Tectonic Advisors LLC Grows Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Tectonic Advisors LLC boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 8.0% during the fourth quarter, Holdings Channel reports. The firm owned 8,660 shares of the information services provider’s stock after purchasing an additional 641 shares during the quarter. Tectonic Advisors LLC’s holdings in Alphabet were worth $1,639,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Money Concepts Capital Corp raised its stake in Alphabet by 3.4% during the 4th quarter. Money Concepts Capital Corp now owns 8,498 shares of the information services provider’s stock valued at $1,609,000 after buying an additional 281 shares during the last quarter. Confluence Wealth Services Inc. increased its position in Alphabet by 2.7% during the fourth quarter. Confluence Wealth Services Inc. now owns 28,409 shares of the information services provider’s stock valued at $5,624,000 after acquiring an additional 750 shares during the last quarter. Country Club Bank increased its position in Alphabet by 0.3% during the fourth quarter. Country Club Bank now owns 26,007 shares of the information services provider’s stock valued at $4,974,000 after acquiring an additional 66 shares during the last quarter. Jericho Financial LLP bought a new position in Alphabet in the fourth quarter valued at about $6,689,000. Finally, Berkshire Money Management Inc. purchased a new position in Alphabet in the fourth quarter worth about $859,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on GOOGL. Cantor Fitzgerald reduced their price target on shares of Alphabet from $215.00 to $210.00 and set a “neutral” rating for the company in a research report on Wednesday, January 22nd. Piper Sandler reduced their target price on shares of Alphabet from $210.00 to $208.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. Roth Mkm lifted their price target on shares of Alphabet from $206.00 to $212.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Evercore ISI upped their price objective on Alphabet from $200.00 to $205.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Finally, JPMorgan Chase & Co. lowered their target price on Alphabet from $232.00 to $220.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and a consensus price target of $210.62.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 1,367 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $170.41, for a total value of $232,950.47. Following the sale, the chief accounting officer now owns 23,515 shares in the company, valued at $4,007,191.15. This trade represents a 5.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $176.67, for a total transaction of $3,975,075.00. Following the sale, the chief executive officer now directly owns 2,061,806 shares of the company’s stock, valued at $364,259,266.02. This represents a 1.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 89,529 shares of company stock valued at $16,600,078. Insiders own 11.55% of the company’s stock.

Alphabet Stock Down 0.5 %

Shares of GOOGL opened at $185.23 on Friday. Alphabet Inc. has a 52-week low of $130.66 and a 52-week high of $207.05. The company has a market cap of $2.27 trillion, a PE ratio of 23.01, a P/E/G ratio of 1.39 and a beta of 0.99. The company has a quick ratio of 1.95, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The business has a fifty day moving average of $192.64 and a 200 day moving average of $175.03.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, beating the consensus estimate of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. On average, sell-side analysts expect that Alphabet Inc. will post 8.91 EPS for the current year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be issued a $0.20 dividend. The ex-dividend date is Monday, March 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.43%. Alphabet’s payout ratio is 9.94%.

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.