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TCTC Holdings LLC lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 1.4% in the 1st quarter, Holdings Channel reports. The institutional investor owned 63,927 shares of the information services provider’s stock after acquiring an additional 856 shares during the period. TCTC Holdings LLC’s holdings in Alphabet were worth $9,886,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of the business. Kirtland Hills Capital Management LLC grew its position in shares of Alphabet by 29.2% during the 1st quarter. Kirtland Hills Capital Management LLC now owns 23,817 shares of the information services provider’s stock worth $3,600,000 after buying an additional 5,386 shares during the period. Meeder Advisory Services Inc. grew its holdings in Alphabet by 4.4% during the first quarter. Meeder Advisory Services Inc. now owns 112,999 shares of the information services provider’s stock valued at $17,474,000 after purchasing an additional 4,732 shares during the period. Lutz Financial Services LLC grew its holdings in Alphabet by 6.0% during the first quarter. Lutz Financial Services LLC now owns 2,563 shares of the information services provider’s stock valued at $396,000 after purchasing an additional 146 shares during the period. Hurley Capital LLC grew its holdings in Alphabet by 2.0% during the first quarter. Hurley Capital LLC now owns 16,910 shares of the information services provider’s stock valued at $2,615,000 after purchasing an additional 324 shares during the period. Finally, Marco Investment Management LLC grew its holdings in Alphabet by 6.4% during the first quarter. Marco Investment Management LLC now owns 92,796 shares of the information services provider’s stock valued at $14,350,000 after purchasing an additional 5,617 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.
Alphabet Price Performance
NASDAQ:GOOGL opened at $194.67 on Wednesday. Alphabet Inc. has a one year low of $140.53 and a one year high of $207.05. The company has a market cap of $2.35 trillion, a P/E ratio of 20.73, a P/E/G ratio of 1.32 and a beta of 1.01. The firm’s fifty day moving average price is $179.29 and its two-hundred day moving average price is $172.97. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90.
Alphabet (NASDAQ:GOOGL – Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating the consensus estimate of $2.15 by $0.16. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The firm had revenue of $96,428,000 billion for the quarter, compared to the consensus estimate of $93.60 billion. Equities analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current year.
Alphabet Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be paid a $0.21 dividend. The ex-dividend date is Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.4%. Alphabet’s dividend payout ratio is 8.95%.
Insider Activity at Alphabet
In related news, Director John L. Hennessy sold 600 shares of the company’s stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $105,000.00. Following the transaction, the director directly owned 6,813 shares in the company, valued at approximately $1,192,275. This represents a 8.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Kavitark Ram Shriram sold 18,566 shares of the company’s stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the completion of the transaction, the director owned 243,400 shares in the company, valued at $45,213,984. This trade represents a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 216,899 shares of company stock worth $38,459,044. Corporate insiders own 11.55% of the company’s stock.
Analysts Set New Price Targets
A number of brokerages recently issued reports on GOOGL. Wells Fargo & Company boosted their price objective on shares of Alphabet from $184.00 to $187.00 and gave the company an “equal weight” rating in a report on Tuesday, July 29th. DA Davidson boosted their price objective on shares of Alphabet from $160.00 to $180.00 and gave the company a “neutral” rating in a report on Thursday, July 24th. Citizens Jmp upgraded shares of Alphabet from a “market perform” rating to an “outperform” rating and set a $220.00 price objective for the company in a report on Friday, June 27th. JMP Securities boosted their price objective on shares of Alphabet from $220.00 to $225.00 and gave the company a “market outperform” rating in a report on Thursday, July 24th. Finally, Needham & Company LLC upped their price target on shares of Alphabet from $210.00 to $220.00 and gave the company a “buy” rating in a report on Thursday, July 24th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and an average target price of $211.53.
Check Out Our Latest Report on GOOGL
Alphabet 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.
Further Reading
Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGL – Free Report).
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