Trueblood Wealth Management LLC Makes New $661,000 Investment in Alphabet Inc. (NASDAQ:GOOG)

Trueblood Wealth Management LLC bought a new stake in Alphabet Inc. (NASDAQ:GOOG) during the 4th quarter, HoldingsChannel reports. The fund bought 4,692 shares of the information services provider’s stock, valued at approximately $661,000.

A number of other institutional investors and hedge funds have also made changes to their positions in GOOG. FLC Capital Advisors boosted its stake in shares of Alphabet by 1.8% in the fourth quarter. FLC Capital Advisors now owns 23,383 shares of the information services provider’s stock valued at $3,295,000 after buying an additional 405 shares in the last quarter. Morton Capital Management LLC CA lifted its holdings in Alphabet by 1.3% in the fourth quarter. Morton Capital Management LLC CA now owns 9,429 shares of the information services provider’s stock valued at $1,329,000 after acquiring an additional 124 shares during the period. WealthCare Investment Partners LLC purchased a new stake in shares of Alphabet during the 4th quarter worth $202,000. MJP Associates Inc. ADV boosted its position in shares of Alphabet by 1.2% during the 4th quarter. MJP Associates Inc. ADV now owns 8,064 shares of the information services provider’s stock worth $1,136,000 after purchasing an additional 99 shares in the last quarter. Finally, Pettinga Financial Advisors LLC grew its stake in shares of Alphabet by 6.1% during the 4th quarter. Pettinga Financial Advisors LLC now owns 11,420 shares of the information services provider’s stock worth $1,609,000 after purchasing an additional 660 shares during the period. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Price Performance

Alphabet stock opened at $152.26 on Friday. The firm has a market capitalization of $1.89 trillion, a PE ratio of 26.25, a P/E/G ratio of 1.40 and a beta of 1.05. Alphabet Inc. has a 52 week low of $100.29 and a 52 week high of $155.20. The firm’s 50-day simple moving average is $144.75 and its 200 day simple moving average is $139.39. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. The company had revenue of $86.31 billion during the quarter, compared to analysts’ expectations of $85.28 billion. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The firm’s quarterly revenue was up 13.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.05 earnings per share. On average, equities research analysts predict that Alphabet Inc. will post 6.77 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Susquehanna boosted their price objective on shares of Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a report on Wednesday, January 31st. Raymond James lifted their price target on shares of Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a research report on Wednesday, January 24th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $146.33.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 425 shares of the stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $139.61, for a total transaction of $59,334.25. Following the sale, the chief accounting officer now owns 27,259 shares in the company, valued at approximately $3,805,628.99. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CAO Amie Thuener O’toole sold 425 shares of the business’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $139.61, for a total value of $59,334.25. Following the completion of the transaction, the chief accounting officer now directly owns 27,259 shares of the company’s stock, valued at $3,805,628.99. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Frances Arnold sold 230 shares of the stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total value of $35,433.80. Following the sale, the director now directly owns 15,104 shares in the company, valued at approximately $2,326,922.24. The disclosure for this sale can be found here. Insiders sold 251,138 shares of company stock worth $35,427,655 in the last ninety days. Insiders own 12.99% of the company’s stock.

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.