TCTC Holdings LLC Sells 242 Shares of Alphabet Inc. (NASDAQ:GOOGL)

TCTC Holdings LLC lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.4% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 62,685 shares of the information services provider’s stock after selling 242 shares during the period. TCTC Holdings LLC’s holdings in Alphabet were worth $10,396,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of GOOGL. New Hampshire Trust grew its position in shares of Alphabet by 2.7% in the 2nd quarter. New Hampshire Trust now owns 43,714 shares of the information services provider’s stock valued at $7,963,000 after acquiring an additional 1,132 shares during the period. Trinity Financial Advisors LLC lifted its stake in Alphabet by 4.5% in the 3rd quarter. Trinity Financial Advisors LLC now owns 4,423 shares of the information services provider’s stock valued at $771,000 after purchasing an additional 190 shares during the last quarter. abrdn plc grew its holdings in Alphabet by 10.7% during the third quarter. abrdn plc now owns 6,305,717 shares of the information services provider’s stock worth $1,037,196,000 after purchasing an additional 611,233 shares during the period. StoneCrest Wealth Management Inc. increased its position in Alphabet by 0.7% during the third quarter. StoneCrest Wealth Management Inc. now owns 21,509 shares of the information services provider’s stock worth $3,567,000 after buying an additional 140 shares during the last quarter. Finally, EWG Elevate Inc. raised its stake in Alphabet by 9.7% in the third quarter. EWG Elevate Inc. now owns 1,305 shares of the information services provider’s stock valued at $216,000 after buying an additional 115 shares during the period. 40.03% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

GOOGL has been the subject of several research analyst reports. Morgan Stanley lifted their target price on Alphabet from $190.00 to $205.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. KeyCorp increased their price objective on shares of Alphabet from $200.00 to $215.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Truist Financial lifted their target price on shares of Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Roth Mkm increased their price target on shares of Alphabet from $206.00 to $212.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, Evercore ISI raised their price objective on shares of Alphabet from $200.00 to $205.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Seven analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $205.90.

Alphabet Price Performance

GOOGL stock opened at $164.76 on Friday. The stock has a market cap of $2.02 trillion, a price-to-earnings ratio of 21.85, a P/E/G ratio of 1.27 and a beta of 1.03. 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 company has a 50 day simple moving average of $167.64 and a 200 day simple moving average of $170.36. Alphabet Inc. has a 1 year low of $127.90 and a 1 year high of $191.75.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The firm had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $72.85 billion. During the same quarter in the previous year, the firm posted $1.55 earnings per share. Research analysts anticipate that Alphabet Inc. will post 7.99 EPS for the current fiscal year.

Alphabet Dividend Announcement

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

Insider Transactions at Alphabet

In other Alphabet news, Director Frances Arnold sold 441 shares of the company’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $171.06, for a total value of $75,437.46. Following the sale, the director now owns 16,490 shares in the company, valued at approximately $2,820,779.40. The trade was a 2.60 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $158.68, for a total value of $3,570,300.00. Following the transaction, the chief executive officer now owns 2,137,385 shares of the company’s stock, valued at $339,160,251.80. This trade represents a 1.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 206,795 shares of company stock worth $34,673,866. Insiders own 11.55% of the company’s stock.

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.