Alphabet Inc. $GOOG Shares Bought by Truvestments Capital LLC

Key Points

• Truvestments Capital LLC increased its holdings in Alphabet Inc. by 15.0% during the first quarter, now owning 12,182 shares valued at approximately $1.9 million.
• Alphabet recently reported $2.31 EPS, exceeding analysts' expectations, with a 13.8% revenue increase year-over-year.
• Insiders, including CEO Sundar Pichai, sold significant amounts of stock recently, with total insider sales reaching $47.2 million in the last ninety days.

Truvestments Capital LLC raised its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 15.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,182 shares of the information services provider's stock after acquiring an additional 1,592 shares during the quarter. Truvestments Capital LLC's holdings in Alphabet were worth $1,903,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Principia Wealth Advisory LLC lifted its holdings in Alphabet by 111.8% in the 1st quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock valued at $26,000 after acquiring an additional 85 shares during the last quarter. MorganRosel Wealth Management LLC acquired a new stake in Alphabet during the 1st quarter worth about $26,000. Greykasell Wealth Strategies Inc. purchased a new position in Alphabet during the 1st quarter valued at about $32,000. Goodman Advisory Group LLC purchased a new position in Alphabet during the 1st quarter valued at about $32,000. Finally, Elevate Wealth Advisory Inc. purchased a new stake in shares of Alphabet during the first quarter worth $34,000. 27.26% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on GOOG shares. Citizens Jmp upgraded Alphabet from a "hold" rating to a "strong-buy" rating in a report on Thursday, June 26th. Oppenheimer reaffirmed an "outperform" rating and issued a $235.00 target price (up previously from $220.00) on shares of Alphabet in a report on Thursday, July 24th. Needham & Company LLC lowered Alphabet from a "buy" rating to a "cautious" rating in a report on Friday, May 2nd. The Goldman Sachs Group reiterated a "buy" rating and issued a $220.00 price objective on shares of Alphabet in a research report on Monday, June 2nd. Finally, JPMorgan Chase & Co. increased their target price on Alphabet from $200.00 to $232.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Five investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat, Alphabet presently has an average rating of "Moderate Buy" and an average target price of $215.19.

Alphabet Stock Performance

Shares of Alphabet stock opened at $207.95 on Wednesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $211.09. The stock has a market capitalization of $2.51 trillion, a price-to-earnings ratio of 22.15, a PEG ratio of 1.41 and a beta of 1.02. The firm has a fifty day moving average of $188.95 and a two-hundred day moving average of $174.99.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.12 by $0.19. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The firm had revenue of $96.43 billion for the quarter, compared to analysts' expectations of $93.67 billion. During the same quarter last year, the business earned $1.89 earnings per share. The company's revenue was up 13.8% compared to the same quarter last year. As a group, equities research analysts predict that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be issued a dividend of $0.21 per share. The ex-dividend date is Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.4%. Alphabet's dividend payout ratio (DPR) is 8.95%.

Insider Buying and Selling

In other Alphabet news, insider John Kent Walker sold 23,820 shares of the firm's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the transaction, the insider owned 42,999 shares in the company, valued at approximately $8,371,905.30. This trade represents a 35.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total value of $5,801,900.00. Following the transaction, the chief executive officer owned 2,559,892 shares in the company, valued at approximately $456,991,919.84. This trade represents a 1.25% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 254,719 shares of company stock worth $47,223,172 in the last ninety days. 12.99% of the stock is currently owned by corporate insiders.

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.

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