Tcfg Wealth Management LLC Acquires 63,387 Shares of Alphabet Inc. $GOOGL

Tcfg Wealth Management LLC boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 620.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 73,596 shares of the information services provider’s stock after acquiring an additional 63,387 shares during the quarter. Alphabet accounts for 1.5% of Tcfg Wealth Management LLC’s portfolio, making the stock its 14th biggest holding. Tcfg Wealth Management LLC’s holdings in Alphabet were worth $17,891,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of GOOGL. Vertex Planning Partners LLC lifted its position in shares of Alphabet by 5.7% during the third quarter. Vertex Planning Partners LLC now owns 4,055 shares of the information services provider’s stock worth $986,000 after purchasing an additional 220 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in shares of Alphabet by 2.3% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 558,275 shares of the information services provider’s stock valued at $135,694,000 after purchasing an additional 12,800 shares during the period. Corus Family Wealth Advisors grew its holdings in shares of Alphabet by 13.2% in the third quarter. Corus Family Wealth Advisors now owns 1,889 shares of the information services provider’s stock worth $459,000 after purchasing an additional 221 shares during the last quarter. U S Wealth Group LLC. grew its holdings in shares of Alphabet by 43.4% in the third quarter. U S Wealth Group LLC. now owns 39,241 shares of the information services provider’s stock worth $9,539,000 after purchasing an additional 11,873 shares during the last quarter. Finally, Hancock Whitney Corp increased its stake in Alphabet by 2.3% in the 3rd quarter. Hancock Whitney Corp now owns 429,212 shares of the information services provider’s stock worth $104,341,000 after buying an additional 9,771 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Activity at Alphabet

In other Alphabet news, Director Frances Arnold sold 112 shares of the stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $302.99, for a total transaction of $33,934.88. Following the completion of the sale, the director directly owned 18,418 shares of the company’s stock, valued at approximately $5,580,469.82. This represents a 0.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $303.38, for a total transaction of $9,859,850.00. Following the completion of the sale, the chief executive officer owned 1,674,560 shares in the company, valued at $508,028,012.80. This represents a 1.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 2,076,615 shares of company stock valued at $107,809,111 over the last 90 days. Company insiders own 11.55% of the company’s stock.

Alphabet Stock Performance

Shares of NASDAQ:GOOGL opened at $310.92 on Wednesday. The company has a market capitalization of $3.76 trillion, a price-to-earnings ratio of 28.76, a price-to-earnings-growth ratio of 1.79 and a beta of 1.10. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $349.00. The company has a quick ratio of 2.01, a current ratio of 2.01 and a debt-to-equity ratio of 0.11. The firm has a 50 day moving average of $318.83 and a 200 day moving average of $291.74.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Wednesday, February 4th. The information services provider reported $2.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.57 by $0.25. Alphabet had a return on equity of 35.01% and a net margin of 32.81%.The business had revenue of $113.83 billion for the quarter, compared to analysts’ expectations of $111.24 billion. On average, sell-side analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Monday, March 9th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, March 9th. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is presently 7.77%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on GOOGL shares. The Goldman Sachs Group reiterated a “buy” rating and set a $375.00 price objective (up from $330.00) on shares of Alphabet in a report on Tuesday, January 13th. Jefferies Financial Group upped their target price on shares of Alphabet from $365.00 to $400.00 and gave the stock a “buy” rating in a research note on Monday, February 2nd. Royal Bank Of Canada raised their target price on shares of Alphabet from $375.00 to $400.00 and gave the stock an “outperform” rating in a research report on Thursday, February 5th. HSBC boosted their price target on Alphabet from $335.00 to $370.00 and gave the company a “buy” rating in a report on Tuesday, December 2nd. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Alphabet in a research note on Wednesday, January 21st. Three investment analysts have rated the stock with a Strong Buy rating, forty-three have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $367.18.

Alphabet Profile

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.