tru Independence LLC Acquires New Shares in Alphabet Inc. (NASDAQ:GOOGL)

tru Independence LLC acquired a new stake in Alphabet Inc. (NASDAQ:GOOGL) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,397 shares of the information services provider’s stock, valued at approximately $254,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. MorganRosel Wealth Management LLC lifted its holdings in Alphabet by 3.6% in the second quarter. MorganRosel Wealth Management LLC now owns 1,620 shares of the information services provider’s stock valued at $295,000 after acquiring an additional 57 shares during the period. Hengehold Capital Management LLC lifted its holdings in Alphabet by 0.8% in the second quarter. Hengehold Capital Management LLC now owns 7,224 shares of the information services provider’s stock valued at $1,316,000 after acquiring an additional 60 shares during the period. Christopher J. Hasenberg Inc lifted its holdings in Alphabet by 75.0% in the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after acquiring an additional 60 shares during the period. Joseph P. Lucia & Associates LLC lifted its holdings in Alphabet by 1.0% in the first quarter. Joseph P. Lucia & Associates LLC now owns 6,624 shares of the information services provider’s stock valued at $1,000,000 after acquiring an additional 64 shares during the period. Finally, Sunflower Bank N.A. lifted its holdings in Alphabet by 1.0% in the second quarter. Sunflower Bank N.A. now owns 6,309 shares of the information services provider’s stock valued at $1,149,000 after acquiring an additional 65 shares during the period. 40.03% of the stock is currently owned by institutional investors.

Alphabet Stock Performance

NASDAQ GOOGL opened at $163.59 on Friday. The stock has a market cap of $2.02 trillion, a PE ratio of 25.09, a P/E/G ratio of 1.13 and a beta of 1.04. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a twelve month low of $120.21 and a twelve month high of $191.75. The stock has a fifty day simple moving average of $164.72 and a 200-day simple moving average of $165.55.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. The business had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $70.60 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. During the same period in the prior year, the business posted $1.44 EPS. Equities analysts anticipate that Alphabet Inc. will post 7.64 earnings per share for the current year.

Alphabet Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Mizuho boosted their price target on Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Loop Capital reaffirmed a “hold” rating and set a $170.00 target price on shares of Alphabet in a research note on Wednesday, July 3rd. JPMorgan Chase & Co. upped their target price on Alphabet from $200.00 to $208.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. UBS Group upped their target price on Alphabet from $200.00 to $204.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $210.00 target price on shares of Alphabet in a research note on Friday, August 30th. Eight equities research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $201.08.

Insider Buying and Selling

In related news, Director John L. Hennessy sold 1,500 shares of the stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $185.85, for a total transaction of $278,775.00. Following the transaction, the director now owns 30,824 shares of the company’s stock, valued at approximately $5,728,640.40. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, Director John L. Hennessy sold 1,500 shares of the stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $185.85, for a total transaction of $278,775.00. Following the transaction, the director now owns 30,824 shares of the company’s stock, valued at approximately $5,728,640.40. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 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. In the last 90 days, insiders have sold 180,167 shares of company stock valued at $29,762,606. Corporate insiders own 11.55% of the company’s stock.

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.