Truvestments Capital LLC Increases Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Truvestments Capital LLC grew its stake in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 1,891.6% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 5,895 shares of the information services provider’s stock after buying an additional 5,599 shares during the quarter. Truvestments Capital LLC’s holdings in Alphabet were worth $564,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Spreng Capital Management Inc. boosted its position in Alphabet by 4.0% in the 1st quarter. Spreng Capital Management Inc. now owns 131 shares of the information services provider’s stock worth $364,000 after purchasing an additional 5 shares in the last quarter. West Family Investments Inc. raised its stake in Alphabet by 0.3% in the 1st quarter. West Family Investments Inc. now owns 1,754 shares of the information services provider’s stock valued at $4,878,000 after purchasing an additional 6 shares during the last quarter. Maple Capital Management Inc. raised its stake in Alphabet by 2.1% in the 1st quarter. Maple Capital Management Inc. now owns 296 shares of the information services provider’s stock valued at $823,000 after purchasing an additional 6 shares during the last quarter. Private Advisory Group LLC raised its stake in Alphabet by 1.8% in the 1st quarter. Private Advisory Group LLC now owns 401 shares of the information services provider’s stock valued at $1,115,000 after purchasing an additional 7 shares during the last quarter. Finally, Weik Capital Management raised its stake in Alphabet by 0.5% in the 1st quarter. Weik Capital Management now owns 1,533 shares of the information services provider’s stock valued at $4,264,000 after purchasing an additional 8 shares during the last quarter. Institutional investors and hedge funds own 34.06% of the company’s stock.

Alphabet Stock Up 3.1 %

Shares of NASDAQ:GOOGL opened at $93.97 on Wednesday. The company has a market capitalization of $1.20 trillion, a P/E ratio of 20.65, a P/E/G ratio of 1.25 and a beta of 1.09. The stock’s fifty day simple moving average is $94.35 and its 200-day simple moving average is $96.30. Alphabet Inc. has a 52-week low of $83.34 and a 52-week high of $143.79. The company has a quick ratio of 2.34, a current ratio of 2.38 and a debt-to-equity ratio of 0.06.

Alphabet (NASDAQ:GOOGL – Get Rating) last issued its earnings results on Thursday, February 2nd. The information services provider reported $1.05 earnings per share for the quarter, missing the consensus estimate of $1.14 by ($0.09). Alphabet had a return on equity of 23.54% and a net margin of 21.20%. The company had revenue of $76.05 billion during the quarter, compared to analysts’ expectations of $63.15 billion. During the same period in the previous year, the company earned $1.53 EPS. As a group, equities research analysts forecast that Alphabet Inc. will post 5.12 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently commented on GOOGL. MKM Partners increased their price objective on Alphabet from $120.00 to $126.00 in a research note on Friday, February 3rd. JMP Securities reaffirmed a “market outperform” rating and issued a $132.00 target price on shares of Alphabet in a research note on Friday, February 3rd. Jefferies Financial Group reaffirmed a “buy” rating and issued a $130.00 target price on shares of Alphabet in a research note on Friday, February 10th. Rosenblatt Securities cut their target price on Alphabet from $130.00 to $128.00 and set a “buy” rating for the company in a research note on Friday, February 3rd. Finally, New Street Research assumed coverage on Alphabet in a research note on Wednesday, January 4th. They issued a “buy” rating and a $118.00 target price for the company. Five investment analysts have rated the stock with a hold rating, thirty-three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and an average price target of $132.32.

Insider Transactions at Alphabet

In related news, Director Ann Mather sold 380 shares of the stock in a transaction dated Tuesday, December 27th. The stock was sold at an average price of $89.24, for a total value of $33,911.20. Following the completion of the transaction, the director now owns 11,300 shares of the company’s stock, valued at $1,008,412. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Alphabet news, CAO Amie Thuener O’toole sold 637 shares of the stock in a transaction that occurred on Wednesday, February 1st. The stock was sold at an average price of $99.87, for a total transaction of $63,617.19. Following the transaction, the chief accounting officer now owns 25,282 shares of the company’s stock, valued at approximately $2,524,913.34. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Ann Mather sold 380 shares of the stock in a transaction that occurred on Tuesday, December 27th. The stock was sold at an average price of $89.24, for a total value of $33,911.20. Following the transaction, the director now directly owns 11,300 shares in the company, valued at approximately $1,008,412. The disclosure for this sale can be found here. Insiders sold 36,745 shares of company stock valued at $3,424,078 over the last quarter. Company insiders own 11.44% of the company’s stock.

Alphabet Company Profile

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Alphabet, Inc engages in the business of delivering online advertising, cloud-based solutions that provide enterprise customers with infrastructure and platform services, the provision of communication and collaboration tools, and sales of other products and services such as apps and in-app purchases, hardware, and subscription-based products.