Truepoint Inc. Buys 177 Shares of Alphabet Inc. (NASDAQ:GOOG)

Truepoint Inc. boosted its stake in Alphabet Inc. (NASDAQ:GOOG) by 6.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,017 shares of the information services provider’s stock after acquiring an additional 177 shares during the quarter. Truepoint Inc.’s holdings in Alphabet were worth $504,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Abich Financial Wealth Management LLC lifted its position in Alphabet by 9,200.0% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock worth $34,000 after buying an additional 184 shares in the last quarter. 1620 Investment Advisors Inc. bought a new stake in Alphabet during the 2nd quarter worth about $37,000. HWG Holdings LP bought a new stake in Alphabet during the 2nd quarter worth about $40,000. Sanctuary Wealth Management L.L.C. lifted its position in Alphabet by 87.3% during the 3rd quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock worth $42,000 after buying an additional 117 shares in the last quarter. Finally, Slocum Gordon & Co LLP bought a new stake in Alphabet during the 2nd quarter worth about $44,000. 27.26% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on GOOG. Wells Fargo & Company boosted their price target on shares of Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Barclays boosted their price target on shares of Alphabet from $200.00 to $220.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Phillip Securities raised shares of Alphabet to a “strong-buy” rating in a report on Friday, November 1st. Pivotal Research upped their target price on shares of Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, Citigroup upped their target price on shares of Alphabet from $212.00 to $216.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Five analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and a consensus price target of $200.56.

Alphabet Stock Down 1.6 %

Shares of GOOG opened at $166.57 on Friday. Alphabet Inc. has a 52 week low of $129.40 and a 52 week high of $193.31. The firm has a market cap of $2.04 trillion, a P/E ratio of 22.09, a price-to-earnings-growth ratio of 1.18 and a beta of 1.04. The firm’s 50-day simple moving average is $169.10 and its 200 day simple moving average is $171.86. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The business had revenue of $88.27 billion for the quarter, compared to analyst estimates of $86.39 billion. During the same quarter in the prior year, the business earned $1.55 EPS. Alphabet’s quarterly revenue was up 15.1% on a year-over-year basis. On average, analysts forecast that Alphabet Inc. will post 8.01 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total value of $109,420.08. Following the completion of the transaction, the chief accounting officer now owns 32,017 shares of the company’s stock, valued at $5,136,807.48. This represents a 2.09 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $158.68, for a total transaction of $3,570,300.00. Following the completion of the transaction, the chief executive officer now directly owns 2,137,385 shares of the company’s stock, valued at approximately $339,160,251.80. The trade was a 1.04 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 206,795 shares of company stock valued at $34,673,866. Company insiders own 12.99% of the company’s stock.

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.