TCTC Holdings LLC Has $10.40 Million Position in Alphabet Inc. (NASDAQ:GOOGL)

TCTC Holdings LLC lessened its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 0.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 62,685 shares of the information services provider’s stock after selling 242 shares during the quarter. TCTC Holdings LLC’s holdings in Alphabet were worth $10,396,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Christopher J. Hasenberg Inc boosted its stake in Alphabet by 75.0% in the 2nd 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 in the last quarter. Kings Path Partners LLC bought a new position in shares of Alphabet during the second quarter valued at $36,000. Denver PWM LLC acquired a new stake in shares of Alphabet in the 2nd quarter valued at $41,000. Quarry LP bought a new stake in shares of Alphabet in the 2nd quarter worth about $53,000. Finally, Summit Securities Group LLC acquired a new stake in shares of Alphabet during the 2nd quarter worth about $55,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $176.67, for a total value of $3,975,075.00. Following the sale, the chief executive officer now owns 2,061,806 shares in the company, valued at approximately $364,259,266.02. The trade was a 1.08 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Kavitark Ram Shriram sold 10,500 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the transaction, the director now directly owns 330,466 shares of the company’s stock, valued at $59,741,643.48. This represents a 3.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 206,795 shares of company stock worth $34,673,866. Corporate insiders own 11.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. DA Davidson started coverage on shares of Alphabet in a research report on Tuesday, September 10th. They issued a “neutral” rating and a $170.00 price target on the stock. KeyCorp boosted their target price on Alphabet from $200.00 to $215.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. BMO Capital Markets reaffirmed an “outperform” rating and set a $217.00 price target (up from $215.00) on shares of Alphabet in a report on Wednesday, October 30th. Morgan Stanley boosted their price objective on Alphabet from $190.00 to $205.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Finally, Sanford C. Bernstein raised their target price on Alphabet from $180.00 to $185.00 and gave the company a “market perform” rating in a research note on Wednesday, October 30th. Seven investment analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $205.90.

Alphabet Trading Down 1.7 %

NASDAQ:GOOGL opened at $164.76 on Friday. The business’s 50-day simple moving average is $167.64 and its 200-day simple moving average is $170.36. Alphabet Inc. has a fifty-two week low of $127.90 and a fifty-two week high of $191.75. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The stock has a market capitalization of $2.02 trillion, a PE ratio of 21.85, a price-to-earnings-growth ratio of 1.27 and a beta of 1.03.

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 company had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $72.85 billion. During the same quarter in the prior year, the company earned $1.55 earnings per share. Sell-side analysts expect that Alphabet Inc. will post 7.99 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

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.