Twelve Points Wealth Management LLC Trims Stake in Alphabet Inc. (NASDAQ:GOOGL)

Twelve Points Wealth Management LLC cut its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 6.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,011 shares of the information services provider’s stock after selling 399 shares during the period. Twelve Points Wealth Management LLC’s holdings in Alphabet were worth $1,138,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in GOOGL. State Street Corp lifted its holdings in Alphabet by 0.3% during the 3rd quarter. State Street Corp now owns 222,555,548 shares of the information services provider’s stock valued at $36,910,838,000 after buying an additional 743,369 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Alphabet by 2.0% during the third quarter. Geode Capital Management LLC now owns 134,030,679 shares of the information services provider’s stock worth $22,154,651,000 after acquiring an additional 2,626,431 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Alphabet by 7.7% during the third quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider’s stock valued at $10,559,240,000 after acquiring an additional 4,567,275 shares in the last quarter. Fisher Asset Management LLC boosted its holdings in shares of Alphabet by 2.5% in the third quarter. Fisher Asset Management LLC now owns 49,857,900 shares of the information services provider’s stock valued at $8,268,933,000 after purchasing an additional 1,237,385 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in Alphabet by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 37,233,079 shares of the information services provider’s stock worth $6,175,106,000 after purchasing an additional 523,416 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors.

Alphabet Trading Down 7.3 %

Shares of Alphabet stock opened at $191.33 on Thursday. The stock has a market cap of $2.34 trillion, a PE ratio of 25.38, a price-to-earnings-growth ratio of 1.31 and a beta of 0.99. The firm has a fifty day moving average price of $190.39 and a 200 day moving average price of $174.40. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. Alphabet Inc. has a 1 year low of $130.66 and a 1 year high of $207.05.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. Equities research analysts predict that Alphabet Inc. will post 8.02 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have weighed in on GOOGL. China Renaissance raised Alphabet from a “hold” rating to a “buy” rating in a research report on Thursday, October 31st. 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. JPMorgan Chase & Co. cut their target price on shares of Alphabet from $232.00 to $220.00 and set an “overweight” rating on the stock in a research report on Wednesday. JMP Securities reaffirmed a “market perform” rating on shares of Alphabet in a research report on Wednesday. Finally, DA Davidson increased their price objective on shares of Alphabet from $190.00 to $200.00 and gave the company a “neutral” rating in a research note on Friday, January 24th. Nine analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $210.95.

Insider Activity at Alphabet

In other news, CAO Amie Thuener O’toole sold 1,340 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $202.08, for a total value of $270,787.20. Following the transaction, the chief accounting officer now directly owns 17,848 shares of the company’s stock, valued at approximately $3,606,723.84. This trade represents a 6.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $176.67, for a total value of $3,975,075.00. Following the completion of the sale, the chief executive officer now owns 2,061,806 shares of the company’s stock, valued at $364,259,266.02. This trade represents a 1.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 89,529 shares of company stock valued at $16,600,078. 11.55% of the stock is owned by company 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.