TFR Capital LLC. Has $5.43 Million Stake in Alphabet Inc. $GOOG

TFR Capital LLC. lowered its position in Alphabet Inc. (NASDAQ:GOOG) by 1.4% during the second quarter, Holdings Channel reports. The firm owned 30,595 shares of the information services provider’s stock after selling 441 shares during the period. Alphabet comprises 2.0% of TFR Capital LLC.’s portfolio, making the stock its 13th largest holding. TFR Capital LLC.’s holdings in Alphabet were worth $5,427,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. RDA Financial Network lifted its position in shares of Alphabet by 5.3% during the 2nd quarter. RDA Financial Network now owns 11,094 shares of the information services provider’s stock valued at $1,968,000 after acquiring an additional 554 shares during the period. Tower View Wealth Management LLC lifted its position in shares of Alphabet by 6.9% during the 2nd quarter. Tower View Wealth Management LLC now owns 27,644 shares of the information services provider’s stock valued at $4,904,000 after acquiring an additional 1,776 shares during the period. Oldfather Financial Services LLC acquired a new position in shares of Alphabet during the 2nd quarter valued at $213,000. Truist Financial Corp lifted its position in shares of Alphabet by 0.4% during the 2nd quarter. Truist Financial Corp now owns 3,626,927 shares of the information services provider’s stock valued at $643,381,000 after acquiring an additional 15,065 shares during the period. Finally, GC Wealth Management RIA LLC lifted its position in shares of Alphabet by 115.7% during the 2nd quarter. GC Wealth Management RIA LLC now owns 214,392 shares of the information services provider’s stock valued at $38,031,000 after acquiring an additional 115,003 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on GOOG. Lake Street Capital reiterated a “buy” rating on shares of Alphabet in a research report on Wednesday, July 9th. Phillip Securities downgraded shares of Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research report on Monday, September 8th. Barclays reiterated a “buy” rating on shares of Alphabet in a research report on Wednesday, July 9th. Roth Capital restated a “buy” rating on shares of Alphabet in a research note on Wednesday, July 9th. Finally, Piper Sandler restated a “neutral” rating on shares of Alphabet in a research note on Wednesday, July 9th. Six investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $241.00.

Alphabet Stock Performance

Shares of GOOG stock opened at $237.49 on Monday. The firm has a market capitalization of $2.87 trillion, a PE ratio of 25.29, a price-to-earnings-growth ratio of 1.60 and a beta of 1.00. The firm has a fifty day simple moving average of $226.97 and a two-hundred day simple moving average of $189.99. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $256.70.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.19. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The business had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.67 billion. During the same quarter in the previous year, the business posted $1.89 EPS. Alphabet’s quarterly revenue was up 13.8% on a year-over-year basis. Analysts forecast that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were issued a $0.21 dividend. The ex-dividend date was Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.4%. Alphabet’s dividend payout ratio is currently 8.95%.

Insider Buying and Selling

In other news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $243.41, for a total value of $7,910,825.00. Following the completion of the sale, the chief executive officer owned 2,402,119 shares in the company, valued at $584,699,785.79. This represents a 1.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Frances Arnold sold 103 shares of the stock in a transaction dated Tuesday, September 30th. The shares were sold at an average price of $243.13, for a total transaction of $25,042.39. Following the completion of the sale, the director owned 17,284 shares of the company’s stock, valued at approximately $4,202,258.92. This represents a 0.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 276,338 shares of company stock valued at $59,062,683 over the last 90 days. 12.99% of the stock is currently owned by company insiders.

About Alphabet

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.