Twin City Private Wealth LLC Raises Position in Alphabet Inc. (NASDAQ:GOOGL)

Twin City Private Wealth LLC lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,722 shares of the information services provider’s stock after acquiring an additional 216 shares during the quarter. Alphabet accounts for about 2.0% of Twin City Private Wealth LLC’s portfolio, making the stock its 19th largest position. Twin City Private Wealth LLC’s holdings in Alphabet were worth $2,219,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Absolute Capital Management LLC raised its position in Alphabet by 14.0% in the 4th quarter. Absolute Capital Management LLC now owns 2,096 shares of the information services provider’s stock valued at $401,000 after purchasing an additional 258 shares in the last quarter. Permanent Capital Management LP purchased a new stake in shares of Alphabet during the fourth quarter worth approximately $273,000. Landscape Capital Management L.L.C. raised its holdings in Alphabet by 27.9% in the third quarter. Landscape Capital Management L.L.C. now owns 25,275 shares of the information services provider’s stock valued at $4,192,000 after acquiring an additional 5,516 shares in the last quarter. Glass Wealth Management Co LLC lifted its stake in Alphabet by 4.5% in the fourth quarter. Glass Wealth Management Co LLC now owns 37,054 shares of the information services provider’s stock worth $7,014,000 after acquiring an additional 1,580 shares during the last quarter. Finally, Olistico Wealth LLC grew its holdings in Alphabet by 9.1% during the 4th quarter. Olistico Wealth LLC now owns 8,981 shares of the information services provider’s stock worth $1,700,000 after acquiring an additional 746 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GOOGL has been the topic of a number of analyst reports. The Goldman Sachs Group restated a “buy” rating and issued a $210.00 price objective on shares of Alphabet in a report on Thursday, December 12th. Rosenblatt Securities restated a “neutral” rating and issued a $205.00 price target on shares of Alphabet in a research note on Wednesday, March 19th. DA Davidson upped their price objective on Alphabet from $190.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday, January 24th. Jefferies Financial Group cut their target price on Alphabet from $235.00 to $200.00 and set a “buy” rating on the stock in a research report on Monday. Finally, Citigroup lowered their price target on Alphabet from $232.00 to $229.00 and set a “buy” rating for the company in a report on Wednesday, February 5th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and five have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $209.49.

Alphabet Price Performance

GOOGL stock opened at $157.04 on Thursday. The firm has a 50 day moving average of $177.19 and a 200-day moving average of $176.95. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The company has a market cap of $1.91 trillion, a price-to-earnings ratio of 19.51, a PEG ratio of 1.34 and a beta of 1.03. Alphabet Inc. has a 12-month low of $147.22 and a 12-month high of $207.05.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. As a group, equities analysts expect that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date was Monday, March 10th. Alphabet’s dividend payout ratio (DPR) is presently 9.94%.

Insiders Place Their Bets

In related news, CAO Amie Thuener O’toole sold 673 shares of Alphabet stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total transaction of $104,537.09. Following the completion of the sale, the chief accounting officer now owns 15,303 shares in the company, valued at approximately $2,377,014.99. This trade represents a 4.21 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kavitark Ram Shriram sold 29,066 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $184.89, for a total transaction of $5,374,012.74. Following the completion of the transaction, the director now owns 272,466 shares in the company, valued at approximately $50,376,238.74. This trade represents a 9.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 87,297 shares of company stock valued at $15,936,270. Corporate insiders own 11.55% of the company’s stock.

Alphabet Company 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.