TrueWealth Advisors LLC Cuts Holdings in Alphabet Inc. (NASDAQ:GOOGL)

TrueWealth Advisors LLC trimmed its position in Alphabet Inc. (NASDAQ:GOOGL) by 39.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,320 shares of the information services provider’s stock after selling 2,168 shares during the quarter. TrueWealth Advisors LLC’s holdings in Alphabet were worth $513,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in GOOGL. Compass Planning Associates Inc purchased a new position in shares of Alphabet in the 4th quarter worth $30,000. Fiduciary Advisors Inc. bought a new position in shares of Alphabet in the 4th quarter valued at about $39,000. PayPay Securities Corp grew its position in Alphabet by 36.1% in the fourth quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock worth $46,000 after acquiring an additional 65 shares in the last quarter. Anderson Financial Strategies LLC bought a new stake in Alphabet during the fourth quarter worth approximately $49,000. Finally, Navigoe LLC purchased a new stake in Alphabet during the fourth quarter valued at approximately $51,000. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Price Performance

Shares of GOOGL opened at $166.18 on Wednesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. The company has a 50 day moving average price of $159.26 and a 200-day moving average price of $174.47. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $207.05. The stock has a market capitalization of $2.02 trillion, a PE ratio of 20.64, a PEG ratio of 1.34 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping analysts’ consensus estimates of $2.02 by $0.79. The company had revenue of $76.49 billion during the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. During the same quarter in the previous year, the firm posted $1.89 earnings per share. Equities analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.51%. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date is Monday, June 9th. Alphabet’s payout ratio is presently 9.36%.

Analyst Ratings Changes

A number of equities analysts have recently commented on GOOGL shares. Tigress Financial lifted their target price on Alphabet from $220.00 to $240.00 and gave the stock a “strong-buy” rating in a report on Wednesday, April 30th. Wells Fargo & Company lifted their price objective on shares of Alphabet from $167.00 to $175.00 and gave the stock an “equal weight” rating in a research note on Friday, April 25th. Sanford C. Bernstein increased their target price on shares of Alphabet from $165.00 to $185.00 and gave the company a “market perform” rating in a research note on Friday, April 25th. JMP Securities reaffirmed a “market perform” rating on shares of Alphabet in a research note on Wednesday, May 21st. Finally, Bank of America increased their price objective on shares of Alphabet from $185.00 to $200.00 and gave the stock a “buy” rating in a research report on Friday, April 25th. Ten equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and a consensus target price of $199.75.

Insider Transactions at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of Alphabet stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $1,837,500.00. Following the transaction, the director now directly owns 261,966 shares of the company’s stock, valued at approximately $45,844,050. The trade was a 3.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 200 shares of the company’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $165.53, for a total value of $33,106.00. Following the transaction, the director now directly owns 7,813 shares in the company, valued at approximately $1,293,285.89. The trade was a 2.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 163,270 shares of company stock valued at $26,553,563. Corporate insiders own 11.64% 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.