TruNorth Capital Management LLC Sells 60 Shares of Alphabet Inc. (NASDAQ:GOOGL)

TruNorth Capital Management LLC reduced its stake in Alphabet Inc. (NASDAQ:GOOGL) by 2.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,908 shares of the information services provider’s stock after selling 60 shares during the quarter. TruNorth Capital Management LLC’s holdings in Alphabet were worth $550,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of GOOGL. JPMorgan Chase & Co. grew its position in shares of Alphabet by 7.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider’s stock worth $10,559,240,000 after purchasing an additional 4,567,275 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Alphabet during the 3rd quarter worth approximately $513,024,000. Geode Capital Management LLC grew its position in shares of Alphabet by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 134,030,679 shares of the information services provider’s stock worth $22,154,651,000 after purchasing an additional 2,626,431 shares in the last quarter. National Bank of Canada FI boosted its position in shares of Alphabet by 26.9% during the 3rd quarter. National Bank of Canada FI now owns 10,064,598 shares of the information services provider’s stock worth $1,669,300,000 after acquiring an additional 2,136,128 shares in the last quarter. Finally, Darsana Capital Partners LP acquired a new stake in shares of Alphabet during the 3rd quarter worth approximately $331,700,000. 40.03% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on GOOGL shares. DA Davidson increased their price target on shares of Alphabet from $190.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday, January 24th. Wolfe Research increased their price target on shares of Alphabet from $220.00 to $230.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Citigroup reduced their price target on shares of Alphabet from $232.00 to $229.00 and set a “buy” rating on the stock in a research report on Wednesday, February 5th. Bank of America reiterated a “buy” rating and set a $210.00 price target on shares of Alphabet in a research report on Monday, December 23rd. Finally, Morgan Stanley reduced their price target on shares of Alphabet from $215.00 to $210.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $210.62.

Insiders Place Their Bets

In other Alphabet news, insider Ruth Porat sold 17,690 shares of the firm’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $183.48, for a total value of $3,245,761.20. Following the completion of the sale, the insider now directly owns 1,449,286 shares in the company, valued at approximately $265,914,995.28. This trade represents a 1.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 1,340 shares of Alphabet stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $202.08, for a total transaction of $270,787.20. Following the transaction, the chief accounting officer now owns 17,848 shares of the company’s stock, valued at $3,606,723.84. This represents a 6.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 134,316 shares of company stock worth $25,062,887. 11.55% of the stock is currently owned by company insiders.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $173.86 on Monday. Alphabet Inc. has a twelve month low of $134.00 and a twelve month high of $207.05. The firm has a fifty day simple moving average of $188.21 and a 200 day simple moving average of $176.54. The company has a market capitalization of $2.12 trillion, a PE ratio of 21.60, a P/E/G ratio of 1.34 and a beta of 1.02. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOGL) 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 net margin of 28.60% and a return on equity of 32.49%. On average, sell-side analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date is Monday, March 10th. Alphabet’s payout ratio is 9.94%.

Alphabet Company 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.