Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Tiaa Fsb

Tiaa Fsb cut its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 5.0% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 22,045 shares of the information services provider’s stock after selling 1,164 shares during the period. Tiaa Fsb’s holdings in Alphabet were worth $58,756,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD lifted its position in Alphabet by 5.3% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 13,993,372 shares of the information services provider’s stock worth $35,071,868,000 after acquiring an additional 708,879 shares in the last quarter. FMR LLC raised its position in shares of Alphabet by 1.8% in the 2nd quarter. FMR LLC now owns 8,028,176 shares of the information services provider’s stock valued at $20,121,178,000 after purchasing an additional 144,042 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Alphabet by 0.8% in the 2nd quarter. Geode Capital Management LLC now owns 4,528,294 shares of the information services provider’s stock valued at $11,314,477,000 after purchasing an additional 36,958 shares in the last quarter. Capital International Investors raised its position in shares of Alphabet by 0.9% in the 2nd quarter. Capital International Investors now owns 4,144,906 shares of the information services provider’s stock valued at $10,388,855,000 after purchasing an additional 38,915 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Alphabet by 9.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 3,920,416 shares of the information services provider’s stock valued at $9,825,819,000 after purchasing an additional 326,300 shares in the last quarter. 31.26% of the stock is currently owned by hedge funds and other institutional investors.

A number of brokerages have issued reports on GOOG. Raymond James upped their target price on Alphabet from $3,200.00 to $3,400.00 and gave the company an “outperform” rating in a research report on Wednesday, October 27th. They noted that the move was a valuation call. Piper Sandler boosted their price target on Alphabet from $3,034.00 to $3,150.00 and gave the company an “overweight” rating in a report on Wednesday, October 27th. JPMorgan Chase & Co. upped their price objective on Alphabet from $2,875.00 to $3,250.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 28th. Canaccord Genuity upped their price objective on Alphabet from $2,800.00 to $3,100.00 and gave the stock a “buy” rating in a research note on Wednesday, July 28th. Finally, Royal Bank of Canada started coverage on Alphabet in a research note on Friday, October 1st. They issued an “outperform” rating and a $3,400.00 price target for the company. Two research analysts have rated the stock with a hold rating and thirty-one have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $3,178.21.

In other Alphabet news, CAO Amie Thuener O’toole sold 48 shares of Alphabet stock in a transaction on Wednesday, September 1st. The shares were sold at an average price of $2,913.00, for a total transaction of $139,824.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction on Tuesday, September 7th. The shares were sold at an average price of $3,802.28, for a total transaction of $760,456.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 222,928 shares of company stock valued at $501,867,436. Corporate insiders own 12.99% of the company’s stock.

NASDAQ:GOOG traded down $0.79 during trading hours on Thursday, hitting $2,934.35. 823,203 shares of the company traded hands, compared to its average volume of 1,279,240. The stock has a market capitalization of $1.95 trillion, a price-to-earnings ratio of 28.26, a P/E/G ratio of 1.07 and a beta of 1.04. Alphabet Inc. has a twelve month low of $1,699.00 and a twelve month high of $3,037.00. The firm has a 50-day moving average of $2,859.80 and a 200 day moving average of $2,705.14. The company has a current ratio of 2.98, a quick ratio of 2.96 and a debt-to-equity ratio of 0.06.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Monday, October 25th. The information services provider reported $27.99 EPS for the quarter, topping analysts’ consensus estimates of $23.13 by $4.86. The firm had revenue of $65.12 billion during the quarter, compared to analysts’ expectations of $63.35 billion. Alphabet had a net margin of 29.52% and a return on equity of 30.22%. The company’s revenue for the quarter was up 41.0% compared to the same quarter last year. During the same quarter last year, the company earned $16.40 earnings per share. Equities research analysts predict that Alphabet Inc. will post 107.86 earnings per share for the current fiscal year.

About Alphabet

Alphabet, Inc is a holding company, which engages in the business of acquisition and operation of different companies. It operates through the Google and Other Bets segments. The Google segment includes its main Internet products such as ads, Android, Chrome, hardware, Google Cloud, Google Maps, Google Play, Search, and YouTube.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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