Alphabet Inc. $GOOG Shares Bought by TruWealth Advisors LLC

Key Points

• TruWealth Advisors LLC increased its stake in Alphabet Inc. by 3.4%, holding a total of 212,400 shares worth approximately $37.7 million.
• Alphabet reported earnings of $2.31 per share for the last quarter, exceeding analyst expectations and demonstrating a year-over-year revenue increase of 13.8%.
• The company declared a quarterly dividend of $0.21 per share, reflecting a 0.3% dividend yield and a payout ratio of 8.95%.

TruWealth Advisors LLC grew its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 3.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 212,400 shares of the information services provider's stock after purchasing an additional 7,043 shares during the quarter. Alphabet comprises approximately 2.1% of TruWealth Advisors LLC's portfolio, making the stock its 14th largest holding. TruWealth Advisors LLC's holdings in Alphabet were worth $37,678,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Principia Wealth Advisory LLC grew 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 buying an additional 85 shares in the last quarter. MorganRosel Wealth Management LLC purchased a new position in shares of Alphabet during the 1st quarter worth $26,000. Goodman Advisory Group LLC acquired a new position in shares of Alphabet during the 1st quarter valued at about $32,000. Greykasell Wealth Strategies Inc. purchased a new stake in shares of Alphabet in the first quarter valued at about $32,000. Finally, Elevate Wealth Advisory Inc. acquired a new stake in Alphabet during the first quarter worth about $34,000. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Trading Up 0.2%

GOOG opened at $241.38 on Friday. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $242.57. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The business has a fifty day simple moving average of $202.67 and a 200-day simple moving average of $178.86. The firm has a market cap of $2.92 trillion, a P/E ratio of 25.71, a P/E/G ratio of 1.62 and a beta of 1.01.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $93.67 billion. During the same quarter in the prior year, the company earned $1.89 EPS. Alphabet's revenue was up 13.8% on a year-over-year basis. On average, equities analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. Alphabet's dividend payout ratio (DPR) is presently 8.95%.

Insider Buying and Selling at Alphabet

In related news, insider John Kent Walker sold 23,820 shares of the company's stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the sale, the insider directly owned 42,999 shares of the company's stock, valued at $8,371,905.30. This represents a 35.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 1,000 shares of the stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $200.00, for a total transaction of $200,000.00. Following the sale, the director owned 6,916 shares in the company, valued at approximately $1,383,200. This trade represents a 12.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 254,710 shares of company stock worth $49,208,380. 12.99% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have commented on GOOG. UBS Group lifted their target price on shares of Alphabet from $186.00 to $192.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 16th. JPMorgan Chase & Co. lifted their price target on shares of Alphabet from $232.00 to $260.00 and gave the company an "overweight" rating in a research report on Wednesday, September 3rd. Raymond James Financial reiterated an "outperform" rating and issued a $210.00 price objective (up from $185.00) on shares of Alphabet in a research report on Thursday, July 24th. Lake Street Capital reiterated a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. Finally, Barclays reissued a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. Four analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $227.56.

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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