Alphabet Inc. $GOOG Position Boosted by TRUE Private Wealth Advisors

TRUE Private Wealth Advisors boosted its position in Alphabet Inc. (NASDAQ:GOOG) by 7.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,501 shares of the information services provider’s stock after buying an additional 827 shares during the quarter. TRUE Private Wealth Advisors’ holdings in Alphabet were worth $2,218,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. REDW Wealth LLC raised its position in shares of Alphabet by 2.3% during the 2nd quarter. REDW Wealth LLC now owns 2,410 shares of the information services provider’s stock valued at $428,000 after acquiring an additional 54 shares in the last quarter. ACT Advisors LLC. increased its stake in Alphabet by 3.5% during the second quarter. ACT Advisors LLC. now owns 1,625 shares of the information services provider’s stock valued at $288,000 after purchasing an additional 55 shares during the last quarter. Moser Wealth Advisors LLC raised its holdings in shares of Alphabet by 2.2% during the second quarter. Moser Wealth Advisors LLC now owns 2,545 shares of the information services provider’s stock worth $451,000 after purchasing an additional 55 shares during the period. LongView Wealth Management raised its holdings in shares of Alphabet by 1.1% during the second quarter. LongView Wealth Management now owns 5,126 shares of the information services provider’s stock worth $909,000 after purchasing an additional 56 shares during the period. Finally, Kooman & Associates lifted its position in shares of Alphabet by 1.4% in the 2nd quarter. Kooman & Associates now owns 4,127 shares of the information services provider’s stock worth $732,000 after buying an additional 56 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Buying and Selling at Alphabet

In related news, CAO Amie Thuener O’toole sold 2,778 shares of the firm’s stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $250.05, for a total transaction of $694,638.90. Following the transaction, the chief accounting officer owned 14,516 shares in the company, valued at $3,629,725.80. This trade represents a 16.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John Kent Walker sold 17,816 shares of the company’s stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $247.42, for a total value of $4,408,034.72. Following the completion of the sale, the insider owned 42,985 shares of the company’s stock, valued at $10,635,348.70. This trade represents a 29.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 189,896 shares of company stock valued at $47,653,637. Company insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

Shares of GOOG stock opened at $291.81 on Wednesday. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $294.52. 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 capitalization of $3.52 trillion, a price-to-earnings ratio of 28.58, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05. The business has a 50 day simple moving average of $259.76 and a 200 day simple moving average of $211.86.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Thursday, October 30th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. The company had revenue of $102.35 billion during the quarter, compared to analyst estimates of $99.90 billion. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The firm’s quarterly revenue was up 15.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.12 EPS. On average, equities research analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 8th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Monday, December 8th. Alphabet’s dividend payout ratio is currently 8.28%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Canaccord Genuity Group reaffirmed a “buy” rating and set a $330.00 price objective on shares of Alphabet in a research report on Thursday, October 30th. Oppenheimer upped their target price on Alphabet from $300.00 to $345.00 and gave the company an “outperform” rating in a report on Thursday, October 30th. Weiss Ratings reissued a “buy (b)” rating on shares of Alphabet in a report on Wednesday, October 8th. Pivotal Research boosted their price objective on Alphabet from $300.00 to $350.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Finally, KeyCorp reaffirmed an “overweight” rating and issued a $330.00 target price on shares of Alphabet in a research report on Thursday, October 30th. Seven research analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $324.81.

Alphabet 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.