Twelve Points Wealth Management LLC Sells 1,389 Shares of Alphabet Inc. (NASDAQ:GOOG)

Twelve Points Wealth Management LLC cut its stake in Alphabet Inc. (NASDAQ:GOOG) by 24.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,383 shares of the information services provider’s stock after selling 1,389 shares during the quarter. Twelve Points Wealth Management LLC’s holdings in Alphabet were worth $835,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of GOOG. M&G PLC acquired a new position in shares of Alphabet in the third quarter valued at approximately $2,240,000. Coldstream Capital Management Inc. raised its stake in shares of Alphabet by 14.4% in the 3rd quarter. Coldstream Capital Management Inc. now owns 116,776 shares of the information services provider’s stock valued at $19,642,000 after purchasing an additional 14,738 shares during the period. Metis Global Partners LLC lifted its holdings in shares of Alphabet by 1.4% in the third quarter. Metis Global Partners LLC now owns 301,980 shares of the information services provider’s stock valued at $50,488,000 after purchasing an additional 4,292 shares in the last quarter. Requisite Capital Management LLC acquired a new position in shares of Alphabet during the fourth quarter worth about $927,000. Finally, Stevens Capital Management LP grew its holdings in shares of Alphabet by 172.9% during the third quarter. Stevens Capital Management LP now owns 91,237 shares of the information services provider’s stock worth $15,254,000 after buying an additional 57,810 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on GOOG shares. UBS Group upped their price target on Alphabet from $187.00 to $192.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Barclays raised their target price on shares of Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Jefferies Financial Group increased their price objective on shares of Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. upped their target price on Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Finally, Oppenheimer raised their price target on Alphabet from $215.00 to $225.00 and gave the company an “outperform” rating in a research note on Thursday. Six analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $209.13.

Insider Buying and Selling

In other news, CAO Amie Thuener O’toole sold 2,834 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $194.32, for a total transaction of $550,702.88. Following the transaction, the chief accounting officer now directly owns 17,847 shares of the company’s stock, valued at approximately $3,468,029.04. This trade represents a 13.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $194.22, for a total value of $291,330.00. Following the completion of the sale, the director now owns 23,324 shares of the company’s stock, valued at approximately $4,529,987.28. This trade represents a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 121,630 shares of company stock valued at $22,258,133. 12.99% of the stock is owned by company insiders.

Alphabet Price Performance

Alphabet stock opened at $205.60 on Friday. The company has a market capitalization of $2.52 trillion, a price-to-earnings ratio of 27.27, a PEG ratio of 1.27 and a beta of 0.99. The stock’s 50 day moving average is $189.70 and its 200-day moving average is $175.54. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 12 month low of $131.55 and a 12 month high of $207.08.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.29. The firm had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The company’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same quarter last year, the business earned $1.55 EPS. Equities research analysts expect that Alphabet Inc. will post 8.02 EPS for the current year.

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.