Trueblood Wealth Management LLC Acquires 134 Shares of Alphabet Inc. (NASDAQ:GOOG)

Trueblood Wealth Management LLC raised its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 3.2% in the first quarter, HoldingsChannel reports. The firm owned 4,383 shares of the information services provider’s stock after acquiring an additional 134 shares during the period. Trueblood Wealth Management LLC’s holdings in Alphabet were worth $685,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the stock. Sterling Financial Planning Inc. grew its stake in Alphabet by 2.6% during the 4th quarter. Sterling Financial Planning Inc. now owns 1,941 shares of the information services provider’s stock worth $370,000 after buying an additional 50 shares during the last quarter. Arlington Trust Co LLC grew its holdings in Alphabet by 0.4% during the fourth quarter. Arlington Trust Co LLC now owns 14,423 shares of the information services provider’s stock worth $2,747,000 after acquiring an additional 52 shares during the period. Ethos Financial Group LLC boosted its position in Alphabet by 0.7% during the fourth quarter. Ethos Financial Group LLC now owns 7,300 shares of the information services provider’s stock worth $1,395,000 after purchasing an additional 53 shares in the last quarter. Hutchinson Capital Management CA lifted its position in shares of Alphabet by 1.5% in the fourth quarter. Hutchinson Capital Management CA now owns 3,555 shares of the information services provider’s stock valued at $677,000 after acquiring an additional 54 shares in the last quarter. Finally, M. Kulyk & Associates LLC increased its holdings in shares of Alphabet by 0.9% in the fourth quarter. M. Kulyk & Associates LLC now owns 6,445 shares of the information services provider’s stock valued at $1,227,000 after purchasing an additional 56 shares during the last quarter. 27.26% of the stock is owned by institutional investors.

Alphabet Trading Up 1.3%

GOOG stock opened at $180.01 on Wednesday. The company has a market cap of $2.18 trillion, a price-to-earnings ratio of 22.36, a PEG ratio of 1.34 and a beta of 1.01. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The business has a fifty day simple moving average of $162.80 and a 200-day simple moving average of $176.20. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $208.70.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.79. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The firm had revenue of $90.23 billion during the quarter, compared to the consensus estimate of $89.30 billion. During the same period in the prior year, the firm earned $1.89 EPS. The firm’s quarterly revenue was up 12.0% compared to the same quarter last year. On average, equities research analysts expect that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, June 9th. This is an increase from Alphabet’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 0.47%. Alphabet’s dividend payout ratio (DPR) is currently 9.36%.

Insider Activity

In related news, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $165.53, for a total value of $33,106.00. Following the completion of the transaction, the director now directly owns 7,813 shares in the company, valued at approximately $1,293,285.89. This trade represents a 2.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 673 shares of Alphabet stock in a transaction dated 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 transaction, the chief accounting officer now owns 15,303 shares of the company’s stock, valued at $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 sold 195,770 shares of company stock worth $32,036,638 over the last ninety days. Corporate insiders own 12.99% of the company’s stock.

Analysts Set New Price Targets

GOOG has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised their target price on Alphabet from $180.00 to $195.00 and gave the stock an “overweight” rating in a research note on Friday, April 25th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $171.00 price target on shares of Alphabet in a report on Friday, April 25th. Westpark Capital reissued a “buy” rating and issued a $210.00 target price on shares of Alphabet in a report on Friday, April 25th. Needham & Company LLC cut Alphabet from a “buy” rating to a “cautious” rating in a research report on Friday, May 2nd. Finally, UBS Group dropped their price target on Alphabet from $209.00 to $173.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have issued a buy rating and five have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $204.88.

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.