Truvestments Capital LLC Has $2.02 Million Holdings in Alphabet Inc. (NASDAQ:GOOG)

Truvestments Capital LLC increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 13.7% during the 4th quarter, HoldingsChannel.com reports. The institutional investor 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.

Other hedge funds have also added to or reduced their stakes in the company. Weiss Asset Management LP acquired a new stake in Alphabet during the 3rd quarter worth $25,000. Fiduciary Advisors Inc. acquired a new stake in shares of Alphabet in the 4th quarter valued at about $27,000. Safe Harbor Fiduciary LLC acquired a new stake in shares of Alphabet in the 3rd quarter valued at about $33,000. Noble Wealth Management PBC acquired a new stake in shares of Alphabet in the 4th quarter valued at about $43,000. Finally, FPC Investment Advisory Inc. raised its stake in shares of Alphabet by 287.9% in the 4th quarter. FPC Investment Advisory Inc. now owns 225 shares of the information services provider’s stock valued at $46,000 after purchasing an additional 167 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Trading Up 1.8 %

Alphabet stock opened at $169.00 on Thursday. 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. The stock has a market capitalization of $2.06 trillion, a P/E ratio of 20.99, a PEG ratio of 1.34 and a beta of 1.03. The stock has a 50-day simple moving average of $188.44 and a 200 day simple moving average of $178.02.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Announces Dividend

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

Insiders Place Their Bets

In other news, insider John Kent Walker sold 16,820 shares of Alphabet stock in a transaction that occurred 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 sale, the insider now directly owns 43,981 shares in the company, valued at approximately $8,471,620.22. The trade was a 27.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 1,340 shares of Alphabet stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $202.08, for a total transaction of $270,787.20. Following the completion of the sale, the chief accounting officer now owns 17,848 shares of the company’s stock, valued at approximately $3,606,723.84. The trade was a 6.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 95,682 shares of company stock worth $17,901,024 over the last three months. Insiders own 12.99% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Benchmark reissued a “negative” rating on shares of Alphabet in a research note on Wednesday, February 5th. The Goldman Sachs Group reissued a “buy” rating on shares of Alphabet in a research note on Wednesday, February 5th. Wedbush reissued an “outperform” rating and issued a $220.00 price target on shares of Alphabet in a research note on Thursday, January 30th. Oppenheimer lifted their price target on Alphabet from $215.00 to $225.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Finally, Scotiabank raised their price objective on Alphabet from $212.00 to $240.00 and gave the company a “sector outperform” rating in a report on Friday, January 24th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $209.13.

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.