TrueWealth Financial Partners Makes New $891,000 Investment in Alphabet Inc. $GOOGL

TrueWealth Financial Partners acquired a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL) in the 1st quarter, Holdings Channel.com reports. The fund acquired 3,099 shares of the information services provider’s stock, valued at approximately $891,000. Alphabet accounts for about 0.4% of TrueWealth Financial Partners’ portfolio, making the stock its 24th largest position.

Other large investors have also recently made changes to their positions in the company. EMC Capital Management purchased a new position in shares of Alphabet in the fourth quarter valued at $33,000. Lifetime Wealth Management P.C. purchased a new stake in Alphabet during the fourth quarter valued at $32,000. IFC & Insurance Marketing Inc. purchased a new stake in Alphabet during the fourth quarter valued at $38,000. Bard Associates Inc. bought a new position in Alphabet during the fourth quarter valued at $52,000. Finally, Kentucky Trust Co grew its stake in shares of Alphabet by 142.9% in the 4th quarter. Kentucky Trust Co now owns 170 shares of the information services provider’s stock worth $53,000 after buying an additional 100 shares in the last quarter. 40.03% of the stock is owned by institutional investors.

Alphabet Trading Down 1.0%

GOOGL opened at $354.30 on Friday. The stock’s fifty day moving average is $355.68 and its two-hundred day moving average is $340.41. The company has a market capitalization of $4.33 trillion, a P/E ratio of 17.80, a PEG ratio of 1.00 and a beta of 1.24. Alphabet Inc. has a 52 week low of $196.60 and a 52 week high of $408.61. The company has a quick ratio of 2.64, a current ratio of 2.72 and a debt-to-equity ratio of 0.16.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Wednesday, July 22nd. The information services provider reported $9.11 earnings per share for the quarter, topping the consensus estimate of $2.89 by $6.22. Alphabet had a return on equity of 51.32% and a net margin of 54.77%.The business had revenue of $119.80 billion during the quarter, compared to analysts’ expectations of $117.07 billion. Analysts forecast that Alphabet Inc. will post 20.51 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Investors of record on Monday, September 7th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $0.88 dividend on an annualized basis and a yield of 0.2%. Alphabet’s dividend payout ratio is 4.42%.

Wall Street Analyst Weigh In

GOOGL has been the topic of a number of research reports. New Street Research boosted their target price on shares of Alphabet from $450.00 to $455.00 and gave the stock a “buy” rating in a report on Friday, June 5th. DZ Bank upgraded Alphabet to a “strong-buy” rating in a research report on Thursday, July 23rd. Morgan Stanley set a $400.00 price objective on Alphabet and gave the stock an “overweight” rating in a research note on Thursday, July 23rd. Royal Bank Of Canada restated an “outperform” rating and set a $425.00 price objective on shares of Alphabet in a research report on Thursday, July 23rd. Finally, Sanford C. Bernstein reiterated a “market perform” rating and issued a $390.00 target price (up from $345.00) on shares of Alphabet in a report on Thursday, April 30th. Six research analysts have rated the stock with a Strong Buy rating, forty-four have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $419.86.

Key Stories Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Google Cloud revenue reportedly increased 82% in the second quarter, with backlog reaching $514 billion, while the Gemini app reached approximately 950 million monthly active users. The results reinforce the commercial demand supporting Alphabet’s AI and cloud investments. Google’s AI business is booming, so why are DeepMind’s biggest names quitting?
• Positive Sentiment: Analysts and investors continue to highlight Alphabet’s strong cash generation, balance sheet and valuation relative to its growth prospects. Some market models see the shares reaching $400 as Cloud momentum and AI monetization continue. Price Prediction: Google Will Hit $400 on This Date
• Positive Sentiment: Alphabet’s expanded Google Cloud partnership with AI lab Mirendil, reportedly worth more than $100 million over multiple years, provides another example of demand for its computing infrastructure. Mirendil Google Cloud deal

Insiders Place Their Bets

In other news, major shareholder 2019 Gp L.L.C. Gv sold 196,931 shares of the company’s stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $19.46, for a total value of $3,832,277.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John Kent Walker sold 8,998 shares of the stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $349.29, for a total transaction of $3,142,911.42. Following the transaction, the insider owned 75,290 shares in the company, valued at approximately $26,298,044.10. This represents a 10.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 600,547 shares of company stock worth $16,255,540 in the last three months. Corporate insiders own 11.61% of the company’s stock.

About Alphabet

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.