Tower Research Capital LLC TRC Has $80.06 Million Holdings in Alphabet Inc. (NASDAQ:GOOG)

Tower Research Capital LLC TRC lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 233.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 420,416 shares of the information services provider’s stock after buying an additional 294,148 shares during the period. Alphabet comprises approximately 1.6% of Tower Research Capital LLC TRC’s investment portfolio, making the stock its 10th biggest position. Tower Research Capital LLC TRC’s holdings in Alphabet were worth $80,064,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Fiduciary Advisors Inc. bought a new stake in shares of Alphabet in the fourth quarter worth $27,000. LSV Asset Management bought a new stake in shares of Alphabet in the 4th quarter valued at about $27,000. WealthTrak Capital Management LLC acquired a new stake in shares of Alphabet in the fourth quarter valued at about $38,000. Mountain Hill Investment Partners Corp. bought a new position in shares of Alphabet during the fourth quarter worth about $39,000. Finally, Noble Wealth Management PBC acquired a new position in shares of Alphabet in the fourth quarter worth approximately $43,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on GOOG shares. Scotiabank raised their price target on shares of Alphabet from $212.00 to $240.00 and gave the stock a “sector outperform” rating in a report on Friday, January 24th. Citizens Jmp downgraded shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Westpark Capital assumed coverage on shares of Alphabet in a research report on Tuesday, April 1st. They set a “buy” rating and a $210.00 price target on the stock. Morgan Stanley reissued an “overweight” rating on shares of Alphabet in a research report on Wednesday, February 5th. Finally, Oppenheimer boosted their price objective on Alphabet from $215.00 to $225.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. One analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and a consensus target price of $210.88.

Insider Transactions at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $156.16, for a total value of $5,075,200.00. Following the sale, the chief executive officer now owns 2,685,196 shares of the company’s stock, valued at approximately $419,320,207.36. The trade was a 1.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $161.90, for a total transaction of $32,380.00. Following the completion of the transaction, the director now owns 7,613 shares in the company, valued at approximately $1,232,544.70. The trade was a 2.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 148,163 shares of company stock worth $25,361,647 in the last ninety days. Company insiders own 12.99% of the company’s stock.

Alphabet Trading Down 1.4 %

Shares of GOOG stock opened at $153.36 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. The company has a market capitalization of $1.87 trillion, a price-to-earnings ratio of 19.05, a PEG ratio of 1.34 and a beta of 1.04. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $208.70. The company has a 50-day simple moving average of $167.16 and a two-hundred day simple moving average of $177.55.

Alphabet (NASDAQ:GOOG) last released its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Research analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.52%. The ex-dividend date was Monday, March 10th. Alphabet’s dividend payout ratio is presently 9.94%.

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.