TRUE Private Wealth Advisors Sells 89 Shares of Alphabet Inc (NASDAQ:GOOG)

TRUE Private Wealth Advisors decreased its holdings in shares of Alphabet Inc (NASDAQ:GOOG) by 6.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,302 shares of the information services provider’s stock after selling 89 shares during the period. TRUE Private Wealth Advisors’ holdings in Alphabet were worth $1,407,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Nkcfo LLC acquired a new stake in Alphabet during the fourth quarter worth approximately $828,000. CAPROCK Group Inc. increased its holdings in Alphabet by 12.7% in the fourth quarter. CAPROCK Group Inc. now owns 1,378 shares of the information services provider’s stock worth $1,427,000 after purchasing an additional 155 shares in the last quarter. Private Vista LLC increased its holdings in Alphabet by 3.3% in the fourth quarter. Private Vista LLC now owns 472 shares of the information services provider’s stock worth $489,000 after purchasing an additional 15 shares in the last quarter. Ledyard National Bank lifted its stake in Alphabet by 1.3% in the fourth quarter. Ledyard National Bank now owns 5,270 shares of the information services provider’s stock valued at $5,458,000 after buying an additional 69 shares during the period. Finally, Oppenheimer & Co. Inc. lifted its stake in Alphabet by 2.3% in the fourth quarter. Oppenheimer & Co. Inc. now owns 23,627 shares of the information services provider’s stock valued at $24,468,000 after buying an additional 538 shares during the period. 33.98% of the stock is owned by institutional investors and hedge funds.

In related news, Director John L. Hennessy sold 150 shares of Alphabet stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $1,225.00, for a total transaction of $183,750.00. Following the completion of the transaction, the director now directly owns 276 shares of the company’s stock, valued at approximately $338,100. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director John L. Hennessy sold 75 shares of Alphabet stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $1,238.57, for a total transaction of $92,892.75. Following the transaction, the director now directly owns 276 shares of the company’s stock, valued at $341,845.32. The disclosure for this sale can be found here. Insiders sold a total of 2,123 shares of company stock valued at $2,553,758 over the last three months. 12.99% of the stock is currently owned by insiders.



Several brokerages have recently commented on GOOG. Zacks Investment Research raised shares of Alphabet from a “hold” rating to a “buy” rating and set a $1,372.00 price objective for the company in a research report on Wednesday, July 31st. Goldman Sachs Group reiterated a “buy” rating on shares of Alphabet in a research report on Tuesday, July 23rd. Credit Suisse Group increased their target price on shares of Alphabet from $1,400.00 to $1,500.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Deutsche Bank raised their price target on shares of Alphabet from $1,400.00 to $1,475.00 and gave the stock a “buy” rating in a report on Thursday. Finally, UBS Group reaffirmed a “buy” rating on shares of Alphabet in a research note on Friday, July 26th. Three equities research analysts have rated the stock with a hold rating and twenty-eight have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $1,378.93.

GOOG traded up $5.94 during midday trading on Thursday, reaching $1,170.23. 22,513 shares of the company were exchanged, compared to its average volume of 1,719,128. The company has a market cap of $814.54 billion, a P/E ratio of 24.56, a price-to-earnings-growth ratio of 1.29 and a beta of 0.96. Alphabet Inc has a one year low of $970.11 and a one year high of $1,289.27. The stock has a fifty day moving average of $1,155.12. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.96 and a current ratio of 3.98.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Thursday, July 25th. The information services provider reported $14.21 earnings per share for the quarter, beating the Zacks’ consensus estimate of $11.49 by $2.72. The company had revenue of $38.94 billion for the quarter, compared to analyst estimates of $38.21 billion. Alphabet had a return on equity of 20.15% and a net margin of 23.43%. The company’s revenue for the quarter was up 19.3% on a year-over-year basis. During the same quarter last year, the company earned $11.75 earnings per share. On average, sell-side analysts forecast that Alphabet Inc will post 52.1 EPS for the current year.

Alphabet Company Profile

Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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