tru Independence LLC Increases Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

tru Independence LLC lifted its position in Alphabet Inc. (NASDAQ:GOOG) by 5.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,594 shares of the information services provider’s stock after buying an additional 143 shares during the quarter. tru Independence LLC’s holdings in Alphabet were worth $434,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of GOOG. Abich Financial Wealth Management LLC increased its position in shares of Alphabet by 9,200.0% in the second quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock worth $34,000 after purchasing an additional 184 shares during the last quarter. 1620 Investment Advisors Inc. bought a new position in shares of Alphabet in the second quarter worth approximately $37,000. HWG Holdings LP bought a new position in shares of Alphabet in the second quarter worth approximately $40,000. Sanctuary Wealth Management L.L.C. increased its position in shares of Alphabet by 87.3% in the third quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock worth $42,000 after purchasing an additional 117 shares during the last quarter. Finally, Slocum Gordon & Co LLP bought a new position in shares of Alphabet in the second quarter worth approximately $44,000. 27.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GOOG has been the topic of several research analyst reports. Scotiabank initiated coverage on shares of Alphabet in a research report on Friday, October 11th. They issued a “sector outperform” rating and a $212.00 price objective on the stock. Phillip Securities upgraded shares of Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. Jefferies Financial Group increased their price target on shares of Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. increased their price target on shares of Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Finally, DA Davidson upgraded shares of Alphabet to a “hold” rating in a research report on Tuesday, September 10th. Five analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and an average price target of $200.56.

Insider Buying and Selling

In other news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total transaction of $109,420.08. Following the sale, the chief accounting officer now owns 32,017 shares in the company, valued at approximately $5,136,807.48. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total transaction of $109,420.08. Following the sale, the chief accounting officer now owns 32,017 shares in the company, valued at approximately $5,136,807.48. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Kavitark Ram Shriram sold 10,500 shares of the business’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the sale, the director now owns 330,466 shares in the company, valued at approximately $59,741,643.48. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 241,752 shares of company stock valued at $40,156,829 over the last quarter. 12.99% of the stock is owned by company insiders.

Alphabet Stock Performance

Shares of GOOG stock opened at $181.97 on Tuesday. The stock has a fifty day moving average of $164.92 and a 200 day moving average of $171.27. Alphabet Inc. has a 52 week low of $129.40 and a 52 week high of $193.31. The firm has a market capitalization of $2.23 trillion, a price-to-earnings ratio of 24.13, a PEG ratio of 1.26 and a beta of 1.04. 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:GOOG) last announced its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $86.39 billion. During the same quarter last year, the firm posted $1.55 earnings per share. The firm’s revenue was up 15.1% on a year-over-year basis. As a group, research analysts expect that Alphabet Inc. will post 7.99 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 9th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date is Monday, December 9th. Alphabet’s payout ratio is 10.61%.

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.