Alphabet Inc. $GOOGL Shares Acquired by TRU Independence Asset Management 2 LLC

Key Points

• TRU Independence Asset Management 2 LLC increased its stake in Alphabet Inc. by 246.9% in Q2, acquiring an additional 13,954 shares, bringing its total to 19,606 shares valued at approximately $3.46 million.
• Alphabet's recent earnings report showed a net margin of 31.12% with revenue of $96.43 billion, exceeding analysts' expectations of $93.60 billion.
• Insider trading activities included Director John L. Hennessy selling 600 shares and CEO Sundar Pichai selling 32,500 shares, indicating a decrease in ownership for both individuals.

TRU Independence Asset Management 2 LLC grew its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 246.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,606 shares of the information services provider's stock after acquiring an additional 13,954 shares during the period. Alphabet comprises approximately 2.4% of TRU Independence Asset Management 2 LLC's portfolio, making the stock its 12th largest position. TRU Independence Asset Management 2 LLC's holdings in Alphabet were worth $3,455,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. ORG Wealth Partners LLC grew its stake in shares of Alphabet by 12.4% in the second quarter. ORG Wealth Partners LLC now owns 6,089 shares of the information services provider's stock worth $1,071,000 after acquiring an additional 670 shares in the last quarter. Brown Lisle Cummings Inc. grew its stake in shares of Alphabet by 2.7% in the second quarter. Brown Lisle Cummings Inc. now owns 52,406 shares of the information services provider's stock worth $9,236,000 after acquiring an additional 1,400 shares in the last quarter. Valicenti Advisory Services Inc. grew its stake in shares of Alphabet by 0.8% in the second quarter. Valicenti Advisory Services Inc. now owns 85,005 shares of the information services provider's stock worth $14,980,000 after acquiring an additional 644 shares in the last quarter. Advisors Management Group Inc. ADV grew its stake in shares of Alphabet by 17.7% in the second quarter. Advisors Management Group Inc. ADV now owns 51,227 shares of the information services provider's stock worth $9,028,000 after acquiring an additional 7,721 shares in the last quarter. Finally, Twelve Points Wealth Management LLC grew its stake in shares of Alphabet by 2.8% in the second quarter. Twelve Points Wealth Management LLC now owns 6,592 shares of the information services provider's stock worth $1,162,000 after acquiring an additional 182 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company's stock.

Insiders Place Their Bets

In other news, Director John L. Hennessy sold 600 shares of the company's stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $249.44, for a total value of $149,664.00. Following the completion of the sale, the director directly owned 5,716 shares of the company's stock, valued at approximately $1,425,799.04. This represents a 9.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $249.50, for a total transaction of $8,108,750.00. Following the completion of the sale, the chief executive officer directly owned 2,397,392 shares of the company's stock, valued at $598,149,304. The trade was a 1.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 243,285 shares of company stock valued at $50,994,787. 11.64% of the stock is owned by insiders.

Alphabet Price Performance

Shares of GOOGL opened at $244.90 on Thursday. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $256.00. The stock has a market cap of $2.96 trillion, a PE ratio of 26.08, a price-to-earnings-growth ratio of 1.64 and a beta of 1.00. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The firm has a fifty day moving average price of $219.14 and a 200 day moving average price of $184.66.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating analysts' consensus estimates of $2.15 by $0.16. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The firm had revenue of $96.43 billion during the quarter, compared to analysts' expectations of $93.60 billion. As a group, sell-side analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, September 8th. Alphabet's dividend payout ratio is presently 8.95%.

Analyst Ratings Changes

Several equities analysts have commented on GOOGL shares. Moffett Nathanson boosted their price target on shares of Alphabet from $230.00 to $295.00 and gave the stock a "buy" rating in a research note on Thursday, September 25th. Citizens Jmp lifted their price objective on shares of Alphabet from $250.00 to $290.00 and gave the stock an "outperform" rating in a research report on Friday, September 19th. BMO Capital Markets lifted their price objective on shares of Alphabet from $208.00 to $225.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. Wedbush lifted their price objective on shares of Alphabet from $225.00 to $245.00 and gave the stock an "outperform" rating in a research report on Wednesday, September 3rd. Finally, Guggenheim lifted their price objective on shares of Alphabet from $190.00 to $210.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Four investment analysts have rated the stock with a Strong Buy rating, thirty-two have assigned a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $237.10.

About Alphabet

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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