TIAA Trust National Association Sells 52,909 Shares of Alphabet Inc. (NASDAQ:GOOGL)

TIAA Trust National Association reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 4.8% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 1,041,065 shares of the information services provider’s stock after selling 52,909 shares during the period. TIAA Trust National Association’s holdings in Alphabet were worth $189,633,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of GOOGL. MorganRosel Wealth Management LLC boosted its holdings in Alphabet by 3.6% in the 2nd quarter. MorganRosel Wealth Management LLC now owns 1,620 shares of the information services provider’s stock valued at $295,000 after purchasing an additional 57 shares during the period. Hengehold Capital Management LLC boosted its stake in Alphabet by 0.8% during the second quarter. Hengehold Capital Management LLC now owns 7,224 shares of the information services provider’s stock valued at $1,316,000 after buying an additional 60 shares during the period. Christopher J. Hasenberg Inc grew its position in Alphabet by 75.0% during the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after buying an additional 60 shares in the last quarter. Joseph P. Lucia & Associates LLC increased its stake in Alphabet by 1.0% in the 1st quarter. Joseph P. Lucia & Associates LLC now owns 6,624 shares of the information services provider’s stock worth $1,000,000 after acquiring an additional 64 shares during the last quarter. Finally, Sunflower Bank N.A. raised its holdings in shares of Alphabet by 1.0% in the 2nd quarter. Sunflower Bank N.A. now owns 6,309 shares of the information services provider’s stock valued at $1,149,000 after acquiring an additional 65 shares in the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, SVP Prabhakar Raghavan sold 3,262 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $183.99, for a total transaction of $600,175.38. Following the transaction, the senior vice president now directly owns 9 shares of the company’s stock, valued at approximately $1,655.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, SVP Prabhakar Raghavan sold 3,262 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $183.99, for a total value of $600,175.38. Following the transaction, the senior vice president now owns 9 shares in the company, valued at approximately $1,655.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction that occurred on 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 of the company’s stock, valued at $5,623,355.50. The disclosure for this sale can be found here. Insiders sold 179,367 shares of company stock valued at $30,016,931 over the last three months. Insiders own 11.55% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Wells Fargo & Company raised their price objective on shares of Alphabet from $187.00 to $190.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 24th. Wolfe Research began coverage on Alphabet in a research report on Tuesday, July 16th. They set an “outperform” rating and a $240.00 price target on the stock. DA Davidson initiated coverage on Alphabet in a report on Tuesday, September 10th. They issued a “neutral” rating and a $170.00 price objective for the company. JMP Securities reissued a “market outperform” rating and set a $200.00 price objective on shares of Alphabet in a report on Tuesday, July 30th. Finally, Truist Financial upped their target price on Alphabet from $190.00 to $196.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Eight analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $201.76.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $157.46 on Monday. The business has a fifty day moving average price of $167.46 and a 200-day moving average price of $164.87. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. The company has a market capitalization of $1.94 trillion, a PE ratio of 24.15, a PEG ratio of 1.13 and a beta of 1.04. Alphabet Inc. has a 1-year low of $120.21 and a 1-year high of $191.75.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results 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. The company had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $70.60 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same quarter last year, the firm earned $1.44 earnings per share. As a group, equities analysts expect that Alphabet Inc. will post 7.64 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 9th will be paid a $0.20 dividend. The ex-dividend date is Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.51%. Alphabet’s dividend payout ratio is presently 12.27%.

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.