Tennessee Valley Asset Management Partners Boosts Stake in Alphabet Inc. (NASDAQ:GOOGL)

Tennessee Valley Asset Management Partners raised its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 71.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,621 shares of the information services provider's stock after acquiring an additional 1,514 shares during the quarter. Tennessee Valley Asset Management Partners' holdings in Alphabet were worth $560,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Compass Planning Associates Inc acquired a new stake in shares of Alphabet in the 4th quarter worth $30,000. PayPay Securities Corp boosted its position in shares of Alphabet by 36.1% in the 4th quarter. PayPay Securities Corp now owns 245 shares of the information services provider's stock worth $46,000 after purchasing an additional 65 shares in the last quarter. Anderson Financial Strategies LLC acquired a new stake in shares of Alphabet in the 4th quarter worth $49,000. Navigoe LLC acquired a new stake in shares of Alphabet in the 4th quarter worth $51,000. Finally, Prudent Man Investment Management Inc. acquired a new stake in shares of Alphabet in the 4th quarter worth $53,000. Institutional investors own 40.03% of the company's stock.

Alphabet Price Performance

NASDAQ GOOGL traded down $6.68 during trading hours on Friday, reaching $166.64. The company's stock had a trading volume of 75,073,701 shares, compared to its average volume of 30,699,179. The firm has a market capitalization of $2.02 trillion, a price-to-earnings ratio of 18.58, a P/E/G ratio of 1.11 and a beta of 1.01. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $207.05. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77. The company's 50-day moving average is $164.77 and its two-hundred day moving average is $174.71.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping analysts' consensus estimates of $2.02 by $0.79. The company had revenue of $76.49 billion during the quarter, compared to analysts' expectations of $89.30 billion. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. During the same quarter in the prior year, the firm posted $1.89 EPS. On average, equities analysts predict that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were paid a dividend of $0.21 per share. This is a positive change from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 0.50%. The ex-dividend date of this dividend was Monday, June 9th. Alphabet's payout ratio is 9.36%.

Analysts Set New Price Targets

GOOGL has been the subject of a number of research analyst reports. Morgan Stanley reduced their target price on Alphabet from $210.00 to $185.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. DA Davidson reduced their target price on Alphabet from $200.00 to $160.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Truist Financial reduced their target price on Alphabet from $220.00 to $200.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. Cantor Fitzgerald reduced their target price on Alphabet from $200.00 to $159.00 and set a "neutral" rating for the company in a research note on Wednesday, April 16th. Finally, Citigroup raised their target price on Alphabet from $195.00 to $200.00 and gave the stock a "buy" rating in a research note on Friday, April 25th. Ten research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat.com, Alphabet presently has an average rating of "Moderate Buy" and an average target price of $199.75.

Insiders Place Their Bets

In other news, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total value of $5,153,200.00. Following the completion of the sale, the chief executive officer now directly owns 2,717,696 shares in the company, valued at $430,917,877.76. This represents a 1.18% 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, CAO Amie Thuener O'toole sold 673 shares of the company's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $155.33, for a total value of $104,537.09. Following the completion of the sale, the chief accounting officer now owns 15,303 shares of the company's stock, valued at $2,377,014.99. This trade represents a 4.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 228,070 shares of company stock worth $37,745,632. Corporate insiders own 11.64% of the company's stock.

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.