Alphabet Inc. $GOOG Stock Holdings Lessened by TIAA Trust National Association

TIAA Trust National Association lowered its stake in Alphabet Inc. (NASDAQ:GOOG) by 4.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 313,599 shares of the information services provider’s stock after selling 14,376 shares during the period. TIAA Trust National Association’s holdings in Alphabet were worth $55,630,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Brighton Jones LLC raised its stake in Alphabet by 5.6% during the 4th quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider’s stock valued at $22,901,000 after purchasing an additional 6,410 shares during the period. Smart Money Group LLC raised its stake in Alphabet by 24.6% during the 1st quarter. Smart Money Group LLC now owns 2,186 shares of the information services provider’s stock valued at $342,000 after purchasing an additional 432 shares during the period. Forte Asset Management LLC acquired a new stake in Alphabet during the 1st quarter valued at $645,000. Cloud Capital Management LLC acquired a new stake in Alphabet during the 1st quarter valued at $3,430,000. Finally, Tradewinds LLC. raised its stake in Alphabet by 1.9% during the 1st quarter. Tradewinds LLC. now owns 44,838 shares of the information services provider’s stock valued at $7,005,000 after purchasing an additional 825 shares during the period. Institutional investors own 27.26% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on GOOG shares. Canaccord Genuity Group reissued a “buy” rating and set a $330.00 target price on shares of Alphabet in a research note on Thursday. Mizuho set a $325.00 target price on shares of Alphabet in a research note on Thursday. BMO Capital Markets reaffirmed an “outperform” rating and issued a $340.00 price target on shares of Alphabet in a research note on Thursday. Wolfe Research upped their price target on shares of Alphabet from $290.00 to $350.00 and gave the stock an “outperform” rating in a research note on Thursday, October 30th. Finally, Morgan Stanley upped their price target on shares of Alphabet from $210.00 to $270.00 and gave the stock an “overweight” rating in a research note on Thursday, October 2nd. Five analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $324.81.

Insider Transactions at Alphabet

In related news, Director Frances Arnold sold 112 shares of the company’s stock in a transaction on Thursday, October 30th. The shares were sold at an average price of $291.80, for a total value of $32,681.60. Following the completion of the sale, the director directly owned 18,004 shares in the company, valued at approximately $5,253,567.20. This represents a 0.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider John Kent Walker sold 17,816 shares of the company’s stock in a transaction on Monday, September 29th. The stock was sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the completion of the sale, the insider owned 42,985 shares of the company’s stock, valued at $10,635,348.70. This represents a 29.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 222,442 shares of company stock valued at $51,200,307 in the last three months. 12.99% of the stock is currently owned by company insiders.

Alphabet Trading Up 0.8%

Shares of NASDAQ:GOOG opened at $284.12 on Tuesday. The stock has a market capitalization of $3.44 trillion, a PE ratio of 28.02, a P/E/G ratio of 1.86 and a beta of 1.00. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $291.93. The firm has a fifty day moving average price of $246.09 and a 200 day moving average price of $202.22. 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 (NASDAQ:GOOG) last issued its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. The firm had revenue of $102.35 billion during the quarter, compared to analysts’ expectations of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. Alphabet’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same period in the prior year, the company posted $2.12 earnings per share. Analysts expect that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

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.