TruWealth Advisors LLC Grows Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

TruWealth Advisors LLC lifted its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 2.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 205,357 shares of the information services provider's stock after buying an additional 4,728 shares during the period. Alphabet comprises approximately 1.9% of TruWealth Advisors LLC's portfolio, making the stock its 15th biggest position. TruWealth Advisors LLC's holdings in Alphabet were worth $32,083,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of GOOG. Wealth Alliance Advisory Group LLC grew its position in Alphabet by 6.1% in the first quarter. Wealth Alliance Advisory Group LLC now owns 23,309 shares of the information services provider's stock worth $3,642,000 after acquiring an additional 1,350 shares in the last quarter. Granite Bay Wealth Management LLC boosted its holdings in Alphabet by 1.2% in the first quarter. Granite Bay Wealth Management LLC now owns 35,324 shares of the information services provider's stock worth $5,519,000 after purchasing an additional 432 shares in the last quarter. Firethorn Wealth Partners LLC increased its position in Alphabet by 17.4% during the first quarter. Firethorn Wealth Partners LLC now owns 4,552 shares of the information services provider's stock worth $711,000 after buying an additional 674 shares during the last quarter. Benin Management CORP raised its holdings in Alphabet by 9.3% during the first quarter. Benin Management CORP now owns 32,477 shares of the information services provider's stock valued at $5,074,000 after buying an additional 2,768 shares in the last quarter. Finally, Cathy Pareto & Associates Inc. lifted its position in shares of Alphabet by 11.0% in the first quarter. Cathy Pareto & Associates Inc. now owns 5,523 shares of the information services provider's stock worth $863,000 after buying an additional 547 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company's stock.

Analyst Upgrades and Downgrades

GOOG has been the topic of a number of recent analyst reports. Cantor Fitzgerald reissued a "neutral" rating and issued a $171.00 price target on shares of Alphabet in a research report on Friday, April 25th. Benchmark reissued a "negative" rating on shares of Alphabet in a research report on Wednesday, February 5th. Tigress Financial reaffirmed a "strong-buy" rating on shares of Alphabet in a research report on Friday, May 2nd. Morgan Stanley reissued an "overweight" rating on shares of Alphabet in a research report on Wednesday, February 5th. Finally, Rosenblatt Securities upgraded Alphabet from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 25th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have issued a buy rating and five have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $204.88.

Alphabet Stock Up 0.2%

Shares of GOOG stock traded up $0.42 during trading hours on Thursday, reaching $169.81. The company had a trading volume of 24,841,790 shares, compared to its average volume of 20,314,125. The business has a fifty day simple moving average of $161.29 and a 200-day simple moving average of $176.14. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $208.70. The company has a market cap of $2.06 trillion, a price-to-earnings ratio of 21.09, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced its 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. The firm had revenue of $90.23 billion during the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The business's revenue was up 12.0% compared to the same quarter last year. During the same period last year, the firm posted $1.89 EPS. On average, research analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be issued a dividend of $0.21 per share. This is a boost from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a yield of 0.49%. Alphabet's payout ratio is presently 9.36%.

Insider Transactions at Alphabet

In related news, Director John L. Hennessy sold 600 shares of Alphabet stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $105,000.00. Following the completion of the sale, the director now owns 6,813 shares of the company's stock, valued at approximately $1,192,275. This trade represents a 8.09% decrease in their ownership of the stock. The transaction 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 business's stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $168.71, for a total value of $5,483,075.00. Following the transaction, the chief executive officer now directly owns 2,587,696 shares of the company's stock, valued at $436,570,192.16. The trade was a 1.24% decrease in their position. The disclosure for this sale can be found here. Insiders sold 195,770 shares of company stock valued at $32,036,638 over the last three months. Company insiders own 12.99% of the company's stock.

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.