TIAA Trust National Association lowered its holdings in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 1.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 329,714 shares of the information services provider's stock after selling 4,892 shares during the quarter. TIAA Trust National Association's holdings in Alphabet were worth $62,792,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. Sterling Financial Planning Inc. lifted its holdings in shares of Alphabet by 2.6% in the fourth quarter. Sterling Financial Planning Inc. now owns 1,941 shares of the information services provider's stock worth $370,000 after buying an additional 50 shares in the last quarter. Arlington Trust Co LLC increased its holdings in Alphabet by 0.4% in the 4th quarter. Arlington Trust Co LLC now owns 14,423 shares of the information services provider's stock valued at $2,747,000 after acquiring an additional 52 shares during the last quarter. Harrell Investment Partners LLC lifted its stake in Alphabet by 0.9% in the 4th quarter. Harrell Investment Partners LLC now owns 5,659 shares of the information services provider's stock worth $1,078,000 after purchasing an additional 53 shares in the last quarter. Ethos Financial Group LLC boosted its holdings in shares of Alphabet by 0.7% during the 4th quarter. Ethos Financial Group LLC now owns 7,300 shares of the information services provider's stock valued at $1,395,000 after purchasing an additional 53 shares during the last quarter. Finally, Redhawk Wealth Advisors Inc. grew its position in shares of Alphabet by 1.1% during the fourth quarter. Redhawk Wealth Advisors Inc. now owns 5,073 shares of the information services provider's stock valued at $966,000 after purchasing an additional 54 shares in the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.
Alphabet Stock Performance
Shares of NASDAQ GOOG traded up $2.86 during midday trading on Tuesday, reaching $172.79. The company had a trading volume of 13,811,344 shares, compared to its average volume of 17,855,898. The stock has a market cap of $2.11 trillion, a P/E ratio of 21.46, a P/E/G ratio of 1.34 and a beta of 1.03. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 1 year low of $148.20 and a 1 year high of $208.70. The business's 50-day simple moving average is $183.56 and its 200 day simple moving average is $178.44.
Alphabet (NASDAQ:GOOG - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, beating analysts' consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. On average, analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.
Alphabet Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were paid a $0.20 dividend. The ex-dividend date was Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.46%. Alphabet's payout ratio is 9.94%.
Analysts Set New Price Targets
A number of equities research analysts recently commented on GOOG shares. Morgan Stanley reiterated an "overweight" rating on shares of Alphabet in a research report on Wednesday, February 5th. Benchmark reaffirmed a "negative" rating on shares of Alphabet in a report on Wednesday, February 5th. Oppenheimer raised their target price on shares of Alphabet from $215.00 to $225.00 and gave the company an "outperform" rating in a report on Thursday, January 30th. Needham & Company LLC reaffirmed a "buy" rating on shares of Alphabet in a research note on Wednesday, February 5th. Finally, Rosenblatt Securities reissued a "neutral" rating on shares of Alphabet in a research note on Wednesday, March 19th. One analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, Alphabet has an average rating of "Moderate Buy" and a consensus price target of $209.13.
Get Our Latest Research Report on GOOG
Insider Buying and Selling
In other Alphabet news, CAO Amie Thuener O'toole sold 1,374 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $173.47, for a total transaction of $238,347.78. Following the transaction, the chief accounting officer now owns 15,024 shares in the company, valued at approximately $2,606,213.28. This represents a 8.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 200 shares of the business's stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $165.53, for a total value of $33,106.00. Following the completion of 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 disclosure for this sale can be found here. Insiders have sold a total of 93,048 shares of company stock valued at $17,374,274 over the last ninety days. Company insiders own 12.99% of the company's stock.
Alphabet Company Profile
(
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.
Further Reading
Before you consider Alphabet, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Alphabet wasn't on the list.
While Alphabet currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
