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

Gilliland Jeter Wealth Management LLC lowered its position in Alphabet Inc. (NASDAQ:GOOG) by 1.3% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 19,192 shares of the information services provider’s stock after selling 254 shares during the period. Alphabet accounts for approximately 1.2% of Gilliland Jeter Wealth Management LLC’s portfolio, making the stock its 17th largest position. Gilliland Jeter Wealth Management LLC’s holdings in Alphabet were worth $3,655,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Fiduciary Advisors Inc. acquired a new stake in Alphabet during the 4th quarter worth about $27,000. Weiss Asset Management LP bought a new stake in shares of Alphabet during the 3rd quarter valued at about $25,000. Safe Harbor Fiduciary LLC acquired a new stake in Alphabet during the third quarter worth approximately $33,000. Sanctuary Wealth Management L.L.C. increased its holdings in Alphabet by 87.3% in the third quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock worth $42,000 after purchasing an additional 117 shares in the last quarter. Finally, Iron Horse Wealth Management LLC lifted its stake in Alphabet by 32.3% in the third quarter. Iron Horse Wealth Management LLC now owns 344 shares of the information services provider’s stock valued at $57,000 after buying an additional 84 shares during the period. 27.26% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Wedbush reiterated an “outperform” rating and issued a $220.00 price objective on shares of Alphabet in a research note on Thursday, January 30th. UBS Group lifted their price target on shares of Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Pivotal Research increased their price objective on shares of Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Seaport Res Ptn raised Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Finally, Scotiabank increased their price target on Alphabet from $212.00 to $240.00 and gave the stock a “sector outperform” rating in a report on Friday, January 24th. Six investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $209.13.

Insider Buying and Selling at Alphabet

In other Alphabet news, insider John Kent Walker sold 16,820 shares of the business’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $192.62, for a total value of $3,239,868.40. Following the sale, the insider now directly owns 43,981 shares in the company, valued at $8,471,620.22. The trade was a 27.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 1,340 shares of the stock in a transaction 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 transaction, the chief accounting officer now owns 17,848 shares of the company’s stock, valued at $3,606,723.84. The trade was a 6.98 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 89,529 shares of company stock worth $16,600,078 over the last three months. 12.99% of the stock is currently owned by insiders.

Alphabet Stock Performance

Shares of GOOG stock opened at $188.20 on Tuesday. Alphabet Inc. has a one year low of $131.55 and a one year high of $208.70. The company has a market cap of $2.30 trillion, a P/E ratio of 23.38, a P/E/G ratio of 1.39 and a beta of 1.00. The firm has a 50-day moving average of $193.12 and a 200-day moving average of $176.14. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.95.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Equities research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.43%. The ex-dividend date of this dividend is Monday, March 10th. Alphabet’s dividend payout ratio is 9.94%.

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.