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TCW Group Inc. Buys 3,956 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Alphabet logo with Computer and Technology background

Key Points

  • TCW Group Inc. increased its Alphabet Inc. stake by 1.0%, purchasing an additional 3,956 shares, bringing its total holdings to 411,493 shares valued at approximately $63.6 million.
  • Several other institutional investors, including Hudson Value Partners LLC and Brighton Jones LLC, also expanded their positions in Alphabet during the fourth quarter, contributing to a 40.03% institutional ownership of the stock.
  • Alphabet's quarterly dividend of $0.21 per share will be paid to shareholders on September 15th, representing an annualized yield of 0.4% and a payout ratio of 8.95%.
  • Five stocks we like better than Alphabet.

TCW Group Inc. raised its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 1.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 411,493 shares of the information services provider's stock after purchasing an additional 3,956 shares during the quarter. TCW Group Inc.'s holdings in Alphabet were worth $63,633,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Eagle Capital Management LLC boosted its position in shares of Alphabet by 0.7% during the fourth quarter. Eagle Capital Management LLC now owns 50,132 shares of the information services provider's stock valued at $9,490,000 after purchasing an additional 371 shares in the last quarter. Brighton Jones LLC raised its holdings in Alphabet by 3.9% in the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider's stock worth $20,886,000 after purchasing an additional 4,110 shares in the last quarter. Revolve Wealth Partners LLC lifted its position in Alphabet by 3.5% during the fourth 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. Highview Capital Management LLC DE boosted its holdings in shares of Alphabet by 3.6% during the 4th quarter. Highview Capital Management LLC DE now owns 29,100 shares of the information services provider's stock valued at $5,509,000 after buying an additional 1,003 shares in the last quarter. Finally, Hudson Value Partners LLC grew its position in shares of Alphabet by 22.7% in the 4th quarter. Hudson Value Partners LLC now owns 73,282 shares of the information services provider's stock worth $13,873,000 after buying an additional 13,564 shares during the period. 40.03% of the stock is currently owned by institutional investors.

Insider Activity at Alphabet

In other news, Director Kavitark Ram Shriram sold 18,566 shares of the company's stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the sale, the director directly owned 243,400 shares of the company's stock, valued at $45,213,984. This represents a 7.09% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total value of $5,801,900.00. Following the transaction, the chief executive officer owned 2,559,892 shares of the company's stock, valued at $456,991,919.84. This represents a 1.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 249,399 shares of company stock valued at $43,525,794 in the last 90 days. 11.55% of the stock is currently owned by company insiders.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $189.13 on Monday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The firm has a market cap of $2.29 trillion, a price-to-earnings ratio of 20.14, a P/E/G ratio of 1.28 and a beta of 1.01. The firm has a fifty day moving average price of $178.32 and a 200 day moving average price of $172.82. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $207.05.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.4%. The ex-dividend date is Monday, September 8th. Alphabet's dividend payout ratio (DPR) is currently 8.95%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. JPMorgan Chase & Co. increased their price target on shares of Alphabet from $200.00 to $232.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Sanford C. Bernstein raised their target price on shares of Alphabet from $185.00 to $195.00 and gave the company a "market perform" rating in a research note on Tuesday, July 22nd. Oppenheimer lifted their target price on shares of Alphabet from $185.00 to $200.00 and gave the company an "outperform" rating in a report on Friday, April 25th. Needham & Company LLC boosted their price target on Alphabet from $210.00 to $220.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Finally, BMO Capital Markets upped their price target on Alphabet from $208.00 to $225.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $211.39.

Check Out Our Latest Research Report on GOOGL

About Alphabet

(Free Report)

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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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