Tennessee Valley Asset Management Partners Has $2.26 Million Stake in Alphabet Inc. (NASDAQ:GOOG)

Tennessee Valley Asset Management Partners raised its stake in Alphabet Inc. (NASDAQ:GOOG) by 24.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,294 shares of the information services provider’s stock after acquiring an additional 2,409 shares during the period. Tennessee Valley Asset Management Partners’ holdings in Alphabet were worth $2,255,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. JPMorgan Chase & Co. raised its stake in shares of Alphabet by 19.7% in the first quarter. JPMorgan Chase & Co. now owns 84,171,721 shares of the information services provider’s stock valued at $12,815,986,000 after acquiring an additional 13,876,534 shares during the last quarter. Swedbank AB acquired a new stake in Alphabet during the 1st quarter valued at $1,378,708,000. Capital International Investors increased its holdings in Alphabet by 9.3% during the 1st quarter. Capital International Investors now owns 87,716,562 shares of the information services provider’s stock valued at $13,355,724,000 after purchasing an additional 7,470,042 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Alphabet by 51.8% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 6,416,150 shares of the information services provider’s stock valued at $976,923,000 after purchasing an additional 2,190,795 shares during the last quarter. Finally, Vima LLC boosted its stake in Alphabet by 178,253.1% in the first quarter. Vima LLC now owns 2,001,122 shares of the information services provider’s stock worth $304,691,000 after purchasing an additional 2,000,000 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Rosenblatt Securities lowered Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price for the company. in a research note on Friday, June 28th. DA Davidson raised shares of Alphabet to a “hold” rating in a research note on Tuesday, September 10th. Cantor Fitzgerald upgraded shares of Alphabet to a “hold” rating in a research report on Thursday, September 5th. Oppenheimer raised their price target on shares of Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Finally, Wolfe Research raised Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $182.86.

Alphabet Trading Up 0.4 %

Shares of NASDAQ GOOG opened at $158.99 on Tuesday. Alphabet Inc. has a fifty-two week low of $121.46 and a fifty-two week high of $193.31. The firm has a market capitalization of $1.96 trillion, a P/E ratio of 24.39, a P/E/G ratio of 1.13 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. The company’s 50 day simple moving average is $168.43 and its 200 day simple moving average is $166.48.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The company had revenue of $84.74 billion for the quarter, compared to the consensus estimate of $84.22 billion. During the same quarter in the prior year, the business posted $1.44 EPS. The firm’s quarterly revenue was up 13.6% on a year-over-year basis. On average, analysts predict that Alphabet Inc. will post 7.63 EPS for the current year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date of this dividend was Monday, September 9th. Alphabet’s dividend payout ratio is currently 12.27%.

Insider Buying and Selling at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $177.40, for a total value of $3,991,500.00. Following the completion of the transaction, the chief executive officer now owns 2,213,011 shares of the company’s stock, valued at approximately $392,588,151.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $177.40, for a total transaction of $3,991,500.00. Following the sale, the chief executive officer now owns 2,213,011 shares of the company’s stock, valued at $392,588,151.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 2,835 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total value of $429,587.55. Following the completion of the transaction, the chief accounting officer now owns 29,182 shares of the company’s stock, valued at $4,421,948.46. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 202,667 shares of company stock valued at $34,341,581. 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.