TrueWealth Advisors LLC Has $625,000 Stake in Alphabet Inc. $GOOGL

TrueWealth Advisors LLC boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 6.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,546 shares of the information services provider’s stock after buying an additional 226 shares during the quarter. TrueWealth Advisors LLC’s holdings in Alphabet were worth $625,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Mystic Asset Management Inc. increased its position in Alphabet by 6.7% during the first quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider’s stock worth $4,400,000 after buying an additional 1,791 shares during the last quarter. Harbour Trust & Investment Management Co grew its position in shares of Alphabet by 0.3% in the first quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider’s stock valued at $4,187,000 after purchasing an additional 80 shares during the last quarter. Cypress Capital LLC grew its position in shares of Alphabet by 4.1% in the first quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider’s stock valued at $2,213,000 after purchasing an additional 563 shares during the last quarter. Bridgeway Capital Management LLC grew its position in shares of Alphabet by 17.9% in the first quarter. Bridgeway Capital Management LLC now owns 88,187 shares of the information services provider’s stock valued at $13,637,000 after purchasing an additional 13,371 shares during the last quarter. Finally, Alaethes Wealth LLC grew its position in shares of Alphabet by 1.1% in the first quarter. Alaethes Wealth LLC now owns 7,646 shares of the information services provider’s stock valued at $1,182,000 after purchasing an additional 84 shares during the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on GOOGL. Roth Capital raised their price target on Alphabet from $205.00 to $210.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. BMO Capital Markets raised their price target on Alphabet from $208.00 to $225.00 and gave the company an “outperform” rating in a research report on Thursday, July 24th. Citigroup reaffirmed an “outperform” rating on shares of Alphabet in a research report on Wednesday, September 3rd. Stifel Nicolaus raised their price target on Alphabet from $200.00 to $218.00 and gave the company a “buy” rating in a research report on Tuesday, July 22nd. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $270.00 price target (up from $235.00) on shares of Alphabet in a research report on Tuesday, September 2nd. Three investment analysts have rated the stock with a Strong Buy rating, thirty-two have issued a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $221.44.

Alphabet Stock Up 0.2%

NASDAQ GOOGL opened at $240.80 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The firm has a 50-day simple moving average of $201.89 and a 200 day simple moving average of $177.51. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $242.25. The stock has a market cap of $2.91 trillion, a PE ratio of 25.64, a PEG ratio of 1.62 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $2.15 by $0.16. The firm had revenue of $96.43 billion during the quarter, compared to analysts’ expectations of $93.60 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. On average, research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be paid 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 0.3%. Alphabet’s dividend payout ratio (DPR) is currently 8.95%.

Insider Buying and Selling at Alphabet

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 shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the transaction, the insider owned 42,999 shares in the company, valued at $8,371,905.30. This trade represents a 35.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John L. Hennessy sold 1,000 shares of the firm’s stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $200.00, for a total transaction of $200,000.00. Following the transaction, the director owned 6,916 shares of the company’s stock, valued at approximately $1,383,200. This represents a 12.63% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 254,710 shares of company stock worth $49,208,380 in the last three months. 11.64% of the stock is currently owned by company insiders.

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.