TIAA Trust National Association Has $153.15 Million Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Key Points

• TIAA Trust National Association has reduced its holdings in Alphabet Inc. by 5.7%, owning 990,347 shares valued at approximately $153.15 million as of the end of the first quarter.
• Recent analyst upgrades have increased price targets for Alphabet, with Cantor Fitzgerald and Citigroup raising theirs to $201.00 and $225.00, respectively, reflecting a generally positive outlook on the stock.
• Alphabet has announced a quarterly dividend of $0.21, set to be paid on September 15th, representing an annual yield of 0.4%.

TIAA Trust National Association reduced its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 5.7% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 990,347 shares of the information services provider's stock after selling 60,176 shares during the period. TIAA Trust National Association's holdings in Alphabet were worth $153,147,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GOOGL. Guardian Wealth Management Inc. increased its stake in shares of Alphabet by 242.9% in the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock valued at $26,000 after buying an additional 119 shares during the period. IMA Advisory Services Inc. bought a new stake in Alphabet during the 1st quarter worth about $28,000. von Borstel & Associates Inc. bought a new stake in Alphabet during the 1st quarter worth about $28,000. Financial Gravity Asset Management Inc. acquired a new position in Alphabet during the 1st quarter valued at about $39,000. Finally, Anderson Financial Strategies LLC bought a new position in shares of Alphabet in the 4th quarter valued at about $49,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

GOOGL has been the subject of a number of recent research reports. Cantor Fitzgerald increased their price objective on shares of Alphabet from $196.00 to $201.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. Morgan Stanley increased their price target on Alphabet from $185.00 to $205.00 and gave the company an "overweight" rating in a research note on Monday, July 21st. Wedbush upped their price objective on Alphabet from $200.00 to $225.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. Loop Capital restated a "hold" rating and set a $190.00 target price (up previously from $165.00) on shares of Alphabet in a report on Tuesday. Finally, Citigroup upped their price target on Alphabet from $203.00 to $225.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Ten research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $211.53.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director John L. Hennessy sold 400 shares of the stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $181.98, for a total transaction of $72,792.00. Following the transaction, the director owned 6,013 shares in the company, valued at $1,094,245.74. This represents a 6.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $196.23, for a total transaction of $6,377,475.00. Following the transaction, the chief executive officer directly owned 2,494,892 shares in the company, valued at $489,572,657.16. This represents a 1.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 273,219 shares of company stock worth $49,474,273 over the last quarter. Company insiders own 11.64% of the company's stock.

Alphabet Trading Up 2.5%

Shares of NASDAQ:GOOGL opened at $201.42 on Friday. The stock has a market cap of $2.44 trillion, a PE ratio of 21.45, a P/E/G ratio of 1.33 and a beta of 1.01. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $207.05. The business has a 50 day moving average of $180.89 and a 200-day moving average of $173.15.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating analysts' consensus estimates of $2.15 by $0.16. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. The firm had revenue of $96,428,000 billion for the quarter, compared to analyst estimates of $93.60 billion. As a group, equities research analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be paid a $0.21 dividend. The ex-dividend date is Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.4%. Alphabet's 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.

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