Alphabet Inc. (NASDAQ:GOOG) Holdings Boosted by Tennessee Valley Asset Management Partners

Tennessee Valley Asset Management Partners grew its holdings in Alphabet Inc. (NASDAQ:GOOG) by 24.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,294 shares of the information services provider’s stock after purchasing an additional 2,409 shares during the period. Tennessee Valley Asset Management Partners’ holdings in Alphabet were worth $2,255,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of GOOG. Capital International Investors grew its holdings in shares of Alphabet by 9.3% during the 1st quarter. Capital International Investors now owns 87,716,562 shares of the information services provider’s stock valued at $13,355,724,000 after acquiring an additional 7,470,042 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Alphabet by 19.7% during the first quarter. JPMorgan Chase & Co. now owns 84,171,721 shares of the information services provider’s stock valued at $12,815,986,000 after purchasing an additional 13,876,534 shares during the last quarter. Capital World Investors grew its stake in Alphabet by 2.2% in the first quarter. Capital World Investors now owns 45,731,826 shares of the information services provider’s stock valued at $6,963,128,000 after purchasing an additional 979,083 shares in the last quarter. Capital Research Global Investors increased its position in Alphabet by 2.0% in the 1st quarter. Capital Research Global Investors now owns 35,558,778 shares of the information services provider’s stock worth $5,414,179,000 after purchasing an additional 684,968 shares during the last quarter. Finally, Sanders Capital LLC raised its stake in shares of Alphabet by 2.9% during the 4th quarter. Sanders Capital LLC now owns 28,558,000 shares of the information services provider’s stock worth $4,024,679,000 after purchasing an additional 813,428 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOG has been the topic of several recent research reports. Oppenheimer raised their price objective on shares of Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. DA Davidson upgraded shares of Alphabet to a “hold” rating in a report on Tuesday, September 10th. Cantor Fitzgerald upgraded shares of Alphabet to a “hold” rating in a report on Thursday, September 5th. Rosenblatt Securities cut Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target for the company. in a research report on Friday, June 28th. Finally, TD Cowen raised their price objective on Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $182.86.

Alphabet Price Performance

Shares of NASDAQ:GOOG opened at $158.99 on Tuesday. The company has a market cap of $1.96 trillion, a price-to-earnings ratio of 24.39, a PEG ratio of 1.13 and a beta of 1.04. The business has a 50 day moving average price of $168.43 and a 200 day moving average price of $166.48. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a twelve month low of $121.46 and a twelve month high of $193.31.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The company had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $84.22 billion. During the same period in the prior year, the business earned $1.44 earnings per share. Alphabet’s revenue for the quarter was up 13.6% compared to the same quarter last year. Research analysts predict that Alphabet Inc. will post 7.63 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were issued a dividend of $0.20 per share. The ex-dividend date was Monday, September 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.50%. Alphabet’s payout ratio is 12.27%.

Insider Activity

In related news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total transaction of $125,126.54. Following the sale, the chief accounting officer now directly owns 30,650 shares of the company’s stock, valued at $5,623,355.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, Director John L. Hennessy sold 800 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $153.75, for a total transaction of $123,000.00. Following the completion of the transaction, the director now directly owns 28,524 shares of the company’s stock, valued at approximately $4,385,565. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total transaction of $125,126.54. Following the sale, the chief accounting officer now owns 30,650 shares in the company, valued at $5,623,355.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 202,667 shares of company stock valued at $34,341,581. Insiders own 12.99% of the company’s stock.

Alphabet Company 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.