TCTC Holdings LLC Boosts Position in Alphabet Inc. (NASDAQ:GOOGL)

TCTC Holdings LLC grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 1,911.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 53,048 shares of the information services provider’s stock after buying an additional 50,411 shares during the period. TCTC Holdings LLC’s holdings in Alphabet were worth $5,074,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in GOOGL. IAG Wealth Partners LLC lifted its holdings in shares of Alphabet by 3,275.0% during the third quarter. IAG Wealth Partners LLC now owns 270 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 262 shares in the last quarter. Artemis Wealth Advisors LLC boosted its position in Alphabet by 1,900.0% in the third quarter. Artemis Wealth Advisors LLC now owns 280 shares of the information services provider’s stock worth $27,000 after purchasing an additional 266 shares during the last quarter. Laurel Wealth Planning LLC increased its position in shares of Alphabet by 1,900.0% during the 3rd quarter. Laurel Wealth Planning LLC now owns 300 shares of the information services provider’s stock valued at $29,000 after purchasing an additional 285 shares during the last quarter. Coston McIsaac & Partners grew its position in Alphabet by 1,900.0% during the third quarter. Coston McIsaac & Partners now owns 320 shares of the information services provider’s stock valued at $30,000 after buying an additional 304 shares during the period. Finally, Horizons Wealth Management bought a new stake in Alphabet during the second quarter valued at approximately $33,000. 34.06% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Alphabet

In other news, SVP Prabhakar Raghavan sold 22,203 shares of the firm’s stock in a transaction that occurred on Tuesday, January 3rd. The shares were sold at an average price of $89.75, for a total transaction of $1,992,719.25. Following the transaction, the senior vice president now directly owns 76,579 shares in the company, valued at $6,872,965.25. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Ann Mather sold 380 shares of the stock in a transaction dated Tuesday, December 27th. The shares were sold at an average price of $89.24, for a total transaction of $33,911.20. Following the completion of the transaction, the director now directly owns 11,300 shares of the company’s stock, valued at $1,008,412. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Prabhakar Raghavan sold 22,203 shares of the company’s stock in a transaction on Tuesday, January 3rd. The stock was sold at an average price of $89.75, for a total value of $1,992,719.25. Following the transaction, the senior vice president now directly owns 76,579 shares in the company, valued at approximately $6,872,965.25. The disclosure for this sale can be found here. Insiders sold 36,745 shares of company stock worth $3,424,078 over the last 90 days. Corporate insiders own 11.44% of the company’s stock.

Alphabet Stock Up 1.8 %

Shares of Alphabet stock opened at $92.00 on Friday. Alphabet Inc. has a 52-week low of $83.34 and a 52-week high of $143.79. The company has a 50 day moving average of $93.57 and a 200 day moving average of $97.91. The company has a quick ratio of 2.34, a current ratio of 2.38 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $1.18 trillion, a P/E ratio of 20.22, a P/E/G ratio of 1.24 and a beta of 1.09.

Alphabet (NASDAQ:GOOGL – Get Rating) last released its quarterly earnings data on Thursday, February 2nd. The information services provider reported $1.05 EPS for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.09). The business had revenue of $76.05 billion during the quarter, compared to analysts’ expectations of $63.15 billion. Alphabet had a net margin of 21.20% and a return on equity of 23.54%. During the same quarter in the previous year, the company posted $1.53 EPS. As a group, research analysts forecast that Alphabet Inc. will post 5.12 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Truist Financial lowered their price target on shares of Alphabet from $130.00 to $120.00 and set a “buy” rating on the stock in a report on Friday, February 3rd. Bank of America boosted their target price on shares of Alphabet from $116.00 to $119.00 and gave the stock a “buy” rating in a report on Tuesday, January 31st. JMP Securities reissued a “market outperform” rating and issued a $132.00 target price on shares of Alphabet in a report on Friday, February 3rd. Rosenblatt Securities lowered their target price on shares of Alphabet from $130.00 to $128.00 and set a “buy” rating on the stock in a report on Friday, February 3rd. Finally, MKM Partners boosted their target price on shares of Alphabet from $120.00 to $126.00 in a report on Friday, February 3rd. Five investment analysts have rated the stock with a hold rating, thirty-three have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and a consensus target price of $132.32.

Alphabet Company Profile

(Get Rating)

Alphabet, Inc engages in the business of delivering online advertising, cloud-based solutions that provide enterprise customers with infrastructure and platform services, the provision of communication and collaboration tools, and sales of other products and services such as apps and in-app purchases, hardware, and subscription-based products.