Truvestments Capital LLC Boosts Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Truvestments Capital LLC lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 126.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,100 shares of the information services provider’s stock after buying an additional 8,445 shares during the quarter. Truvestments Capital LLC’s holdings in Alphabet were worth $2,504,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Christopher J. Hasenberg Inc boosted its holdings in shares of Alphabet by 75.0% in the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after acquiring an additional 60 shares during the period. LMR Partners LLP purchased a new stake in Alphabet during the 3rd quarter worth about $32,000. Kings Path Partners LLC bought a new position in Alphabet in the 2nd quarter worth about $36,000. Denver PWM LLC purchased a new position in Alphabet during the 2nd quarter valued at about $41,000. Finally, Quarry LP bought a new stake in shares of Alphabet during the second quarter valued at about $53,000. 40.03% of the stock is owned by institutional investors.

Insider Activity at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $176.67, for a total transaction of $3,975,075.00. Following the sale, the chief executive officer now owns 2,061,806 shares of the company’s stock, valued at approximately $364,259,266.02. The trade was a 1.08 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,835 shares of the stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total transaction of $429,587.55. Following the completion of the transaction, the chief accounting officer now directly owns 29,182 shares of the company’s stock, valued at approximately $4,421,948.46. The trade was a 8.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 163,624 shares of company stock worth $27,803,730 over the last quarter. 11.55% of the stock is owned by corporate insiders.

Alphabet Trading Up 1.2 %

Shares of GOOGL opened at $174.71 on Monday. The firm has a fifty day simple moving average of $169.51 and a two-hundred day simple moving average of $170.20. Alphabet Inc. has a twelve month low of $129.68 and a twelve month high of $191.75. The stock has a market capitalization of $2.14 trillion, a P/E ratio of 23.17, a PEG ratio of 1.24 and a beta of 1.01. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The company had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $72.85 billion. During the same period last year, the firm earned $1.55 earnings per share. On average, research analysts anticipate that Alphabet Inc. will post 8.01 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be paid a dividend of $0.20 per share. The ex-dividend date is Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.46%. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on GOOGL shares. BMO Capital Markets restated an “outperform” rating and issued a $217.00 price objective (up from $215.00) on shares of Alphabet in a research report on Wednesday, October 30th. Roth Mkm raised their price target on shares of Alphabet from $206.00 to $212.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Truist Financial increased their price objective on Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Evercore ISI lifted their price objective on Alphabet from $200.00 to $205.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, Pivotal Research upped their target price on Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Seven equities research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $205.90.

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.