TRU Independence Asset Management 2 LLC Purchases 771 Shares of Alphabet Inc. (NASDAQ:GOOGL)

TRU Independence Asset Management 2 LLC increased its position in Alphabet Inc. (NASDAQ:GOOGL) by 15.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,716 shares of the information services provider’s stock after acquiring an additional 771 shares during the quarter. Alphabet comprises approximately 0.9% of TRU Independence Asset Management 2 LLC’s holdings, making the stock its 29th biggest position. TRU Independence Asset Management 2 LLC’s holdings in Alphabet were worth $1,082,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. State Street Corp increased its holdings in shares of Alphabet by 0.3% in the third quarter. State Street Corp now owns 222,555,548 shares of the information services provider’s stock worth $36,910,838,000 after purchasing an additional 743,369 shares during the last quarter. Geode Capital Management LLC raised its position in Alphabet by 2.0% during the third quarter. Geode Capital Management LLC now owns 134,030,679 shares of the information services provider’s stock valued at $22,154,651,000 after purchasing an additional 2,626,431 shares during the period. JPMorgan Chase & Co. raised its position in Alphabet by 7.7% during the third quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider’s stock valued at $10,559,240,000 after purchasing an additional 4,567,275 shares during the period. Fisher Asset Management LLC raised its holdings in shares of Alphabet by 2.5% in the third quarter. Fisher Asset Management LLC now owns 49,857,900 shares of the information services provider’s stock worth $8,268,933,000 after buying an additional 1,237,385 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Alphabet by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 37,233,079 shares of the information services provider’s stock worth $6,175,106,000 after buying an additional 523,416 shares during the period. 40.03% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Wells Fargo & Company increased their price target on Alphabet from $187.00 to $190.00 and gave the stock an “equal weight” rating in a report on Monday, January 13th. Royal Bank of Canada increased their price objective on Alphabet from $204.00 to $210.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. JMP Securities reissued a “market perform” rating on shares of Alphabet in a research note on Monday, January 27th. Piper Sandler reaffirmed an “overweight” rating and set a $210.00 target price (up previously from $200.00) on shares of Alphabet in a research report on Wednesday, October 30th. Finally, KeyCorp increased their target price on Alphabet from $215.00 to $225.00 and gave the company an “overweight” rating in a research report on Friday, January 10th. Nine analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $211.00.

Insiders Place Their Bets

In related news, CAO Amie Thuener O’toole sold 1,340 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $202.08, for a total transaction of $270,787.20. Following the completion of the transaction, the chief accounting officer now owns 17,848 shares in the company, valued at approximately $3,606,723.84. The trade was a 6.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $177.36, for a total transaction of $3,990,600.00. Following the completion of the transaction, the chief executive officer now owns 2,084,306 shares of the company’s stock, valued at $369,672,512.16. This represents a 1.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 122,529 shares of company stock worth $22,453,483 over the last 90 days. Corporate insiders own 11.55% of the company’s stock.

Alphabet Stock Down 1.4 %

Shares of NASDAQ GOOGL opened at $201.23 on Tuesday. The business’s 50 day moving average is $188.97 and its two-hundred day moving average is $174.03. The firm has a market cap of $2.46 trillion, a price-to-earnings ratio of 26.69, a PEG ratio of 1.31 and a beta of 0.99. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 52-week low of $130.66 and a 52-week high of $205.48.

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.