TIAA Trust National Association Sells 1,739 Shares of Alphabet Inc. (NASDAQ:GOOG)

TIAA Trust National Association decreased its holdings in Alphabet Inc. (NASDAQ:GOOG) by 0.5% in the first quarter, Holdings Channel reports. The firm owned 327,975 shares of the information services provider’s stock after selling 1,739 shares during the quarter. TIAA Trust National Association’s holdings in Alphabet were worth $51,239,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of GOOG. Principia Wealth Advisory LLC grew its holdings in shares of 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 during the period. MorganRosel Wealth Management LLC bought a new stake in shares of Alphabet in the first quarter worth $26,000. LSV Asset Management bought a new stake in shares of Alphabet in the fourth quarter worth $27,000. Goodman Advisory Group LLC bought a new stake in shares of Alphabet in the first quarter worth $32,000. Finally, Graybill Wealth Management LTD. bought a new stake in shares of Alphabet in the first quarter worth $44,000. Institutional investors own 27.26% of the company’s stock.

Alphabet Price Performance

Shares of Alphabet stock opened at $189.95 on Friday. The stock’s 50-day simple moving average is $179.37 and its 200-day simple moving average is $174.69. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $208.70. The company has a market capitalization of $2.31 trillion, a price-to-earnings ratio of 20.23, a PEG ratio of 1.28 and a beta of 1.02. 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 (NASDAQ:GOOG) last announced its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating the consensus estimate of $2.12 by $0.19. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. The business had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.67 billion. During the same period in the previous year, the business earned $1.89 earnings per share. The business’s revenue was up 13.8% on a year-over-year basis. As a group, analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Monday, September 8th. Alphabet’s payout ratio is presently 8.95%.

Analyst Ratings Changes

GOOG has been the subject of several research analyst reports. Tigress Financial reaffirmed a “strong-buy” rating on shares of Alphabet in a report on Friday, May 2nd. BNP Paribas lowered Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, June 26th. Rosenblatt Securities raised Alphabet from a “hold” rating to a “strong-buy” rating in a report on Friday, April 25th. Lake Street Capital reissued a “buy” rating on shares of Alphabet in a report on Wednesday, July 9th. Finally, Barclays reissued a “buy” rating on shares of Alphabet in a report on Wednesday, July 9th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have assigned a buy rating and five have assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $215.19.

Insider Activity

In related news, Director Kavitark Ram Shriram sold 18,566 shares of the business’s stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $3,448,820.16. Following the sale, the director directly owned 243,400 shares in the company, valued at approximately $45,213,984. The trade was a 7.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total value 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 $456,991,919.84. This represents a 1.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 249,399 shares of company stock worth $43,525,794 over the last 90 days. Company insiders own 12.99% of the company’s stock.

About Alphabet

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.