TRUE Private Wealth Advisors Trims Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

TRUE Private Wealth Advisors reduced its holdings in Alphabet Inc. (NASDAQ:GOOG) by 5.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,079 shares of the information services provider’s stock after selling 1,005 shares during the quarter. TRUE Private Wealth Advisors’ holdings in Alphabet were worth $2,548,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in GOOG. Totem Point Management LLC grew its stake in shares of Alphabet by 22.0% in the first quarter. Totem Point Management LLC now owns 3,171 shares of the information services provider’s stock valued at $8,857,000 after buying an additional 571 shares in the last quarter. Somerville Kurt F grew its stake in shares of Alphabet by 10.3% in the first quarter. Somerville Kurt F now owns 118 shares of the information services provider’s stock valued at $330,000 after buying an additional 11 shares in the last quarter. BCK Partners Inc. acquired a new stake in shares of Alphabet in the first quarter valued at about $2,564,000. Hall Capital Management Co. Inc. grew its stake in shares of Alphabet by 53.2% in the first quarter. Hall Capital Management Co. Inc. now owns 144 shares of the information services provider’s stock valued at $402,000 after buying an additional 50 shares in the last quarter. Finally, Fairfield Bush & CO. grew its stake in shares of Alphabet by 6.8% in the first quarter. Fairfield Bush & CO. now owns 3,370 shares of the information services provider’s stock valued at $9,412,000 after buying an additional 214 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director John L. Hennessy sold 800 shares of the stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $159.56, for a total transaction of $127,648.00. Following the sale, the director now directly owns 7,991 shares in the company, valued at approximately $1,275,043.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $157.41, for a total value of $3,541,725.00. Following the sale, the chief executive officer now directly owns 2,303,011 shares in the company, valued at approximately $362,516,961.51. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 800 shares of the firm’s stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $159.56, for a total value of $127,648.00. Following the completion of the sale, the director now owns 7,991 shares in the company, valued at $1,275,043.96. The disclosure for this sale can be found here. Insiders have sold a total of 251,339 shares of company stock valued at $36,377,482 in the last quarter. Insiders own 12.99% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOG has been the subject of a number of recent research reports. Raymond James increased their target price on Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a research note on Wednesday, January 24th. Susquehanna increased their target price on Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a research note on Wednesday, January 31st. Stifel Nicolaus increased their price target on Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a report on Tuesday. Morgan Stanley reissued an “overweight” rating and issued a $165.00 price target on shares of Alphabet in a report on Thursday, April 11th. Finally, Oppenheimer increased their price target on Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a report on Monday, April 8th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Alphabet has a consensus rating of “Buy” and an average price target of $159.86.

Alphabet Trading Up 0.4 %

NASDAQ:GOOG opened at $157.46 on Friday. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.05. The business’s 50 day moving average is $147.35 and its two-hundred day moving average is $141.72. Alphabet Inc. has a 52 week low of $103.27 and a 52 week high of $161.70. The company has a market cap of $1.96 trillion, a PE ratio of 27.15, a P/E/G ratio of 1.45 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last released its earnings results on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The company had revenue of $86.31 billion for the quarter, compared to the consensus estimate of $85.28 billion. During the same quarter last year, the business posted $1.05 EPS. Alphabet’s quarterly revenue was up 13.5% compared to the same quarter last year. On average, analysts predict that Alphabet Inc. will post 6.78 EPS for the current year.

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.