TFC Financial Management Inc. Purchases 145 Shares of Alphabet Inc. $GOOG

TFC Financial Management Inc. grew its holdings in Alphabet Inc. (NASDAQ:GOOG) by 3.4% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,436 shares of the information services provider’s stock after acquiring an additional 145 shares during the quarter. TFC Financial Management Inc.’s holdings in Alphabet were worth $787,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. MorganRosel Wealth Management LLC bought a new stake in shares of Alphabet in the first quarter valued at approximately $26,000. IFS Advisors LLC raised its holdings in Alphabet by 400.0% in the 2nd quarter. IFS Advisors LLC now owns 150 shares of the information services provider’s stock valued at $27,000 after acquiring an additional 120 shares in the last quarter. Robbins Farley lifted its position in shares of Alphabet by 60.0% during the 2nd quarter. Robbins Farley now owns 160 shares of the information services provider’s stock valued at $28,000 after acquiring an additional 60 shares during the period. WestEnd Advisors LLC grew its holdings in shares of Alphabet by 58.7% during the 2nd quarter. WestEnd Advisors LLC now owns 165 shares of the information services provider’s stock worth $29,000 after purchasing an additional 61 shares in the last quarter. Finally, Fairman Group LLC increased its position in shares of Alphabet by 121.3% in the second quarter. Fairman Group LLC now owns 177 shares of the information services provider’s stock worth $31,000 after purchasing an additional 97 shares during the period. 27.26% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on GOOG shares. Barclays reaffirmed a “buy” rating on shares of Alphabet in a research report on Wednesday, July 9th. TD Cowen increased their price target on shares of Alphabet from $270.00 to $280.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Robert W. Baird boosted their price objective on shares of Alphabet from $215.00 to $275.00 and gave the company an “outperform” rating in a research report on Monday, September 22nd. Hsbc Global Res raised Alphabet to a “strong-buy” rating in a report on Tuesday, October 7th. Finally, KeyCorp set a $265.00 price target on Alphabet in a report on Wednesday, September 3rd. Six analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $244.68.

Insiders Place Their Bets

In related news, Director Frances Arnold sold 103 shares of the firm’s stock in a transaction on Tuesday, September 30th. The stock was sold at an average price of $243.13, for a total transaction of $25,042.39. Following the completion of the transaction, the director directly owned 17,284 shares of the company’s stock, valued at $4,202,258.92. This trade represents a 0.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $250.15, for a total value of $8,129,875.00. Following the completion of the sale, the chief executive officer owned 2,369,619 shares in the company, valued at $592,760,192.85. This trade represents a 1.35% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 243,372 shares of company stock valued at $55,110,740 over the last ninety days. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Stock Performance

Alphabet stock opened at $253.79 on Monday. The business has a 50 day moving average of $232.18 and a 200-day moving average of $193.25. The company has a market capitalization of $3.07 trillion, a P/E ratio of 27.03, a P/E/G ratio of 1.72 and a beta of 1.00. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $257.58. 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:GOOG) last posted its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping 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 firm had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.67 billion. During the same period in the previous year, the firm posted $1.89 EPS. The company’s revenue for the quarter was up 13.8% compared to the same quarter last year. On average, equities research analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current 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.