TIAA Trust National Association Sells 11,984 Shares of Alphabet Inc. $GOOG

TIAA Trust National Association decreased its holdings in Alphabet Inc. (NASDAQ:GOOG) by 3.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 301,615 shares of the information services provider’s stock after selling 11,984 shares during the period. TIAA Trust National Association’s holdings in Alphabet were worth $73,459,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in GOOG. University of Illinois Foundation purchased a new stake in Alphabet during the 2nd quarter valued at approximately $31,000. Manning & Napier Advisors LLC bought a new position in shares of Alphabet during the third quarter worth $32,000. Horrell Capital Management Inc. boosted its position in shares of Alphabet by 100.0% during the second quarter. Horrell Capital Management Inc. now owns 200 shares of the information services provider’s stock worth $35,000 after acquiring an additional 100 shares during the last quarter. Tripletail Wealth Management LLC purchased a new position in Alphabet during the third quarter valued at $40,000. Finally, Decker Retirement Planning Inc. increased its holdings in Alphabet by 60.9% in the 2nd quarter. Decker Retirement Planning Inc. now owns 251 shares of the information services provider’s stock valued at $45,000 after acquiring an additional 95 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Analyst Upgrades and Downgrades

GOOG has been the subject of a number of research analyst reports. Scotiabank restated an “outperform” rating and set a $400.00 price objective (up from $375.00) on shares of Alphabet in a research report on Thursday, February 5th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $370.00 price objective on shares of Alphabet in a research note on Tuesday, January 20th. JPMorgan Chase & Co. increased their target price on Alphabet from $385.00 to $395.00 and gave the company an “overweight” rating in a research report on Thursday, February 5th. Weiss Ratings restated a “buy (b)” rating on shares of Alphabet in a research report on Wednesday, January 21st. Finally, Canaccord Genuity Group increased their price objective on shares of Alphabet from $330.00 to $390.00 and gave the company a “buy” rating in a research report on Wednesday, January 7th. Nine analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $343.90.

Alphabet Stock Up 1.4%

Shares of GOOG opened at $311.43 on Monday. The company has a quick ratio of 2.01, a current ratio of 2.01 and a debt-to-equity ratio of 0.11. The business has a fifty day moving average of $321.49 and a 200 day moving average of $283.93. The company has a market cap of $3.77 trillion, a PE ratio of 28.81, a P/E/G ratio of 1.82 and a beta of 1.10. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $350.15.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Wednesday, February 4th. The information services provider reported $2.82 earnings per share for the quarter, beating analysts’ consensus estimates of $2.59 by $0.23. The business had revenue of $113.83 billion for the quarter, compared to analysts’ expectations of $111.24 billion. Alphabet had a net margin of 32.81% and a return on equity of 35.01%. The business’s revenue was up 18.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.15 earnings per share. On average, sell-side analysts expect that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 9th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Monday, March 9th. This represents a $0.84 annualized dividend and a yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is presently 7.77%.

Insiders Place Their Bets

In other news, major shareholder 2017 Gp L.L.C. Gv sold 1,845,308 shares of the company’s stock in a transaction that occurred on Friday, January 30th. The stock was sold at an average price of $19.00, for a total transaction of $35,060,852.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider John Kent Walker sold 47,574 shares of the stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $301.45, for a total value of $14,341,182.30. Following the completion of the sale, the insider owned 13,227 shares in the company, valued at approximately $3,987,279.15. The trade was a 78.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 2,112,380 shares of company stock valued at $119,112,888 over the last quarter. Corporate insiders own 12.99% of the company’s stock.

Alphabet Company Profile

Alphabet Inc (NASDAQ: GOOG) is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as “Other Bets.” Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company’s history.

Alphabet’s core business centers on internet search and advertising, with Google Search and the company’s ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.