Alphabet Inc. (NASDAQ:GOOG) Shares Sold by TruWealth Advisors LLC

TruWealth Advisors LLC cut its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.5% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 200,629 shares of the information services provider’s stock after selling 943 shares during the quarter. Alphabet accounts for approximately 2.3% of TruWealth Advisors LLC’s holdings, making the stock its 12th largest position. TruWealth Advisors LLC’s holdings in Alphabet were worth $38,208,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Weiss Asset Management LP acquired a new stake in shares of Alphabet in the third quarter worth approximately $25,000. Abich Financial Wealth Management LLC boosted its position in shares of Alphabet by 9,200.0% in the second quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock worth $34,000 after acquiring an additional 184 shares during the last quarter. Safe Harbor Fiduciary LLC acquired a new stake in shares of Alphabet in the third quarter worth approximately $33,000. HWG Holdings LP acquired a new stake in shares of Alphabet in the second quarter worth approximately $40,000. Finally, Sanctuary Wealth Management L.L.C. boosted its position in shares of Alphabet by 87.3% in the third quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock worth $42,000 after acquiring an additional 117 shares during the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GOOG has been the topic of several research analyst reports. Barclays raised their target price on shares of Alphabet from $200.00 to $220.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Canaccord Genuity Group lifted their price target on shares of Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Jefferies Financial Group lifted their price target on shares of Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Scotiabank initiated coverage on shares of Alphabet in a research report on Friday, October 11th. They set a “sector outperform” rating and a $212.00 price target on the stock. Finally, UBS Group lifted their price target on shares of Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Six equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat, Alphabet has an average rating of “Moderate Buy” and a consensus target price of $200.56.

Insider Activity at Alphabet

In other news, CAO Amie Thuener O’toole sold 1,367 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $170.41, for a total value of $232,950.47. Following the completion of the sale, the chief accounting officer now directly owns 23,515 shares in the company, valued at approximately $4,007,191.15. This trade represents a 5.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $189.80, for a total value of $284,700.00. Following the completion of the sale, the director now owns 21,824 shares of the company’s stock, valued at approximately $4,142,195.20. This trade represents a 6.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 133,387 shares of company stock worth $24,368,654. 12.99% of the stock is owned by corporate insiders.

Alphabet Stock Up 1.6 %

Shares of Alphabet stock opened at $197.55 on Monday. The stock has a market capitalization of $2.42 trillion, a P/E ratio of 26.20, a PEG ratio of 1.21 and a beta of 0.99. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The stock has a 50 day moving average price of $185.92 and a two-hundred day moving average price of $174.85. Alphabet Inc. has a 12-month low of $131.55 and a 12-month high of $202.88.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The company had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $86.39 billion. During the same period in the prior year, the business earned $1.55 earnings per share. Alphabet’s revenue for the quarter was up 15.1% compared to the same quarter last year. Equities analysts expect that Alphabet Inc. will post 8.03 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 9th were paid a $0.20 dividend. The ex-dividend date was Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.40%. Alphabet’s payout ratio is 10.61%.

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.