TFB Advisors LLC Lowers Stake in Alphabet Inc. $GOOG

TFB Advisors LLC reduced its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 4.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,464 shares of the information services provider’s stock after selling 312 shares during the period. TFB Advisors LLC’s holdings in Alphabet were worth $1,166,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of GOOG. Nuveen LLC bought a new stake in Alphabet during the 1st quarter valued at about $2,622,943,000. GAMMA Investing LLC grew its stake in shares of Alphabet by 18,562.3% in the first quarter. GAMMA Investing LLC now owns 14,323,323 shares of the information services provider’s stock worth $2,237,733,000 after acquiring an additional 14,246,573 shares during the period. Vanguard Group Inc. grew its stake in shares of Alphabet by 2.4% in the first quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider’s stock worth $64,299,725,000 after acquiring an additional 9,687,855 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Alphabet by 9.9% in the first quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider’s stock worth $15,971,861,000 after acquiring an additional 9,243,959 shares during the period. Finally, Northern Trust Corp grew its stake in shares of Alphabet by 16.1% in the fourth quarter. Northern Trust Corp now owns 57,098,042 shares of the information services provider’s stock worth $10,873,751,000 after acquiring an additional 7,917,625 shares during the period. 27.26% of the stock is currently owned by institutional investors.

Alphabet Price Performance

Shares of NASDAQ:GOOG opened at $202.49 on Wednesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $208.70. The company has a market capitalization of $2.45 trillion, a P/E ratio of 21.56, a P/E/G ratio of 1.38 and a beta of 1.02. The firm’s 50 day simple moving average is $186.19 and its two-hundred day simple moving average is $174.71.

Alphabet (NASDAQ:GOOG) last released its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping the consensus estimate of $2.12 by $0.19. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The firm had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.67 billion. During the same quarter in the previous year, the firm earned $1.89 earnings per share. The company’s quarterly revenue was up 13.8% compared to the same quarter last year. Research analysts expect that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.4%. The ex-dividend date is Monday, September 8th. Alphabet’s payout ratio is currently 8.95%.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director John L. Hennessy sold 600 shares of the business’s stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $203.79, for a total transaction of $122,274.00. Following the transaction, the director owned 6,316 shares in the company, valued at $1,287,137.64. The trade was a 8.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider John Kent Walker sold 23,820 shares of the company’s stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the transaction, the insider owned 42,999 shares in the company, valued at approximately $8,371,905.30. The trade was a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 242,319 shares of company stock worth $44,243,272. Company insiders own 12.99% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOG has been the subject of a number of research analyst reports. Wells Fargo & Company reiterated an “equal weight” rating on shares of Alphabet in a research note on Wednesday, July 9th. Citigroup reiterated a “sell” rating on shares of Alphabet in a research note on Wednesday, April 23rd. Pivotal Research lifted their price target on shares of Alphabet from $225.00 to $245.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. The Goldman Sachs Group reiterated a “buy” rating and issued a $220.00 price target on shares of Alphabet in a research note on Monday, June 2nd. Finally, Citizens Jmp upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Thursday, June 26th. Five research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, six have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $215.19.

Alphabet Company 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.