TCG Advisory Services LLC Raises Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

TCG Advisory Services LLC boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 81.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,317 shares of the information services provider’s stock after buying an additional 15,004 shares during the quarter. TCG Advisory Services LLC’s holdings in Alphabet were worth $4,695,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in GOOG. FMR LLC grew its position in Alphabet by 3.8% in the 3rd quarter. FMR LLC now owns 120,234,117 shares of the information services provider’s stock valued at $15,852,868,000 after acquiring an additional 4,348,188 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Alphabet by 11.3% in the third quarter. JPMorgan Chase & Co. now owns 95,941,129 shares of the information services provider’s stock valued at $12,649,838,000 after purchasing an additional 9,703,425 shares in the last quarter. Northern Trust Corp increased its stake in Alphabet by 2.3% during the 3rd quarter. Northern Trust Corp now owns 57,269,184 shares of the information services provider’s stock worth $7,550,942,000 after buying an additional 1,275,060 shares during the period. Sanders Capital LLC lifted its holdings in Alphabet by 0.3% during the 3rd quarter. Sanders Capital LLC now owns 27,744,572 shares of the information services provider’s stock worth $3,658,122,000 after buying an additional 92,741 shares in the last quarter. Finally, Jennison Associates LLC boosted its position in Alphabet by 2.0% in the 3rd quarter. Jennison Associates LLC now owns 19,822,203 shares of the information services provider’s stock valued at $2,613,557,000 after buying an additional 390,118 shares during the period. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Morgan Stanley reaffirmed an “overweight” rating and set a $165.00 price objective on shares of Alphabet in a research report on Thursday, April 11th. Raymond James increased their price target on Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a research report on Wednesday, January 24th. Stifel Nicolaus boosted their price objective on Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Susquehanna raised their target price on shares of Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a report on Wednesday, January 31st. Finally, Oppenheimer boosted their price target on shares of Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a report on Monday, April 8th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, Alphabet currently has a consensus rating of “Buy” and a consensus price target of $165.67.

Alphabet Stock Up 0.3 %

GOOG stock traded up $0.53 during trading on Friday, hitting $168.99. 22,767,056 shares of the company’s stock were exchanged, compared to its average volume of 22,353,938. The business has a 50-day moving average price of $151.46 and a two-hundred day moving average price of $143.69. The company has a current ratio of 2.15, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $2.10 trillion, a price-to-earnings ratio of 25.92, a PEG ratio of 1.26 and a beta of 1.02. Alphabet Inc. has a 52-week low of $104.70 and a 52-week high of $176.42.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.51 by $0.38. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The business had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $78.75 billion. During the same quarter in the previous year, the firm earned $1.17 EPS. The company’s revenue was up 15.4% compared to the same quarter last year. As a group, equities research analysts expect that Alphabet Inc. will post 7.66 EPS for the current year.

Alphabet Dividend Announcement

The company also recently disclosed a — dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 10th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, June 10th.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $166.80, for a total value of $3,753,000.00. Following the completion of the sale, the chief executive officer now directly owns 2,280,511 shares of the company’s stock, valued at $380,389,234.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $166.80, for a total value of $3,753,000.00. Following the transaction, the chief executive officer now directly owns 2,280,511 shares in the company, valued at $380,389,234.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director John L. Hennessy sold 2,100 shares of the stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $175.76, for a total transaction of $369,096.00. Following the sale, the director now owns 5,891 shares of the company’s stock, valued at approximately $1,035,402.16. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 275,129 shares of company stock worth $40,382,765. Corporate insiders own 12.99% of the company’s stock.

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.