Twin City Private Wealth LLC Has $2.13 Million Stock Holdings in Alphabet Inc. $GOOGL

Twin City Private Wealth LLC reduced its stake in Alphabet Inc. (NASDAQ:GOOGL) by 2.6% in the 2nd quarter, HoldingsChannel reports. The firm owned 12,090 shares of the information services provider’s stock after selling 318 shares during the quarter. Alphabet makes up 1.7% of Twin City Private Wealth LLC’s portfolio, making the stock its 20th biggest position. Twin City Private Wealth LLC’s holdings in Alphabet were worth $2,131,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Guardian Wealth Management Inc. boosted its holdings in Alphabet by 242.9% in the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock worth $26,000 after acquiring an additional 119 shares in the last quarter. IMA Advisory Services Inc. bought a new stake in shares of Alphabet during the first quarter valued at approximately $28,000. NBZ Investment Advisors LLC raised its position in shares of Alphabet by 85.7% during the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock worth $30,000 after purchasing an additional 90 shares during the period. Financial Gravity Asset Management Inc. bought a new position in shares of Alphabet in the 1st quarter worth $39,000. Finally, CarsonAllaria Wealth Management Ltd. grew its position in Alphabet by 36.4% in the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider’s stock valued at $44,000 after purchasing an additional 67 shares during the period. Institutional investors own 40.03% of the company’s stock.

Alphabet Trading Down 1.6%

Shares of GOOGL stock opened at $286.71 on Thursday. 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 capitalization of $3.46 trillion, a price-to-earnings ratio of 28.28, a PEG ratio of 1.86 and a beta of 1.05. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $292.01. The company has a 50-day simple moving average of $255.49 and a two-hundred day simple moving average of $207.29.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, topping the consensus estimate of $2.29 by $0.58. The firm had revenue of $102.35 billion for the quarter, compared to analysts’ expectations of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. Research analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 8th will be given a $0.21 dividend. The ex-dividend date of this dividend is Monday, December 8th. This represents a $0.84 annualized dividend and a yield of 0.3%. Alphabet’s payout ratio is currently 8.28%.

Analysts Set New Price Targets

A number of research firms have weighed in on GOOGL. Needham & Company LLC raised their price objective on shares of Alphabet from $260.00 to $330.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Cantor Fitzgerald upped their target price on shares of Alphabet from $265.00 to $310.00 and gave the stock a “neutral” rating in a report on Thursday, October 30th. Moffett Nathanson raised their price target on shares of Alphabet from $295.00 to $305.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. JMP Securities reiterated a “market outperform” rating and set a $290.00 price target on shares of Alphabet in a research note on Wednesday, October 22nd. Finally, Westpark Capital boosted their price objective on Alphabet from $210.00 to $220.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-seven have given a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $304.10.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 2,778 shares of the company’s stock in a transaction on 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 transaction, the chief accounting officer owned 17,293 shares in the company, valued at $4,236,785. This represents a 13.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John Kent Walker sold 17,816 shares of the firm’s stock in a transaction on Monday, September 29th. The shares were sold at an average price of $247.42, for a total value of $4,408,034.72. Following the sale, the insider directly owned 42,985 shares of the company’s stock, valued at approximately $10,635,348.70. This represents a 29.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 221,796 shares of company stock valued at $53,983,001. 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.