Tcfg Wealth Management LLC Boosts Stock Position in Alphabet Inc. $GOOGL

Tcfg Wealth Management LLC raised its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 29.2% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,209 shares of the information services provider’s stock after purchasing an additional 2,308 shares during the quarter. Alphabet accounts for 0.8% of Tcfg Wealth Management LLC’s portfolio, making the stock its 24th largest position. Tcfg Wealth Management LLC’s holdings in Alphabet were worth $1,799,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in GOOGL. Brighton Jones LLC lifted its holdings in shares of Alphabet by 3.9% in the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock valued at $20,886,000 after buying an additional 4,110 shares during the period. Revolve Wealth Partners LLC lifted its holdings in shares of Alphabet by 3.5% in the 4th quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock valued at $2,826,000 after buying an additional 506 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Alphabet by 10.5% in the 1st quarter. GAMMA Investing LLC now owns 103,870 shares of the information services provider’s stock valued at $16,062,000 after buying an additional 9,900 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Alphabet by 4.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 2,508,914 shares of the information services provider’s stock valued at $387,979,000 after buying an additional 106,082 shares during the period. Finally, Traphagen Investment Advisors LLC lifted its holdings in shares of Alphabet by 5.3% in the 1st quarter. Traphagen Investment Advisors LLC now owns 10,860 shares of the information services provider’s stock valued at $1,679,000 after buying an additional 543 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on GOOGL shares. Moffett Nathanson boosted their price objective on Alphabet from $230.00 to $295.00 and gave the company a “buy” rating in a report on Thursday, September 25th. Wells Fargo & Company set a $236.00 price objective on Alphabet and gave the company an “equal weight” rating in a report on Tuesday, October 7th. Truist Financial upped their price target on Alphabet from $225.00 to $285.00 and gave the stock a “buy” rating in a report on Monday, September 22nd. Needham & Company LLC upped their price target on Alphabet from $220.00 to $260.00 and gave the stock a “buy” rating in a report on Wednesday, September 3rd. Finally, JMP Securities upped their price target on Alphabet from $250.00 to $290.00 and gave the stock a “market outperform” rating in a report on Friday, September 19th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and an average target price of $249.26.

Insiders Place Their Bets

In other news, CAO Amie Thuener O’toole sold 953 shares of the company’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $241.20, for a total value of $229,863.60. Following the completion of the sale, the chief accounting officer directly owned 17,294 shares in the company, valued at $4,171,312.80. This represents a 5.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $243.41, for a total value of $7,910,825.00. Following the completion of the sale, the chief executive officer owned 2,402,119 shares of the company’s stock, valued at $584,699,785.79. This trade represents a 1.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 244,438 shares of company stock valued at $53,216,085. Insiders own 11.64% of the company’s stock.

Alphabet Price Performance

Shares of Alphabet stock opened at $251.03 on Thursday. The business has a 50 day simple moving average of $229.41 and a two-hundred day simple moving average of $190.28. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $256.00. The stock has a market capitalization of $3.04 trillion, a P/E ratio of 26.73, a PEG ratio of 1.66 and a beta of 1.00. 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 (NASDAQ:GOOGL) last posted its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.15 by $0.16. The business had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. As a group, analysts predict that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were given a $0.21 dividend. The ex-dividend date was Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet’s dividend payout ratio is 8.95%.

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.