Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Truepoint Inc.

Truepoint Inc. decreased its position in Alphabet Inc. (NASDAQ:GOOGL) by 20.2% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,138 shares of the information services provider’s stock after selling 1,300 shares during the period. Truepoint Inc.’s holdings in Alphabet were worth $936,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of GOOGL. Nebula Research & Development LLC purchased a new stake in Alphabet in the 4th quarter worth $787,000. New Hampshire Trust grew its position in shares of Alphabet by 2.7% in the second quarter. New Hampshire Trust now owns 43,714 shares of the information services provider’s stock valued at $7,963,000 after purchasing an additional 1,132 shares during the period. Matisse Capital increased its stake in shares of Alphabet by 13.7% during the fourth quarter. Matisse Capital now owns 16,781 shares of the information services provider’s stock worth $2,344,000 after purchasing an additional 2,026 shares in the last quarter. Berkshire Money Management Inc. acquired a new position in shares of Alphabet during the 1st quarter worth about $359,000. Finally, Schneider Downs Wealth Management Advisors LP lifted its stake in Alphabet by 58.4% in the 1st quarter. Schneider Downs Wealth Management Advisors LP now owns 6,374 shares of the information services provider’s stock valued at $962,000 after buying an additional 2,351 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Stock Up 1.5 %

Shares of NASDAQ GOOGL opened at $162.14 on Friday. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. The business’s 50 day moving average is $165.15 and its two-hundred day moving average is $165.11. Alphabet Inc. has a 52-week low of $120.21 and a 52-week high of $191.75. The firm has a market cap of $2.00 trillion, a price-to-earnings ratio of 24.87, a PEG ratio of 1.13 and a beta of 1.04.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The firm had revenue of $84.74 billion for the quarter, compared to the consensus estimate of $70.60 billion. During the same quarter in the previous year, the business earned $1.44 EPS. Research analysts predict that Alphabet Inc. will post 7.64 EPS for the current year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were given a dividend of $0.20 per share. The ex-dividend date was Monday, September 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.49%. Alphabet’s dividend payout ratio is presently 12.27%.

Insider Activity

In other Alphabet news, SVP Prabhakar Raghavan sold 3,262 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $183.99, for a total transaction of $600,175.38. Following the sale, the senior vice president now directly owns 9 shares in the company, valued at approximately $1,655.91. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total transaction of $125,126.54. Following the completion of the transaction, the chief accounting officer now directly owns 30,650 shares of the company’s stock, valued at approximately $5,623,355.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Prabhakar Raghavan sold 3,262 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $183.99, for a total value of $600,175.38. Following the completion of the sale, the senior vice president now directly owns 9 shares in the company, valued at approximately $1,655.91. The disclosure for this sale can be found here. Over the last quarter, insiders sold 180,167 shares of company stock valued at $29,762,606. 11.55% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on GOOGL shares. Tigress Financial increased their target price on Alphabet from $176.00 to $210.00 and gave the company a “strong-buy” rating in a report on Friday, May 24th. Morgan Stanley dropped their price target on Alphabet from $205.00 to $190.00 and set an “overweight” rating for the company in a research report on Tuesday, September 3rd. Jefferies Financial Group raised their price objective on Alphabet from $215.00 to $220.00 in a report on Tuesday, July 9th. Argus lifted their target price on shares of Alphabet from $200.00 to $215.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Finally, Loop Capital reiterated a “hold” rating and issued a $170.00 target price on shares of Alphabet in a research report on Wednesday, July 3rd. Eight investment analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $201.08.

About Alphabet

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.