TCG Advisory Services LLC Raises Position in Alphabet Inc. (NASDAQ:GOOG)

TCG Advisory Services LLC lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 81.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 33,317 shares of the information services provider’s stock after buying an additional 15,004 shares during the quarter. TCG Advisory Services LLC’s holdings in Alphabet were worth $4,695,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Tandem Wealth Advisors LLC acquired a new position in shares of Alphabet during the third quarter worth $25,000. Bruce G. Allen Investments LLC acquired a new position in Alphabet in the 4th quarter worth $26,000. Equitec Proprietary Markets LLC purchased a new position in Alphabet in the 4th quarter valued at about $28,000. Buck Wealth Strategies LLC acquired a new stake in shares of Alphabet during the third quarter valued at about $32,000. Finally, Barometer Capital Management Inc. purchased a new stake in shares of Alphabet during the third quarter worth about $32,000. 27.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GOOG has been the subject of a number of recent analyst reports. Raymond James raised their price objective on Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a research note on Wednesday, January 24th. Oppenheimer raised their price target on shares of Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research report on Monday, April 8th. Morgan Stanley reaffirmed an “overweight” rating and issued a $165.00 price target on shares of Alphabet in a report on Thursday, April 11th. Stifel Nicolaus raised their price objective on shares of Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Finally, Susquehanna boosted their target price on shares of Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research report on Wednesday, January 31st. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $165.67.

Alphabet Stock Performance

GOOG traded up $0.53 on Friday, hitting $168.99. 22,767,056 shares of the company’s stock were exchanged, compared to its average volume of 22,353,938. The company has a current ratio of 2.15, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05. The stock has a fifty day moving average of $151.46 and a two-hundred day moving average of $143.69. Alphabet Inc. has a twelve month low of $104.70 and a twelve month high of $176.42. The firm has a market cap of $2.10 trillion, a PE ratio of 25.92, a P/E/G ratio of 1.26 and a beta of 1.02.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.38. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The business had revenue of $80.54 billion for the quarter, compared to the consensus estimate of $78.75 billion. During the same quarter last year, the business posted $1.17 EPS. The business’s revenue was up 15.4% on a year-over-year basis. On average, research analysts anticipate that Alphabet Inc. will post 7.66 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently declared a — dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 10th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, June 10th.

Insider Activity

In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $146.29, for a total value of $3,291,525.00. Following the sale, the chief executive officer now owns 2,377,691 shares of the company’s stock, valued at approximately $347,832,416.39. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $146.29, for a total value of $3,291,525.00. Following the completion of the transaction, the chief executive officer now directly owns 2,377,691 shares of the company’s stock, valued at approximately $347,832,416.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $136.49, for a total value of $93,086.18. Following the completion of the sale, the chief accounting officer now owns 28,602 shares in the company, valued at $3,903,886.98. The disclosure for this sale can be found here. Over the last quarter, insiders sold 275,129 shares of company stock valued at $40,382,765. 12.99% of the stock is currently owned by company insiders.

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.