TIAA Trust National Association Has $62.79 Million Holdings in Alphabet Inc. (NASDAQ:GOOG)

TIAA Trust National Association cut its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 329,714 shares of the information services provider’s stock after selling 4,892 shares during the period. TIAA Trust National Association’s holdings in Alphabet were worth $62,792,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Weiss Asset Management LP acquired a new stake in Alphabet in the third quarter valued at approximately $25,000. Fiduciary Advisors Inc. bought a new position in shares of Alphabet during the 4th quarter valued at $27,000. Safe Harbor Fiduciary LLC acquired a new stake in shares of Alphabet in the 3rd quarter valued at $33,000. Mountain Hill Investment Partners Corp. bought a new stake in Alphabet in the fourth quarter worth $39,000. Finally, Noble Wealth Management PBC acquired a new position in Alphabet during the fourth quarter worth $43,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Trading Up 2.2 %

Shares of Alphabet stock opened at $169.93 on Tuesday. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $2.07 trillion, a P/E ratio of 21.11, a price-to-earnings-growth ratio of 1.34 and a beta of 1.03. Alphabet Inc. has a 12-month low of $148.20 and a 12-month high of $208.70. The company has a 50-day simple moving average of $183.93 and a 200 day simple moving average of $178.30.

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

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were given a $0.20 dividend. The ex-dividend date was Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a yield of 0.47%. Alphabet’s payout ratio is 9.94%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on GOOG. Oppenheimer raised their price target on Alphabet from $215.00 to $225.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Benchmark reiterated a “negative” rating on shares of Alphabet in a report on Wednesday, February 5th. Wedbush restated an “outperform” rating and issued a $220.00 price objective on shares of Alphabet in a research note on Thursday, January 30th. Citizens Jmp cut shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of Alphabet in a report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and a consensus price target of $209.13.

Insider Activity

In other news, insider John Kent Walker sold 16,820 shares of Alphabet stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the completion of the sale, the insider now owns 43,981 shares in the company, valued at $8,471,620.22. The trade was a 27.66 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director John L. Hennessy sold 200 shares of the stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $165.53, for a total transaction of $33,106.00. Following the completion of the transaction, the director now owns 7,813 shares in the company, valued at $1,293,285.89. This represents a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 93,048 shares of company stock valued at $17,374,274. Company insiders own 12.99% of the company’s stock.

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.