Teacher Retirement System of Texas raised its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 25.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,773,748 shares of the information services provider's stock after acquiring an additional 755,695 shares during the period. Alphabet makes up approximately 2.6% of Teacher Retirement System of Texas' investment portfolio, making the stock its 6th largest position. Teacher Retirement System of Texas' holdings in Alphabet were worth $714,370,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in the stock. Schear Investment Advisers LLC boosted its position in shares of Alphabet by 17.0% during the 3rd quarter. Schear Investment Advisers LLC now owns 33,751 shares of the information services provider's stock valued at $5,598,000 after acquiring an additional 4,905 shares during the last quarter. Permanent Capital Management LP acquired a new stake in Alphabet during the fourth quarter worth $273,000. Landscape Capital Management L.L.C. lifted its stake in shares of Alphabet by 27.9% in the 3rd quarter. Landscape Capital Management L.L.C. now owns 25,275 shares of the information services provider's stock valued at $4,192,000 after purchasing an additional 5,516 shares during the last quarter. Glass Wealth Management Co LLC lifted its position in Alphabet by 4.5% in the fourth quarter. Glass Wealth Management Co LLC now owns 37,054 shares of the information services provider's stock valued at $7,014,000 after buying an additional 1,580 shares during the last quarter. Finally, Olistico Wealth LLC lifted its holdings in shares of Alphabet by 9.1% in the 4th quarter. Olistico Wealth LLC now owns 8,981 shares of the information services provider's stock worth $1,700,000 after acquiring an additional 746 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of equities analysts recently commented on the company. KeyCorp lowered their target price on Alphabet from $220.00 to $202.00 and set an "overweight" rating for the company in a report on Tuesday, March 18th. Bank of America reissued a "buy" rating and set a $210.00 target price on shares of Alphabet in a research note on Monday, December 23rd. Cantor Fitzgerald reiterated a "neutral" rating and issued a $200.00 price target on shares of Alphabet in a research note on Wednesday, March 19th. JPMorgan Chase & Co. dropped their price objective on shares of Alphabet from $232.00 to $220.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 5th. Finally, DA Davidson raised their price target on Alphabet from $190.00 to $200.00 and gave the company a "neutral" rating in a research note on Friday, January 24th. Ten research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $209.49.
View Our Latest Research Report on Alphabet
Insiders Place Their Bets
In related news, Director John L. Hennessy sold 200 shares of the stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $165.53, for a total transaction of $33,106.00. Following the sale, the director now owns 7,813 shares of the company's stock, valued at $1,293,285.89. This trade represents a 2.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John Kent Walker sold 11,764 shares of the business's stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $166.84, for a total transaction of $1,962,705.76. Following the completion of the transaction, the insider now directly owns 49,037 shares of the company's stock, valued at $8,181,333.08. The trade was a 19.35 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 87,992 shares of company stock worth $16,093,773. Insiders own 11.55% of the company's stock.
Alphabet Price Performance
Shares of NASDAQ GOOGL traded up $2.43 during trading on Tuesday, hitting $157.07. 30,630,658 shares of the company were exchanged, compared to its average volume of 27,398,097. The company has a market cap of $1.91 trillion, a price-to-earnings ratio of 19.51, a PEG ratio of 1.34 and a beta of 1.02. Alphabet Inc. has a 1 year low of $147.22 and a 1 year high of $207.05. The firm's fifty day moving average price is $178.83 and its 200 day moving average price is $177.10. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84.
Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, beating 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%. On average, sell-side analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.
Alphabet Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were paid a $0.20 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a yield of 0.51%. Alphabet's payout ratio is 9.94%.
Alphabet Company Profile
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Free Report)
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.
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