nicolaus lifted their price objective on Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Susquehanna lifted their price objective on Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a research note on Wednesday, January 31st. Raymond James lifted their price target on Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a research note on Wednesday, January 24th. Finally, Oppenheimer lifted their price target on Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research note on Monday, April 8th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $159.86.

Alphabet Price Performance

NASDAQ:GOOG opened at $159.92 on Wednesday. Alphabet Inc. has a 12 month low of $103.27 and a 12 month high of $161.70. The stock has a 50 day moving average of $147.92 and a two-hundred day moving average of $142.27. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05. The firm has a market cap of $1.99 trillion, a P/E ratio of 27.57, a price-to-earnings-growth ratio of 1.46 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, topping the consensus estimate of $1.60 by $0.04. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The company had revenue of $86.31 billion during the quarter, compared to analyst estimates of $85.28 billion. During the same period in the previous year, the business earned $1.05 EPS. Alphabet’s quarterly revenue was up 13.5% on a year-over-year basis. On average, analysts expect that Alphabet Inc. will post 6.78 earnings per share for the current fiscal year.

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.