TrueWealth Financial Partners Takes Position in Alphabet Inc. $GOOGL

TrueWealth Financial Partners acquired a new position in Alphabet Inc. (NASDAQ:GOOGL) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 3,099 shares of the information services provider’s stock, valued at approximately $891,000. Alphabet makes up approximately 0.4% of TrueWealth Financial Partners’ holdings, making the stock its 24th biggest position.

A number of other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in Alphabet by 2.4% during the fourth quarter. Vanguard Group Inc. now owns 528,969,322 shares of the information services provider’s stock valued at $165,567,398,000 after purchasing an additional 12,531,695 shares during the period. State Street Corp raised its stake in Alphabet by 1.8% during the 2nd quarter. State Street Corp now owns 229,954,269 shares of the information services provider’s stock valued at $40,524,841,000 after buying an additional 4,008,374 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Alphabet by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 146,193,037 shares of the information services provider’s stock valued at $45,625,595,000 after buying an additional 2,666,676 shares during the period. Norges Bank purchased a new position in shares of Alphabet in the 4th quarter worth $30,534,239,000. Finally, Bank of America Corp DE grew its holdings in shares of Alphabet by 4.9% in the fourth quarter. Bank of America Corp DE now owns 69,108,183 shares of the information services provider’s stock worth $21,630,861,000 after acquiring an additional 3,218,852 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on GOOGL. Canaccord Genuity Group increased their target price on Alphabet from $415.00 to $450.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Arete Research upped their price target on shares of Alphabet from $405.00 to $425.00 and gave the company a “buy” rating in a research report on Monday, May 18th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Alphabet in a research note on Tuesday, April 28th. Bank of America raised their price objective on shares of Alphabet from $370.00 to $430.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Finally, China Renaissance upped their target price on shares of Alphabet from $400.00 to $485.00 and gave the company a “buy” rating in a report on Monday, May 4th. 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 company. According to data from MarketBeat, Alphabet has an average rating of “Buy” and an average price target of $419.86.

Alphabet Stock Performance

GOOGL opened at $354.30 on Friday. The firm has a market cap 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 1-year low of $196.60 and a 1-year high of $408.61. The company has a 50 day simple moving average of $355.68 and a two-hundred day simple moving average of $340.41. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.72 and a quick ratio of 2.64.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Wednesday, July 22nd. The information services provider reported $9.11 EPS for the quarter, beating the consensus estimate of $2.89 by $6.22. Alphabet had a net margin of 54.77% and a return on equity of 51.32%. The firm had revenue of $119.80 billion for the quarter, compared to the consensus estimate of $117.07 billion. Equities analysts forecast that Alphabet Inc. will post 20.51 earnings per share for the current fiscal year.

Alphabet Announces Dividend

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

Insiders Place Their Bets

In related news, major shareholder 2019 Gp L.L.C. Gv sold 118,138 shares of the stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $18.90, for a total transaction of $2,232,808.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Marsida Saraci sold 449 shares of Alphabet stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $333.20, for a total value of $149,606.80. Following the sale, the chief accounting officer directly owned 27,386 shares in the company, valued at $9,125,015.20. This trade represents a 1.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 600,547 shares of company stock valued at $16,255,540 in the last ninety days. Insiders own 11.61% of the company’s stock.

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

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.