Alphabet Inc. $GOOGL Shares Sold by Carlton Hofferkamp & Jenks Wealth Management LLC

Key Points

• Carlton Hofferkamp & Jenks Wealth Management LLC reduced its Alphabet stake by 10.1% in the first quarter, selling 2,277 shares and leaving it with 20,255 shares worth about $5.8 million.
• Alphabet reported stronger-than-expected quarterly results, posting EPS of $5.11 versus the $2.64 estimate and revenue of $109.9 billion, while also raising its quarterly dividend to $0.22 per share.
• Wall Street remains broadly positive on the stock, with analysts maintaining mostly Buy ratings and a consensus price target of about $413.73, even as insiders have recently sold shares.

Carlton Hofferkamp & Jenks Wealth Management LLC lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 10.1% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 20,255 shares of the information services provider's stock after selling 2,277 shares during the period. Alphabet makes up approximately 1.7% of Carlton Hofferkamp & Jenks Wealth Management LLC's investment portfolio, making the stock its 11th largest position. Carlton Hofferkamp & Jenks Wealth Management LLC's holdings in Alphabet were worth $5,825,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in GOOGL. Symmetry Partners LLC grew its stake in shares of Alphabet by 0.4% in the fourth quarter. Symmetry Partners LLC now owns 7,912 shares of the information services provider's stock valued at $2,476,000 after buying an additional 30 shares in the last quarter. Private Wealth Management Group LLC raised its holdings in shares of Alphabet by 1.2% in the 1st quarter. Private Wealth Management Group LLC now owns 2,540 shares of the information services provider's stock valued at $730,000 after buying an additional 30 shares during the period. Members Trust Co lifted its stake in Alphabet by 0.5% during the 4th quarter. Members Trust Co now owns 6,434 shares of the information services provider's stock worth $2,014,000 after acquiring an additional 31 shares in the last quarter. Altfest L J & Co. Inc. lifted its stake in Alphabet by 0.4% during the 4th quarter. Altfest L J & Co. Inc. now owns 7,952 shares of the information services provider's stock worth $2,489,000 after acquiring an additional 31 shares in the last quarter. Finally, Insight 2811 Inc. boosted its holdings in Alphabet by 1.0% during the 4th quarter. Insight 2811 Inc. now owns 3,124 shares of the information services provider's stock valued at $978,000 after acquiring an additional 32 shares during the period. Institutional investors and hedge funds own 40.03% of the company's stock.

Alphabet Stock Down 1.3%

Shares of Alphabet stock opened at $352.51 on Tuesday. Alphabet Inc. has a 52-week low of $179.68 and a 52-week high of $408.61. The company has a 50 day moving average of $371.97 and a 200 day moving average of $336.90. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $4.27 trillion, a P/E ratio of 26.89, a P/E/G ratio of 1.53 and a beta of 1.24.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The information services provider reported $5.11 EPS for the quarter, beating analysts' consensus estimates of $2.64 by $2.47. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. The company had revenue of $109.90 billion for the quarter, compared to the consensus estimate of $106.98 billion. As a group, research analysts forecast that Alphabet Inc. will post 14.32 EPS for the current fiscal year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 8th were paid a dividend of $0.22 per share. The ex-dividend date was Monday, June 8th. This is an increase from Alphabet's previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.2%. Alphabet's payout ratio is presently 6.71%.

Insider Activity

In related news, Director Frances Arnold sold 112 shares of the stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $351.28, for a total value of $39,343.36. Following the transaction, the director owned 18,833 shares of the company's stock, valued at $6,615,656.24. This represents a 0.59% 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 8,998 shares of the firm's stock in a transaction on Monday, June 29th. The shares were sold at an average price of $349.29, for a total value of $3,142,911.42. Following the completion of the sale, the insider owned 75,290 shares in the company, valued at approximately $26,298,044.10. This represents a 10.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 160,465 shares of company stock valued at $8,020,511. Insiders own 11.61% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Needham & Company LLC reiterated a "buy" rating and set a $450.00 price target on shares of Alphabet in a research note on Wednesday, June 3rd. Bank of America raised their price objective on shares of Alphabet from $370.00 to $430.00 and gave the company a "buy" rating in a research note on Thursday, April 30th. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of Alphabet in a report on Tuesday, April 28th. Rothschild & Co Redburn increased their target price on shares of Alphabet from $390.00 to $430.00 and gave the stock a "buy" rating in a report on Thursday, April 30th. Finally, Phillip Securities raised their price target on shares of Alphabet from $340.00 to $395.00 and gave the company a "moderate buy" rating in a research report on Wednesday, April 15th. Two research analysts have rated the stock with a Strong Buy rating, forty-seven have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $413.73.

Key Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Bank of America said Google held steady in June while Claude and Gemini posted strong user growth, and it reiterated a Buy rating, citing Alphabet executives’ comments that Search is in an “expansionary moment” that could support results into 2026. Google holds steady as Claude, Gemini surge in June user growth
• Positive Sentiment: Zacks upgraded Alphabet (GOOG) to Rank #1 (Strong Buy), reflecting improved earnings optimism and potentially supporting near-term sentiment. Alphabet (GOOG) Upgraded to Strong Buy: Here's What You Should Know
• Positive Sentiment: Several recent pieces highlighted Alphabet’s AI and custom-chip strengths, including the company’s TPU strategy and potential cost advantages from in-house processors, which could improve margins over time. Google's In-House AI Chip Strategy Could Be a Bigger Threat to Nvidia Than Investors Think. Here's Why.
• Neutral Sentiment: Alphabet remains one of the market’s most closely watched AI and mega-cap tech names, with multiple articles noting strong investor attention and ongoing debate about its long-term growth profile. Alphabet Inc. (GOOG) Is a Trending Stock: Facts to Know Before Betting on It
• Negative Sentiment: Investors are still focused on Alphabet’s rising capital expenditures, which were raised to $180 billion-$190 billion this year, with analysts also expecting second-quarter capex near $44.9 billion; that spending pressure can weigh on margins and sentiment. Alphabet's $1 Trillion Ad Dominance Is Facing New Threats
• Negative Sentiment: Alphabet’s core advertising dominance is also facing more scrutiny from competitive and structural threats, which may be contributing to the stock’s softer tone despite upbeat AI commentary. Alphabet Vs. Broadcom: Rotate Out of AVGO and into GOOG as a Custom Chip Creator and Hyperscaler Partner

Alphabet Company Profile

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google's core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google's consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.