Truepoint Inc. Increases Stake in Alphabet Inc. (NASDAQ:GOOGL)

Truepoint Inc. lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,730 shares of the information services provider’s stock after buying an additional 115 shares during the quarter. Truepoint Inc.’s holdings in Alphabet were worth $1,274,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Compass Planning Associates Inc acquired a new stake in shares of Alphabet during the 4th quarter worth about $30,000. LMR Partners LLP acquired a new position in Alphabet in the third quarter valued at approximately $32,000. E Fund Management Hong Kong Co. Ltd. increased its stake in Alphabet by 518.8% in the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock valued at $37,000 after purchasing an additional 166 shares during the last quarter. Fiduciary Advisors Inc. acquired a new stake in Alphabet during the fourth quarter worth approximately $39,000. Finally, PayPay Securities Corp boosted its holdings in shares of Alphabet by 36.1% in the 4th quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock valued at $46,000 after buying an additional 65 shares in the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Piper Sandler cut their price target on shares of Alphabet from $210.00 to $208.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 5th. JPMorgan Chase & Co. cut their target price on Alphabet from $232.00 to $220.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. JMP Securities reissued a “market perform” rating on shares of Alphabet in a report on Wednesday, February 5th. Wedbush raised their price target on Alphabet from $210.00 to $220.00 and gave the stock an “outperform” rating in a research note on Monday, January 6th. Finally, Jefferies Financial Group reduced their price objective on Alphabet from $235.00 to $200.00 and set a “buy” rating for the company in a research note on Monday. Ten analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $209.49.

Alphabet Stock Performance

Shares of GOOGL stock opened at $154.64 on Tuesday. The stock has a fifty day moving average price of $178.83 and a 200 day moving average price of $177.10. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. The stock has a market cap of $1.89 trillion, a PE ratio of 19.21, a P/E/G ratio of 1.34 and a beta of 1.02. Alphabet Inc. has a 1 year low of $147.22 and a 1 year high of $207.05.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Sell-side analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.52%. The ex-dividend date was Monday, March 10th. Alphabet’s dividend payout ratio (DPR) is presently 9.94%.

Insider Activity

In other news, insider Ruth Porat sold 17,690 shares of the business’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $183.48, for a total value of $3,245,761.20. Following the completion of the transaction, the insider now directly owns 1,449,286 shares of the company’s stock, valued at $265,914,995.28. The trade was a 1.21 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 1,368 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $191.55, for a total value of $262,040.40. Following the sale, the chief accounting officer now directly owns 20,681 shares in the company, valued at approximately $3,961,445.55. The trade was a 6.20 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 87,992 shares of company stock worth $16,093,773 over the last ninety days. 11.55% of the stock is currently owned by insiders.

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.