Teachers Insurance & Annuity Association of America Acquires New Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Teachers Insurance & Annuity Association of America purchased a new position in shares of Alphabet Inc. (NASDAQ:GOOGL) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 400 shares of the information services provider’s stock, valued at approximately $66,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Christopher J. Hasenberg Inc boosted its holdings in Alphabet by 75.0% in the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 60 shares in the last quarter. LMR Partners LLP purchased a new stake in shares of Alphabet during the third quarter worth approximately $32,000. Kings Path Partners LLC purchased a new position in Alphabet in the second quarter worth $36,000. Denver PWM LLC purchased a new position in Alphabet in the second quarter worth $41,000. Finally, Quarry LP acquired a new stake in Alphabet in the second quarter valued at $53,000. 40.03% of the stock is owned by institutional investors and hedge funds.

Alphabet Stock Up 5.6 %

Shares of Alphabet stock opened at $185.17 on Wednesday. The stock’s fifty day moving average is $169.70 and its 200-day moving average is $170.21. The firm has a market capitalization of $2.27 trillion, a PE ratio of 24.56, a price-to-earnings-growth ratio of 1.24 and a beta of 1.01. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 12-month low of $129.68 and a 12-month high of $191.75.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The company had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same period in the previous year, the firm earned $1.55 earnings per share. Equities analysts anticipate that Alphabet Inc. will post 8.01 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

Insider Transactions at Alphabet

In other news, Director John L. Hennessy sold 800 shares of Alphabet stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $153.75, for a total transaction of $123,000.00. Following the transaction, the director now owns 28,524 shares in the company, valued at approximately $4,385,565. The trade was a 2.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $160.63, for a total value of $3,614,175.00. Following the transaction, the chief executive officer now owns 2,114,885 shares in the company, valued at $339,713,977.55. This represents a 1.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 197,923 shares of company stock valued at $34,244,676 over the last three months. Company insiders own 11.55% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on GOOGL shares. Wedbush reissued an “outperform” rating and issued a $205.00 target price on shares of Alphabet in a report on Thursday, October 24th. Piper Sandler restated an “overweight” rating and issued a $210.00 price objective (up from $200.00) on shares of Alphabet in a report on Wednesday, October 30th. The Goldman Sachs Group dropped their target price on Alphabet from $217.00 to $208.00 and set a “buy” rating on the stock in a report on Monday, October 14th. China Renaissance upgraded Alphabet from a “hold” rating to a “buy” rating in a report on Thursday, October 31st. Finally, Robert W. Baird reiterated an “outperform” rating and issued a $205.00 target price on shares of Alphabet in a research report on Tuesday. Seven 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. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $206.03.

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.