Alphabet Inc. (NASDAQ:GOOG) Shares Acquired by Truepoint Inc.

Truepoint Inc. lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 6.2% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,017 shares of the information services provider’s stock after purchasing an additional 177 shares during the quarter. Truepoint Inc.’s holdings in Alphabet were worth $504,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Twelve Points Wealth Management LLC lifted its stake in Alphabet by 0.7% during the second quarter. Twelve Points Wealth Management LLC now owns 7,985 shares of the information services provider’s stock worth $1,465,000 after purchasing an additional 55 shares during the period. PCG Wealth Advisors LLC lifted its stake in Alphabet by 3.1% during the second quarter. PCG Wealth Advisors LLC now owns 1,880 shares of the information services provider’s stock worth $345,000 after purchasing an additional 57 shares during the period. Investment Advisory Services Inc. TX ADV lifted its stake in Alphabet by 1.6% during the second quarter. Investment Advisory Services Inc. TX ADV now owns 3,636 shares of the information services provider’s stock worth $667,000 after purchasing an additional 57 shares during the period. Advisors Management Group Inc. ADV lifted its stake in Alphabet by 2.0% during the second quarter. Advisors Management Group Inc. ADV now owns 2,944 shares of the information services provider’s stock worth $540,000 after purchasing an additional 58 shares during the period. Finally, Shira Ridge Wealth Management lifted its stake in Alphabet by 0.4% during the second quarter. Shira Ridge Wealth Management now owns 15,490 shares of the information services provider’s stock worth $2,841,000 after purchasing an additional 60 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $176.67, for a total value of $3,975,075.00. Following the completion of the transaction, the chief executive officer now owns 2,061,806 shares of the company’s stock, valued at $364,259,266.02. The trade was a 1.08 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kavitark Ram Shriram sold 10,500 shares of the business’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the completion of the transaction, the director now directly owns 330,466 shares of the company’s stock, valued at $59,741,643.48. This trade represents a 3.08 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 206,795 shares of company stock valued at $34,673,866. Company insiders own 12.99% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on GOOG. Scotiabank began coverage on shares of Alphabet in a research note on Friday, October 11th. They set a “sector outperform” rating and a $212.00 price target for the company. Barclays lifted their target price on shares of Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. DA Davidson upgraded shares of Alphabet to a “hold” rating in a research note on Tuesday, September 10th. Wells Fargo & Company lifted their target price on shares of Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Five analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $200.56.

Alphabet Price Performance

GOOG opened at $166.57 on Friday. The company has a fifty day moving average price of $169.10 and a two-hundred day moving average price of $171.86. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. Alphabet Inc. has a 52 week low of $129.40 and a 52 week high of $193.31. The firm has a market capitalization of $2.04 trillion, a PE ratio of 22.09, a P/E/G ratio of 1.18 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last released its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The firm had revenue of $88.27 billion during the quarter, compared to analyst estimates of $86.39 billion. During the same quarter in the previous year, the business earned $1.55 EPS. The business’s quarterly revenue was up 15.1% compared to the same quarter last year. As a group, analysts anticipate that Alphabet Inc. will post 8.01 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date is Monday, December 9th. Alphabet’s dividend payout ratio is presently 10.61%.

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.