TCTC Holdings LLC Boosts Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

TCTC Holdings LLC raised its holdings in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 1,911.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 53,048 shares of the information services provider’s stock after buying an additional 50,411 shares during the quarter. TCTC Holdings LLC’s holdings in Alphabet were worth $5,074,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Massachusetts Financial Services Co. MA boosted its holdings in shares of Alphabet by 1,955.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 61,134,061 shares of the information services provider’s stock valued at $5,847,474,000 after buying an additional 58,159,150 shares during the period. Fisher Asset Management LLC boosted its holdings in shares of Alphabet by 1,928.6% in the 3rd quarter. Fisher Asset Management LLC now owns 42,474,883 shares of the information services provider’s stock valued at $4,062,723,000 after buying an additional 40,381,114 shares during the period. Jennison Associates LLC boosted its holdings in shares of Alphabet by 1,690.3% in the 3rd quarter. Jennison Associates LLC now owns 26,231,920 shares of the information services provider’s stock valued at $2,509,083,000 after buying an additional 24,766,730 shares during the period. Alecta Tjanstepension Omsesidigt boosted its holdings in shares of Alphabet by 1,900.0% in the 3rd quarter. Alecta Tjanstepension Omsesidigt now owns 19,286,000 shares of the information services provider’s stock valued at $1,845,092,000 after buying an additional 18,321,700 shares during the period. Finally, Barclays PLC boosted its holdings in shares of Alphabet by 2,462.1% in the 3rd quarter. Barclays PLC now owns 18,694,427 shares of the information services provider’s stock valued at $1,788,124,000 after buying an additional 17,964,785 shares during the period. 34.06% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Alphabet

In other news, SVP Prabhakar Raghavan sold 22,203 shares of the firm’s stock in a transaction dated Tuesday, January 3rd. The stock was sold at an average price of $89.75, for a total transaction of $1,992,719.25. Following the sale, the senior vice president now owns 76,579 shares of the company’s stock, valued at $6,872,965.25. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, SVP Prabhakar Raghavan sold 22,203 shares of Alphabet stock in a transaction that occurred on Tuesday, January 3rd. The stock was sold at an average price of $89.75, for a total value of $1,992,719.25. Following the sale, the senior vice president now owns 76,579 shares of the company’s stock, valued at approximately $6,872,965.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 637 shares of the firm’s stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $90.15, for a total transaction of $57,425.55. Following the completion of the transaction, the chief accounting officer now directly owns 25,442 shares of the company’s stock, valued at $2,293,596.30. The disclosure for this sale can be found here. Insiders have sold a total of 36,745 shares of company stock valued at $3,424,078 over the last 90 days. 11.44% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

GOOGL has been the topic of several recent research reports. Barclays lifted their price objective on shares of Alphabet from $150.00 to $160.00 and gave the company an “overweight” rating in a research report on Friday, February 3rd. Bank of America lifted their price objective on shares of Alphabet from $116.00 to $119.00 and gave the company a “buy” rating in a research report on Tuesday, January 31st. Jefferies Financial Group reiterated a “buy” rating and issued a $130.00 price objective on shares of Alphabet in a research report on Friday, February 10th. New Street Research initiated coverage on shares of Alphabet in a research report on Wednesday, January 4th. They set a “buy” rating and a $118.00 price target on the stock. Finally, Roth Capital restated a “buy” rating on shares of Alphabet in a research report on Friday, February 3rd. Five investment analysts have rated the stock with a hold rating, thirty-three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $132.32.

Alphabet Price Performance

Shares of GOOGL opened at $92.00 on Friday. The company has a current ratio of 2.38, a quick ratio of 2.34 and a debt-to-equity ratio of 0.06. Alphabet Inc. has a 1 year low of $83.34 and a 1 year high of $143.79. The stock has a market cap of $1.18 trillion, a P/E ratio of 20.22, a price-to-earnings-growth ratio of 1.24 and a beta of 1.09. The stock’s 50-day moving average price is $93.57 and its two-hundred day moving average price is $97.91.

Alphabet (NASDAQ:GOOGL – Get Rating) last released its quarterly earnings results on Thursday, February 2nd. The information services provider reported $1.05 EPS for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.09). The business had revenue of $76.05 billion for the quarter, compared to analyst estimates of $63.15 billion. Alphabet had a return on equity of 23.54% and a net margin of 21.20%. During the same period in the prior year, the business earned $1.53 EPS. On average, equities analysts predict that Alphabet Inc. will post 5.12 earnings per share for the current year.

About Alphabet

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Alphabet, Inc engages in the business of delivering online advertising, cloud-based solutions that provide enterprise customers with infrastructure and platform services, the provision of communication and collaboration tools, and sales of other products and services such as apps and in-app purchases, hardware, and subscription-based products.