State of Tennessee Treasury Department Has $264.51 Million Holdings in Alphabet Inc. (NASDAQ:GOOGL)

State of Tennessee Treasury Department cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOGLFree Report) by 0.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,893,530 shares of the information services provider’s stock after selling 15,312 shares during the period. Alphabet accounts for approximately 1.0% of State of Tennessee Treasury Department’s holdings, making the stock its 16th biggest holding. State of Tennessee Treasury Department’s holdings in Alphabet were worth $264,507,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. WealthPlan Investment Management LLC raised its position in shares of Alphabet by 17.0% in the 3rd quarter. WealthPlan Investment Management LLC now owns 13,891 shares of the information services provider’s stock valued at $1,818,000 after acquiring an additional 2,017 shares during the period. Wealth Advisors of Iowa LLC increased its stake in Alphabet by 148.6% during the 3rd quarter. Wealth Advisors of Iowa LLC now owns 3,060 shares of the information services provider’s stock worth $400,000 after purchasing an additional 1,829 shares in the last quarter. Patron Partners LLC increased its stake in Alphabet by 1.9% during the 3rd quarter. Patron Partners LLC now owns 10,725 shares of the information services provider’s stock worth $1,403,000 after purchasing an additional 204 shares in the last quarter. Van Hulzen Asset Management LLC increased its stake in Alphabet by 16.9% during the 3rd quarter. Van Hulzen Asset Management LLC now owns 329,588 shares of the information services provider’s stock worth $43,130,000 after purchasing an additional 47,557 shares in the last quarter. Finally, Jacobson & Schmitt Advisors LLC increased its stake in Alphabet by 0.6% during the 3rd quarter. Jacobson & Schmitt Advisors LLC now owns 91,470 shares of the information services provider’s stock worth $11,970,000 after purchasing an additional 563 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Wedbush increased their target price on Alphabet from $175.00 to $205.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Truist Financial raised their price target on shares of Alphabet from $170.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Raymond James raised their price target on shares of Alphabet from $160.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Loop Capital raised their price target on shares of Alphabet from $155.00 to $170.00 and gave the stock a “hold” rating in a research note on Wednesday, May 1st. Finally, Roth Mkm raised their price target on shares of Alphabet from $164.00 to $202.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Five analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $191.57.

Get Our Latest Report on GOOGL

Insider Activity

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $154.79, for a total transaction of $105,566.78. Following the completion of the transaction, the chief accounting officer now owns 29,284 shares in the company, valued at approximately $4,532,870.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $154.79, for a total transaction of $105,566.78. Following the completion of the sale, the chief accounting officer now directly owns 29,284 shares in the company, valued at approximately $4,532,870.36. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 500 shares of Alphabet stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $149.50, for a total value of $74,750.00. Following the completion of the transaction, the director now directly owns 8,791 shares of the company’s stock, valued at $1,314,254.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 157,458 shares of company stock valued at $25,538,973. Company insiders own 11.55% of the company’s stock.

Alphabet Stock Performance

Alphabet stock opened at $175.01 on Tuesday. The business has a 50 day moving average of $166.20 and a 200-day moving average of $149.98. The company has a market capitalization of $2.16 trillion, a P/E ratio of 26.84, a P/E/G ratio of 1.31 and a beta of 1.01. Alphabet Inc. has a 1 year low of $115.35 and a 1 year high of $178.77. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.15.

Alphabet (NASDAQ:GOOGLGet Free Report) last released its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.40. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The firm had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $66.04 billion. During the same quarter last year, the firm earned $1.17 earnings per share. On average, equities research analysts predict that Alphabet Inc. will post 7.6 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 10th will be given a $0.20 dividend. The ex-dividend date of this dividend is Monday, June 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.46%.

About Alphabet

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.