Alphabet Inc. (NASDAQ:GOOG) Shares Bought by TRUE Private Wealth Advisors

TRUE Private Wealth Advisors lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.1% during the fourth quarter, Holdings Channel reports. The firm owned 11,672 shares of the information services provider’s stock after buying an additional 122 shares during the period. TRUE Private Wealth Advisors’ holdings in Alphabet were worth $2,223,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Fiduciary Advisors Inc. bought a new stake in Alphabet in the 4th quarter valued at about $27,000. Weiss Asset Management LP bought a new stake in shares of Alphabet during the third quarter valued at approximately $25,000. WealthTrak Capital Management LLC acquired a new position in shares of Alphabet during the fourth quarter worth approximately $38,000. Mountain Hill Investment Partners Corp. bought a new position in Alphabet in the 4th quarter worth approximately $39,000. Finally, Noble Wealth Management PBC acquired a new stake in Alphabet in the 4th quarter valued at approximately $43,000. Institutional investors own 27.26% of the company’s stock.

Alphabet Stock Down 1.8 %

NASDAQ:GOOG opened at $146.58 on Wednesday. The business’s fifty day moving average price is $174.13 and its 200 day moving average price is $178.10. The firm has a market capitalization of $1.79 trillion, a price-to-earnings ratio of 18.21, a PEG ratio of 1.34 and a beta of 1.04. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $208.70.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. On average, sell-side analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a yield of 0.55%. Alphabet’s payout ratio is 9.94%.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director John L. Hennessy sold 1,500 shares of the stock in a transaction on Monday, January 13th. The shares were sold at an average price of $189.80, for a total transaction of $284,700.00. Following the transaction, the director now directly owns 21,824 shares of the company’s stock, valued at $4,142,195.20. This represents a 6.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 673 shares of the business’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total value of $104,537.09. Following the completion of the sale, the chief accounting officer now owns 15,303 shares of the company’s stock, valued at approximately $2,377,014.99. This trade represents a 4.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 119,797 shares of company stock worth $21,089,470 over the last 90 days. 12.99% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

GOOG has been the subject of several recent analyst reports. Needham & Company LLC reissued a “buy” rating on shares of Alphabet in a research note on Wednesday, February 5th. Benchmark reissued a “negative” rating on shares of Alphabet in a research note on Wednesday, February 5th. Oppenheimer upped their price target on shares of Alphabet from $215.00 to $225.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Wedbush reiterated an “outperform” rating and set a $220.00 price objective on shares of Alphabet in a research note on Thursday, January 30th. Finally, Rosenblatt Securities restated a “neutral” rating on shares of Alphabet in a research report on Wednesday, March 19th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $208.65.

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.