Alphabet Inc. (NASDAQ:GOOG) Shares Acquired by Truvestments Capital LLC

Truvestments Capital LLC increased its stake in Alphabet Inc. (NASDAQ:GOOG) by 13.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 10,590 shares of the information services provider’s stock after acquiring an additional 1,275 shares during the quarter. Truvestments Capital LLC’s holdings in Alphabet were worth $2,017,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the stock. Weiss Asset Management LP acquired a new stake in shares of Alphabet in the third quarter worth $25,000. Fiduciary Advisors Inc. acquired a new stake in shares of Alphabet in the fourth quarter worth $27,000. Safe Harbor Fiduciary LLC acquired a new stake in shares of Alphabet in the third quarter worth $33,000. Noble Wealth Management PBC acquired a new stake in shares of Alphabet in the fourth quarter worth $43,000. Finally, FPC Investment Advisory Inc. boosted its position in shares of Alphabet by 287.9% in the fourth quarter. FPC Investment Advisory Inc. now owns 225 shares of the information services provider’s stock worth $46,000 after buying an additional 167 shares during the period. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Needham & Company LLC reaffirmed a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. Morgan Stanley restated an “overweight” rating on shares of Alphabet in a research note on Wednesday, February 5th. Scotiabank boosted their target price on Alphabet from $212.00 to $240.00 and gave the company a “sector outperform” rating in a research note on Friday, January 24th. Oppenheimer boosted their target price on Alphabet from $215.00 to $225.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Finally, Citizens Jmp downgraded Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. One analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $209.13.

Insider Buying and Selling

In other news, CAO Amie Thuener O’toole sold 1,340 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $202.08, for a total value of $270,787.20. Following the transaction, the chief accounting officer now owns 17,848 shares of the company’s stock, valued at $3,606,723.84. This represents a 6.98 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider John Kent Walker sold 16,820 shares of the stock in a transaction on Monday, December 30th. The shares were sold at an average price of $192.62, for a total value of $3,239,868.40. Following the completion of the transaction, the insider now directly owns 43,981 shares in the company, valued at approximately $8,471,620.22. This trade represents a 27.66 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 95,682 shares of company stock valued at $17,901,024. Insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

GOOG opened at $169.00 on Thursday. The company has a market cap of $2.06 trillion, a PE ratio of 20.99, a price-to-earnings-growth ratio of 1.34 and a beta of 1.03. The stock has a 50-day moving average of $188.44 and a 200-day moving average of $178.02. Alphabet Inc. has a 52-week low of $140.01 and a 52-week high of $208.70. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. As a group, equities research analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be given a dividend of $0.20 per share. The ex-dividend date is Monday, March 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.47%. Alphabet’s dividend payout ratio is presently 9.94%.

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.