Alphabet Inc. (NASDAQ:GOOG) Stake Lifted by TFC Financial Management

TFC Financial Management increased its stake in shares of Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 1,666.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,020 shares of the information services provider’s stock after buying an additional 2,849 shares during the quarter. TFC Financial Management’s holdings in Alphabet were worth $290,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in GOOG. Beaird Harris Wealth Management LLC lifted its holdings in shares of Alphabet by 6.9% during the first quarter. Beaird Harris Wealth Management LLC now owns 93 shares of the information services provider’s stock valued at $260,000 after purchasing an additional 6 shares during the last quarter. Wedge Capital Management L L P NC lifted its holdings in shares of Alphabet by 0.6% during the second quarter. Wedge Capital Management L L P NC now owns 964 shares of the information services provider’s stock valued at $2,109,000 after purchasing an additional 6 shares during the last quarter. Ignite Planners LLC lifted its holdings in shares of Alphabet by 4.7% during the second quarter. Ignite Planners LLC now owns 134 shares of the information services provider’s stock valued at $320,000 after purchasing an additional 6 shares during the last quarter. Financial Advisors Network Inc. raised its position in Alphabet by 4.5% during the first quarter. Financial Advisors Network Inc. now owns 161 shares of the information services provider’s stock valued at $450,000 after buying an additional 7 shares during the period. Finally, Blue Zone Wealth Advisors LLC raised its position in Alphabet by 2.6% during the second quarter. Blue Zone Wealth Advisors LLC now owns 281 shares of the information services provider’s stock valued at $615,000 after buying an additional 7 shares during the period. 28.69% of the stock is currently owned by institutional investors.

Alphabet Price Performance

Shares of NASDAQ:GOOG opened at $88.16 on Monday. The business has a 50 day moving average price of $92.98 and a 200 day moving average price of $103.53. Alphabet Inc. has a twelve month low of $83.45 and a twelve month high of $152.10. The company has a market cap of $1.14 trillion, a price-to-earnings ratio of 17.51, a PEG ratio of 1.54 and a beta of 1.08. The company has a quick ratio of 2.47, a current ratio of 2.52 and a debt-to-equity ratio of 0.06.

Alphabet (NASDAQ:GOOG – Get Rating) last announced its earnings results on Tuesday, October 25th. The information services provider reported $1.06 earnings per share for the quarter, missing the consensus estimate of $1.25 by ($0.19). Alphabet had a net margin of 23.75% and a return on equity of 26.41%. The business had revenue of $69.09 billion for the quarter, compared to the consensus estimate of $70.67 billion. During the same quarter in the previous year, the company earned $1.40 EPS. Alphabet’s revenue for the quarter was up 6.1% compared to the same quarter last year. Research analysts predict that Alphabet Inc. will post 4.68 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently weighed in on GOOG shares. JPMorgan Chase & Co. set a $115.00 price target on Alphabet in a research report on Wednesday, October 26th. Cowen dropped their price target on Alphabet from $150.00 to $135.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 26th. Jefferies Financial Group set a $125.00 price target on Alphabet in a research report on Wednesday, October 26th. Raymond James dropped their target price on Alphabet from $143.00 to $120.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 26th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on Alphabet from $135.00 to $130.00 and set a “buy” rating on the stock in a research report on Friday, October 21st. One equities research analyst has rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $144.43.

Insider Activity at Alphabet

In other Alphabet news, Director Ann Mather sold 280 shares of the firm’s stock in a transaction that occurred on Tuesday, October 25th. The stock was sold at an average price of $103.23, for a total value of $28,904.40. Following the completion of the sale, the director now owns 11,200 shares in the company, valued at approximately $1,156,176. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Alphabet news, Director Ann Mather sold 280 shares of the firm’s stock in a transaction that occurred on Tuesday, October 25th. The stock was sold at an average price of $103.23, for a total value of $28,904.40. Following the completion of the sale, the director now owns 11,200 shares in the company, valued at approximately $1,156,176. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 855 shares of the firm’s stock in a transaction that occurred on Wednesday, November 2nd. The stock was sold at an average price of $90.85, for a total value of $77,676.75. Following the completion of the sale, the chief accounting officer now owns 24,694 shares of the company’s stock, valued at approximately $2,243,449.90. The disclosure for this sale can be found here. In the last 90 days, insiders acquired 1,461,702 shares of company stock worth $36,999,217 and sold 190,744 shares worth $8,564,640. 12.99% of the stock is owned by corporate insiders.

About Alphabet

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Alphabet Inc provides 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 offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.