Twin City Private Wealth LLC Lowers Stake in Alphabet Inc. (NASDAQ:GOOG)

Twin City Private Wealth LLC trimmed its stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 21.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,896 shares of the information services provider's stock after selling 1,653 shares during the period. Twin City Private Wealth LLC's holdings in Alphabet were worth $1,123,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GOOG. Fiduciary Advisors Inc. acquired a new stake in Alphabet during the 4th quarter worth $27,000. Weiss Asset Management LP purchased a new stake in Alphabet during the 3rd quarter valued at approximately $25,000. Safe Harbor Fiduciary LLC purchased a new stake in Alphabet during the 3rd quarter valued at approximately $33,000. Mountain Hill Investment Partners Corp. acquired a new stake in Alphabet during the 4th quarter worth approximately $39,000. Finally, Noble Wealth Management PBC purchased a new position in shares of Alphabet in the 4th quarter valued at approximately $43,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O'toole sold 1,368 shares of the company's stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $191.55, for a total value of $262,040.40. Following the completion of the transaction, the chief accounting officer now directly owns 20,681 shares in the company, valued at approximately $3,961,445.55. This represents a 6.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 200 shares of the firm's stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $165.53, for a total value of $33,106.00. Following the completion of the sale, the director now directly owns 7,813 shares in the company, valued at approximately $1,293,285.89. The trade was a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 93,048 shares of company stock worth $17,374,274 over the last ninety days. 12.99% of the stock is currently owned by corporate insiders.

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Alphabet Price Performance

GOOG traded up $2.86 during midday trading on Tuesday, reaching $172.79. 13,777,238 shares of the company's stock were exchanged, compared to its average volume of 17,844,933. The business's 50-day moving average price is $183.93 and its 200 day moving average price is $178.30. The stock has a market capitalization of $2.11 trillion, a PE ratio of 21.46, a P/E/G ratio of 1.34 and a beta of 1.03. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. Alphabet Inc. has a 1-year low of $148.20 and a 1-year high of $208.70.

Alphabet (NASDAQ:GOOG - Get Free Report) last released its quarterly earnings results 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 analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.46%. Alphabet's dividend payout ratio is currently 9.94%.

Analyst Upgrades and Downgrades

GOOG has been the subject of several recent research reports. Cantor Fitzgerald reaffirmed a "neutral" rating on shares of Alphabet in a report on Wednesday, March 19th. Benchmark restated a "negative" rating on shares of Alphabet in a research note on Wednesday, February 5th. Rosenblatt Securities reaffirmed a "neutral" rating on shares of Alphabet in a report on Wednesday, March 19th. Morgan Stanley restated an "overweight" rating on shares of Alphabet in a research report on Wednesday, February 5th. Finally, Oppenheimer boosted their target price on Alphabet from $215.00 to $225.00 and gave the stock an "outperform" rating in a research report on Thursday, January 30th. One 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 company's stock. Based on data from MarketBeat.com, Alphabet has a consensus rating of "Moderate Buy" and an average price target of $209.13.

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.