TRU Independence Asset Management 2 LLC Raises Position in Alphabet Inc. (NASDAQ:GOOGL)

TRU Independence Asset Management 2 LLC boosted its stake in Alphabet Inc. (NASDAQ:GOOGL) by 15.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,716 shares of the information services provider’s stock after buying an additional 771 shares during the quarter. Alphabet makes up approximately 0.9% of TRU Independence Asset Management 2 LLC’s portfolio, making the stock its 29th largest holding. TRU Independence Asset Management 2 LLC’s holdings in Alphabet were worth $1,082,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bennett Selby Investments LP boosted its stake in Alphabet by 4.0% during the 4th quarter. Bennett Selby Investments LP now owns 1,354 shares of the information services provider’s stock valued at $256,000 after purchasing an additional 52 shares during the period. Conrad Siegel Investment Advisors Inc. raised its holdings in shares of Alphabet by 0.5% during the fourth quarter. Conrad Siegel Investment Advisors Inc. now owns 9,845 shares of the information services provider’s stock valued at $1,864,000 after acquiring an additional 53 shares during the period. Denver PWM LLC increased its stake in Alphabet by 25.4% in the 3rd quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock valued at $47,000 after buying an additional 57 shares during the period. Ignite Planners LLC grew its position in Alphabet by 0.4% in the fourth quarter. Ignite Planners LLC now owns 15,078 shares of the information services provider’s stock worth $2,892,000 after acquiring an additional 57 shares in the last quarter. Finally, Fermata Advisors LLC grew its position in Alphabet by 0.8% in the fourth quarter. Fermata Advisors LLC now owns 7,433 shares of the information services provider’s stock worth $1,407,000 after acquiring an additional 57 shares in the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 1,340 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $202.08, for a total transaction of $270,787.20. Following the completion of the transaction, the chief accounting officer now owns 17,848 shares in the company, valued at $3,606,723.84. This represents a 6.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John Kent Walker sold 16,820 shares of the company’s stock in a transaction on Monday, December 30th. The stock was 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 disclosure for this sale can be found here. Insiders sold 122,529 shares of company stock worth $22,453,483 in the last quarter. 11.55% of the stock is owned by insiders.

Wall Street Analyst Weigh In

GOOGL has been the subject of several research analyst reports. Wells Fargo & Company upped their target price on shares of Alphabet from $187.00 to $190.00 and gave the company an “equal weight” rating in a research note on Monday, January 13th. Seaport Res Ptn raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Bank of America reissued a “buy” rating and set a $210.00 price objective on shares of Alphabet in a research note on Monday, December 23rd. Royal Bank of Canada raised their target price on shares of Alphabet from $204.00 to $210.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, Morgan Stanley lifted their price objective on shares of Alphabet from $205.00 to $215.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Nine analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $211.00.

Alphabet Stock Down 1.4 %

Shares of NASDAQ GOOGL opened at $201.23 on Tuesday. The business has a 50-day moving average of $188.97 and a 200-day moving average of $174.03. The firm has a market capitalization of $2.46 trillion, a price-to-earnings ratio of 26.69, a PEG ratio of 1.31 and a beta of 0.99. Alphabet Inc. has a 12 month low of $130.66 and a 12 month high of $205.48. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04.

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.