Alphabet Inc. (NASDAQ:GOOG) Stock Holdings Lessened by TCTC Holdings LLC

TCTC Holdings LLC trimmed its stake in Alphabet Inc. (NASDAQ:GOOG) by 0.1% in the fourth quarter, Holdings Channel.com reports. The firm owned 281,054 shares of the information services provider’s stock after selling 269 shares during the quarter. Alphabet comprises 1.9% of TCTC Holdings LLC’s portfolio, making the stock its 11th largest holding. TCTC Holdings LLC’s holdings in Alphabet were worth $53,524,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in the stock. Signaturefd LLC lifted its position in shares of Alphabet by 22.9% in the fourth quarter. Signaturefd LLC now owns 72,267 shares of the information services provider’s stock worth $13,763,000 after purchasing an additional 13,481 shares in the last quarter. Parallel Advisors LLC raised its position in Alphabet by 9.8% during the fourth quarter. Parallel Advisors LLC now owns 322,015 shares of the information services provider’s stock valued at $61,325,000 after acquiring an additional 28,646 shares in the last quarter. SouthState Corp raised its position in Alphabet by 6.3% during the fourth quarter. SouthState Corp now owns 139,575 shares of the information services provider’s stock valued at $26,581,000 after acquiring an additional 8,214 shares in the last quarter. Addison Capital Co raised its position in Alphabet by 3.3% during the fourth quarter. Addison Capital Co now owns 3,206 shares of the information services provider’s stock valued at $611,000 after acquiring an additional 102 shares in the last quarter. Finally, Creative Financial Designs Inc. ADV raised its position in Alphabet by 5.1% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 8,448 shares of the information services provider’s stock valued at $1,609,000 after acquiring an additional 410 shares in the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GOOG has been the topic of a number of recent analyst reports. Needham & Company LLC reissued a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. Oppenheimer lifted their price target on shares of Alphabet from $215.00 to $225.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Scotiabank lifted their price target on shares of Alphabet from $212.00 to $240.00 and gave the company a “sector outperform” rating in a research report on Friday, January 24th. The Goldman Sachs Group reissued a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. Finally, Benchmark reissued a “negative” rating on shares of Alphabet in a research report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $209.13.

Insiders Place Their Bets

In other Alphabet news, insider Ruth Porat sold 17,690 shares of Alphabet stock in a transaction on Friday, February 21st. The stock was sold at an average price of $183.48, for a total transaction of $3,245,761.20. Following the completion of the transaction, the insider now directly owns 1,449,286 shares of the company’s stock, valued at approximately $265,914,995.28. This trade represents a 1.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John Kent Walker sold 16,820 shares of Alphabet stock in a transaction on Monday, December 30th. The shares were sold at an average price of $192.62, for a total value of $3,239,868.40. Following the transaction, the insider now directly owns 43,981 shares of the company’s stock, valued at approximately $8,471,620.22. The trade was a 27.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 93,048 shares of company stock worth $17,374,274 over the last 90 days. Corporate insiders own 12.99% of the company’s stock.

Alphabet Stock Up 1.8 %

GOOG opened at $167.62 on Monday. Alphabet Inc. has a fifty-two week low of $141.13 and a fifty-two week high of $208.70. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The firm’s fifty day moving average price is $187.41 and its two-hundred day moving average price is $178.10. The company has a market capitalization of $2.04 trillion, a P/E ratio of 20.82, a P/E/G ratio of 1.34 and a beta of 1.03.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. On average, analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a yield of 0.48%. Alphabet’s dividend payout ratio is currently 9.94%.

About Alphabet

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.