TCTC Holdings LLC Acquires 3,924 Shares of Alphabet Inc. (NASDAQ:GOOGL)

TCTC Holdings LLC lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 7.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 56,972 shares of the information services provider’s stock after acquiring an additional 3,924 shares during the quarter. TCTC Holdings LLC’s holdings in Alphabet were worth $5,027,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in GOOGL. Bornite Capital Management LP acquired a new stake in Alphabet during the 1st quarter worth approximately $16,688,000. Markel Corp lifted its holdings in Alphabet by 17.0% during the 1st quarter. Markel Corp now owns 15,500 shares of the information services provider’s stock worth $43,110,000 after purchasing an additional 2,250 shares during the last quarter. United Bank lifted its holdings in Alphabet by 5.9% during the 1st quarter. United Bank now owns 2,033 shares of the information services provider’s stock worth $5,654,000 after purchasing an additional 113 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Alphabet by 23.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 323,918 shares of the information services provider’s stock worth $900,929,000 after purchasing an additional 61,427 shares during the last quarter. Finally, Dakota Wealth Management lifted its holdings in Alphabet by 20.4% during the 1st quarter. Dakota Wealth Management now owns 9,279 shares of the information services provider’s stock worth $25,806,000 after purchasing an additional 1,570 shares during the last quarter. 34.06% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of several analyst reports. Raymond James lifted their price objective on Alphabet from $119.00 to $130.00 and gave the company an “outperform” rating in a report on Wednesday, April 26th. Jefferies Financial Group lifted their price objective on Alphabet from $130.00 to $150.00 in a report on Tuesday. StockNews.com initiated coverage on Alphabet in a report on Thursday, May 18th. They issued a “buy” rating for the company. Roth Mkm lifted their price objective on Alphabet from $126.00 to $134.00 and gave the company a “buy” rating in a report on Wednesday, April 26th. Finally, Stifel Nicolaus started coverage on Alphabet in a report on Monday, March 20th. They issued a “buy” rating and a $130.00 price objective for the company. Four investment analysts have rated the stock with a hold rating, thirty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $130.56.

Insider Buying and Selling

In related news, major shareholder 2019 Gp L.L.C. Gv sold 87,922 shares of the company’s stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $14.13, for a total transaction of $1,242,337.86. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, major shareholder 2019 Gp L.L.C. Gv sold 87,922 shares of the stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $14.13, for a total value of $1,242,337.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Prabhakar Raghavan sold 32,379 shares of the stock in a transaction that occurred on Monday, April 3rd. The stock was sold at an average price of $103.46, for a total value of $3,349,931.34. Following the completion of the sale, the senior vice president now directly owns 76,580 shares of the company’s stock, valued at $7,922,966.80. The disclosure for this sale can be found here. In the last three months, insiders have bought 732,217 shares of company stock valued at $21,135,371 and have sold 753,384 shares valued at $30,574,577. 0.88% of the stock is owned by company insiders.

Alphabet Stock Up 2.1 %

GOOGL stock opened at $123.48 on Friday. The stock’s 50 day simple moving average is $108.64 and its 200 day simple moving average is $99.13. Alphabet Inc. has a fifty-two week low of $83.34 and a fifty-two week high of $126.43. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.32 and a current ratio of 2.35. The company has a market cap of $1.57 trillion, a P/E ratio of 27.50, a price-to-earnings-growth ratio of 1.54 and a beta of 1.10.

Alphabet (NASDAQ:GOOGL – Get Rating) last posted its quarterly earnings results on Tuesday, April 25th. The information services provider reported $1.17 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.11. Alphabet had a return on equity of 22.84% and a net margin of 20.58%. The business had revenue of $69.79 billion for the quarter, compared to the consensus estimate of $57.19 billion. During the same period in the prior year, the business earned $1.23 EPS. On average, research analysts expect that Alphabet Inc. will post 5.41 earnings per share for the current fiscal year.

About Alphabet

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Alphabet, Inc engages in the business of delivering online advertising, cloud-based solutions that provide enterprise customers with infrastructure and platform services, the provision of communication and collaboration tools, and sales of other products and services such as apps and in-app purchases, hardware, and subscription-based products.