Gilliland Jeter Wealth Management LLC Has $3.66 Million Position in Alphabet Inc. (NASDAQ:GOOG)

Gilliland Jeter Wealth Management LLC decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,192 shares of the information services provider’s stock after selling 254 shares during the quarter. Alphabet makes up 1.2% of Gilliland Jeter Wealth Management LLC’s holdings, making the stock its 17th biggest position. Gilliland Jeter Wealth Management LLC’s holdings in Alphabet were worth $3,655,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. M&G PLC bought a new stake in shares of Alphabet during the 3rd quarter worth about $2,240,000. GPS Wealth Strategies Group LLC raised its holdings in Alphabet by 6.8% in the 4th quarter. GPS Wealth Strategies Group LLC now owns 16,248 shares of the information services provider’s stock valued at $3,094,000 after acquiring an additional 1,041 shares during the period. Coldstream Capital Management Inc. lifted its position in Alphabet by 14.4% during the third quarter. Coldstream Capital Management Inc. now owns 116,776 shares of the information services provider’s stock worth $19,642,000 after acquiring an additional 14,738 shares during the last quarter. Metis Global Partners LLC boosted its holdings in shares of Alphabet by 1.4% during the third quarter. Metis Global Partners LLC now owns 301,980 shares of the information services provider’s stock worth $50,488,000 after acquiring an additional 4,292 shares during the period. Finally, Requisite Capital Management LLC acquired a new position in shares of Alphabet in the fourth quarter valued at approximately $927,000. 27.26% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Wells Fargo & Company boosted their price target on Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Scotiabank boosted their target price on shares of Alphabet from $212.00 to $240.00 and gave the company a “sector outperform” rating in a research report on Friday, January 24th. Canaccord Genuity Group raised their price target on shares of Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Barclays boosted their price objective on shares of Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Finally, Citizens Jmp downgraded shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. Six research analysts have rated the stock with a hold rating, twelve have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $209.13.

Alphabet Stock Performance

Alphabet stock opened at $188.20 on Tuesday. The company has a quick ratio of 1.95, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The stock has a market cap of $2.30 trillion, a PE ratio of 23.38, a P/E/G ratio of 1.39 and a beta of 1.00. Alphabet Inc. has a 12-month low of $131.55 and a 12-month high of $208.70. The business’s 50-day moving average price is $193.12 and its two-hundred day moving average price is $176.14.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (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%. As a group, analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.43%. The ex-dividend date of this dividend is Monday, March 10th. Alphabet’s dividend payout ratio (DPR) is 9.94%.

Insider Buying and Selling

In other news, CAO Amie Thuener O’toole sold 1,340 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $202.08, for a total value of $270,787.20. Following the completion of the transaction, the chief accounting officer now owns 17,848 shares of the company’s stock, valued at $3,606,723.84. This represents a 6.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider John Kent Walker sold 16,820 shares of Alphabet stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the sale, the insider now owns 43,981 shares in the company, valued at approximately $8,471,620.22. This represents a 27.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 89,529 shares of company stock worth $16,600,078 in the last 90 days. Insiders own 12.99% of the company’s stock.

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.