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TFR Capital LLC. Increases Position in Alphabet Inc. (NASDAQ:GOOG)

Alphabet logo with Computer and Technology background

TFR Capital LLC. increased its stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 8.9% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 31,036 shares of the information services provider's stock after acquiring an additional 2,549 shares during the period. Alphabet comprises approximately 2.0% of TFR Capital LLC.'s portfolio, making the stock its 12th largest position. TFR Capital LLC.'s holdings in Alphabet were worth $4,849,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Principia Wealth Advisory LLC grew its position in Alphabet by 111.8% in the first quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock worth $26,000 after acquiring an additional 85 shares in the last quarter. MorganRosel Wealth Management LLC purchased a new position in Alphabet in the first quarter worth $26,000. LSV Asset Management purchased a new stake in Alphabet during the fourth quarter valued at about $27,000. Goodman Advisory Group LLC purchased a new stake in Alphabet during the first quarter valued at about $32,000. Finally, WealthTrak Capital Management LLC purchased a new stake in Alphabet during the fourth quarter valued at about $38,000. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Wells Fargo & Company restated an "equal weight" rating on shares of Alphabet in a research report on Wednesday. Citizens Jmp upgraded shares of Alphabet from a "hold" rating to a "strong-buy" rating in a research report on Thursday, June 26th. Oppenheimer restated an "outperform" rating and set a $220.00 price target (up from $200.00) on shares of Alphabet in a research report on Wednesday, July 9th. Barclays restated a "buy" rating on shares of Alphabet in a research report on Wednesday. Finally, Lake Street Capital restated a "buy" rating on shares of Alphabet in a research report on Wednesday. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating, eighteen have assigned a buy rating and six have assigned a strong buy rating to the company. According to data from MarketBeat.com, Alphabet has an average rating of "Moderate Buy" and a consensus price target of $207.13.

Check Out Our Latest Stock Report on Alphabet

Alphabet Trading Up 0.3%

GOOG stock traded up $0.60 during trading on Monday, reaching $181.91. The company had a trading volume of 9,627,047 shares, compared to its average volume of 21,404,650. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $208.70. The company has a market cap of $2.21 trillion, a P/E ratio of 20.28, a PEG ratio of 1.27 and a beta of 1.01. The business has a 50 day moving average of $171.50 and a 200 day moving average of $174.76. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77.

Alphabet (NASDAQ:GOOG - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.02 by $0.79. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The company had revenue of $90.23 billion during the quarter, compared to the consensus estimate of $89.30 billion. During the same period in the prior year, the firm earned $1.89 earnings per share. Alphabet's revenue was up 12.0% on a year-over-year basis. As a group, sell-side analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were paid a $0.21 dividend. This is an increase from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date of this dividend was Monday, June 9th. Alphabet's dividend payout ratio is presently 9.36%.

Insider Buying and Selling

In other Alphabet news, Director John L. Hennessy sold 600 shares of the company's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $105,000.00. Following the sale, the director owned 6,813 shares in the company, valued at approximately $1,192,275. This represents a 8.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total transaction of $5,801,900.00. Following the completion of the sale, the chief executive officer owned 2,559,892 shares in the company, valued at approximately $456,991,919.84. This trade represents a 1.25% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 215,443 shares of company stock valued at $36,298,548 over the last three months. Corporate insiders own 12.99% of the company's stock.

Alphabet Profile

(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.

See Also

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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