TCTC Holdings LLC Boosts Stock Position in Alphabet Inc. (NASDAQ:GOOG)

TCTC Holdings LLC lifted its holdings in Alphabet Inc. (NASDAQ:GOOG) by 0.2% in the first quarter, HoldingsChannel reports. The firm owned 281,753 shares of the information services provider’s stock after purchasing an additional 699 shares during the quarter. Alphabet accounts for 1.6% of TCTC Holdings LLC’s portfolio, making the stock its 15th largest position. TCTC Holdings LLC’s holdings in Alphabet were worth $44,018,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. LSV Asset Management purchased a new position in Alphabet during the fourth quarter worth $27,000. Principia Wealth Advisory LLC boosted its stake in Alphabet by 111.8% during the first quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider’s stock worth $26,000 after buying an additional 85 shares during the period. MorganRosel Wealth Management LLC purchased a new position in Alphabet during the first quarter worth $26,000. Goodman Advisory Group LLC purchased a new position in Alphabet during the first quarter worth $32,000. Finally, Ball & Co Wealth Management Inc. purchased a new position in Alphabet during the fourth quarter worth $53,000. 27.26% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total transaction of $5,801,900.00. Following the sale, the chief executive officer owned 2,559,892 shares in the company, valued at approximately $456,991,919.84. The trade was a 1.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kavitark Ram Shriram sold 18,566 shares of the business’s stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $3,448,820.16. Following the sale, the director owned 243,400 shares in the company, valued at $45,213,984. The trade was a 7.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold 249,409 shares of company stock valued at $43,523,710 over the last quarter. 12.99% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

GOOG has been the subject of several recent analyst reports. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Alphabet in a research note on Wednesday, July 9th. Pivotal Research lifted their target price on Alphabet from $225.00 to $245.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. Citizens Jmp upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Thursday, June 26th. Barclays reiterated a “buy” rating on shares of Alphabet in a research report on Wednesday, July 9th. Finally, Needham & Company LLC downgraded Alphabet from a “buy” rating to a “cautious” rating in a research report on Friday, May 2nd. Three analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have given a buy rating and five have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $215.19.

Alphabet Stock Performance

GOOG stock opened at $193.42 on Tuesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The business has a 50-day moving average price of $177.37 and a 200 day moving average price of $174.38. The company has a market capitalization of $2.35 trillion, a P/E ratio of 20.60, a PEG ratio of 1.31 and a beta of 1.01. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $208.70.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $2.12 by $0.19. The business had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The firm’s revenue was up 13.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.89 earnings per share. As a group, equities research 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 will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.43%. Alphabet’s dividend payout ratio is presently 8.95%.

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.