TME Financial Inc. Invests $373,000 in Alphabet Inc. $GOOG

TME Financial Inc. bought a new position in Alphabet Inc. (NASDAQ:GOOG) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 2,104 shares of the information services provider’s stock, valued at approximately $373,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. RDA Financial Network boosted its position in shares of Alphabet by 5.3% in the second quarter. RDA Financial Network now owns 11,094 shares of the information services provider’s stock worth $1,968,000 after buying an additional 554 shares during the period. Bleakley Financial Group LLC boosted its position in shares of Alphabet by 1.4% in the second quarter. Bleakley Financial Group LLC now owns 170,020 shares of the information services provider’s stock worth $30,160,000 after buying an additional 2,304 shares during the period. Oldfather Financial Services LLC acquired a new stake in shares of Alphabet in the second quarter worth $213,000. Tower View Wealth Management LLC boosted its position in shares of Alphabet by 6.9% in the second quarter. Tower View Wealth Management LLC now owns 27,644 shares of the information services provider’s stock worth $4,904,000 after buying an additional 1,776 shares during the period. Finally, Dock Street Asset Management Inc. boosted its position in shares of Alphabet by 0.8% in the second quarter. Dock Street Asset Management Inc. now owns 234,306 shares of the information services provider’s stock worth $41,563,000 after buying an additional 1,970 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Price Performance

NASDAQ GOOG opened at $284.75 on Thursday. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $291.93. The stock’s 50-day moving average is $249.02 and its two-hundred day moving average is $203.67. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The firm has a market cap of $3.44 trillion, a P/E ratio of 28.08, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, beating the consensus estimate of $2.29 by $0.58. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The company had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. During the same period last year, the company earned $2.12 earnings per share. The business’s revenue was up 15.9% compared to the same quarter last year. On average, analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on GOOG. Roth Capital reaffirmed a “buy” rating on shares of Alphabet in a research report on Wednesday, July 9th. Bank of America increased their price objective on Alphabet from $280.00 to $335.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Raymond James Financial set a $275.00 price objective on Alphabet and gave the stock an “outperform” rating in a report on Friday, October 24th. KeyCorp reiterated an “overweight” rating and set a $330.00 price objective on shares of Alphabet in a report on Thursday, October 30th. Finally, Robert W. Baird increased their price objective on Alphabet from $215.00 to $275.00 and gave the stock an “outperform” rating in a report on Monday, September 22nd. Five equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, four have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and a consensus target price of $324.81.

Insider Buying and Selling

In other news, CAO Amie Thuener O’toole sold 2,778 shares of Alphabet stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $245.00, for a total value of $680,610.00. Following the transaction, the chief accounting officer directly owned 17,293 shares in the company, valued at approximately $4,236,785. The trade was a 13.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $243.41, for a total value of $7,910,825.00. Following the completion of the transaction, the chief executive officer owned 2,402,119 shares in the company, valued at $584,699,785.79. The trade was a 1.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 190,896 shares of company stock valued at $45,092,175 in the last three months. 12.99% of the stock is currently owned by corporate insiders.

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.