Twelve Points Wealth Management LLC Buys 410 Shares of Alphabet Inc. $GOOG

Twelve Points Wealth Management LLC grew its stake in Alphabet Inc. (NASDAQ:GOOG) by 8.3% during the 2nd quarter, HoldingsChannel reports. The fund owned 5,364 shares of the information services provider’s stock after purchasing an additional 410 shares during the quarter. Twelve Points Wealth Management LLC’s holdings in Alphabet were worth $952,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in GOOG. Brighton Jones LLC boosted its holdings in Alphabet by 5.6% in the fourth quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider’s stock worth $22,901,000 after acquiring an additional 6,410 shares in the last quarter. Revisor Wealth Management LLC boosted its holdings in Alphabet by 107.9% in the first quarter. Revisor Wealth Management LLC now owns 3,659 shares of the information services provider’s stock worth $572,000 after acquiring an additional 1,899 shares in the last quarter. Investors Research Corp lifted its holdings in shares of Alphabet by 252.2% during the first quarter. Investors Research Corp now owns 2,863 shares of the information services provider’s stock valued at $447,000 after purchasing an additional 2,050 shares in the last quarter. Ables Iannone Moore & Associates Inc. lifted its holdings in shares of Alphabet by 1.6% during the first quarter. Ables Iannone Moore & Associates Inc. now owns 15,019 shares of the information services provider’s stock valued at $2,346,000 after purchasing an additional 236 shares in the last quarter. Finally, Cerro Pacific Wealth Advisors LLC lifted its holdings in shares of Alphabet by 2.1% during the first quarter. Cerro Pacific Wealth Advisors LLC now owns 5,542 shares of the information services provider’s stock valued at $866,000 after purchasing an additional 114 shares in the last quarter. 27.26% of the stock is owned by institutional investors.

Alphabet Stock Up 0.2%

GOOG stock opened at $247.18 on Monday. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $256.70. The business’s 50-day moving average is $216.61 and its two-hundred day moving average is $184.53. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The company has a market cap of $2.99 trillion, a price-to-earnings ratio of 26.32, a P/E/G ratio of 1.67 and a beta of 1.01.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $0.19. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The company had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.67 billion. During the same quarter in the prior year, the company earned $1.89 earnings per share. Alphabet’s revenue was up 13.8% on a year-over-year basis. As a group, analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were given a $0.21 dividend. The ex-dividend date was Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. Alphabet’s dividend payout ratio is presently 8.95%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on GOOG. UBS Group upped their price target on Alphabet from $186.00 to $192.00 and gave the company a “neutral” rating in a report on Wednesday, July 16th. Robert W. Baird upped their price target on Alphabet from $215.00 to $275.00 and gave the company an “outperform” rating in a report on Monday, September 22nd. Raymond James Financial reaffirmed an “outperform” rating and set a $210.00 price target (up from $185.00) on shares of Alphabet in a report on Thursday, July 24th. Pivotal Research upped their price target on Alphabet from $245.00 to $300.00 and gave the company a “buy” rating in a report on Wednesday, September 3rd. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $270.00 price target (up from $235.00) on shares of Alphabet in a report on Wednesday, September 3rd. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, five have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $230.35.

Insiders Place Their Bets

In other Alphabet news, Director John L. Hennessy sold 600 shares of the company’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $249.44, for a total value of $149,664.00. Following the completion of the sale, the director owned 5,716 shares in the company, valued at $1,425,799.04. This represents a 9.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,778 shares of the company’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $245.00, for a total value of $680,610.00. Following the completion of the sale, the chief accounting officer owned 17,293 shares of the company’s stock, valued at approximately $4,236,785. The trade was a 13.84% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 257,866 shares of company stock valued at $52,363,610. 12.99% of the stock is currently owned by corporate insiders.

About Alphabet

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.