Twin City Private Wealth LLC Decreases Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Twin City Private Wealth LLC cut its holdings in Alphabet Inc. (NASDAQ:GOOG) by 21.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,896 shares of the information services provider’s stock after selling 1,653 shares during the quarter. Twin City Private Wealth LLC’s holdings in Alphabet were worth $1,123,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Weiss Asset Management LP acquired a new position in shares of Alphabet in the third quarter valued at about $25,000. Fiduciary Advisors Inc. purchased a new position in shares of Alphabet in the fourth quarter worth about $27,000. Safe Harbor Fiduciary LLC purchased a new position in shares of Alphabet in the third quarter worth about $33,000. Mountain Hill Investment Partners Corp. purchased a new position in shares of Alphabet in the fourth quarter worth about $39,000. Finally, Noble Wealth Management PBC purchased a new position in shares of Alphabet in the fourth quarter worth about $43,000. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Stock Performance

Shares of NASDAQ:GOOG opened at $166.25 on Monday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The business’s 50 day moving average price is $184.37 and its 200-day moving average price is $178.22. The firm has a market capitalization of $2.03 trillion, a PE ratio of 20.65, a P/E/G ratio of 1.34 and a beta of 1.03. Alphabet Inc. has a 1 year low of $148.20 and a 1 year high of $208.70.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. As a group, equities research analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.48%. The ex-dividend date was Monday, March 10th. Alphabet’s dividend payout ratio (DPR) is presently 9.94%.

Insider Activity at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 1,368 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $191.55, for a total transaction of $262,040.40. Following the sale, the chief accounting officer now owns 20,681 shares in the company, valued at $3,961,445.55. This represents a 6.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kavitark Ram Shriram sold 29,066 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $184.89, for a total value of $5,374,012.74. Following the sale, 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 93,048 shares of company stock worth $17,374,274. 12.99% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on GOOG shares. Cantor Fitzgerald restated a “neutral” rating on shares of Alphabet in a research note on Wednesday. Benchmark restated a “negative” rating on shares of Alphabet in a research note on Wednesday, February 5th. Wedbush restated an “outperform” rating and issued a $220.00 price objective on shares of Alphabet in a research note on Thursday, January 30th. Scotiabank lifted their price target on Alphabet from $212.00 to $240.00 and gave the company a “sector outperform” rating in a research report on Friday, January 24th. Finally, Oppenheimer lifted their price target on Alphabet from $215.00 to $225.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus price target of $209.13.

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.