TFB Advisors LLC Acquires 577 Shares of Alphabet Inc. (NASDAQ:GOOGL)

TFB Advisors LLC lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,162 shares of the information services provider’s stock after buying an additional 577 shares during the quarter. Alphabet comprises 1.0% of TFB Advisors LLC’s investment portfolio, making the stock its 18th biggest position. TFB Advisors LLC’s holdings in Alphabet were worth $3,344,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Christopher J. Hasenberg Inc increased its position in shares of Alphabet by 75.0% during the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after buying an additional 60 shares during the period. Kings Path Partners LLC bought a new position in shares of Alphabet in the second quarter valued at approximately $36,000. Denver PWM LLC purchased a new position in Alphabet during the second quarter valued at approximately $41,000. Quarry LP bought a new stake in Alphabet during the 2nd quarter worth approximately $53,000. Finally, Summit Securities Group LLC purchased a new stake in Alphabet in the 2nd quarter worth approximately $55,000. 40.03% of the stock is owned by institutional investors.

Analysts Set New Price Targets

GOOGL has been the subject of a number of recent analyst reports. Morgan Stanley boosted their price target on shares of Alphabet from $190.00 to $205.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Seaport Res Ptn upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. China Renaissance upgraded Alphabet from a “hold” rating to a “buy” rating in a research report on Thursday, October 31st. Guggenheim upped their price objective on shares of Alphabet from $195.00 to $205.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Finally, Royal Bank of Canada lifted their target price on shares of Alphabet from $204.00 to $210.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Seven equities research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and an average price target of $205.90.

Alphabet Price Performance

Shares of GOOGL stock opened at $175.98 on Thursday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. Alphabet Inc. has a fifty-two week low of $127.90 and a fifty-two week high of $191.75. The firm has a market cap of $2.15 trillion, a P/E ratio of 23.34, a P/E/G ratio of 1.23 and a beta of 1.03. The business’s 50 day moving average price is $167.23 and its 200-day moving average price is $170.40.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The business had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $72.85 billion. During the same quarter in the previous year, the business posted $1.55 earnings per share. On average, equities research analysts anticipate that Alphabet Inc. will post 7.99 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be issued a $0.20 dividend. The ex-dividend date is Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.45%. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total transaction of $109,420.08. Following the sale, the chief accounting officer now owns 32,017 shares in the company, valued at approximately $5,136,807.48. The trade was a 2.09 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $158.68, for a total transaction of $3,570,300.00. Following the completion of the sale, the chief executive officer now directly owns 2,137,385 shares in the company, valued at $339,160,251.80. This represents a 1.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 184,295 shares of company stock valued at $30,698,791. 11.55% of the stock is currently owned by corporate insiders.

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.