Twelve Points Wealth Management LLC Has $835,000 Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Twelve Points Wealth Management LLC decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 24.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. 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 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of GOOG. Weiss Asset Management LP bought a new position in Alphabet in the 3rd quarter worth $25,000. Safe Harbor Fiduciary LLC acquired a new stake in shares of Alphabet in the third quarter valued at about $33,000. Sanctuary Wealth Management L.L.C. increased its stake in shares of Alphabet by 87.3% in the third quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock worth $42,000 after purchasing an additional 117 shares during the period. Iron Horse Wealth Management LLC lifted its position in shares of Alphabet by 32.3% during the 3rd quarter. Iron Horse Wealth Management LLC now owns 344 shares of the information services provider’s stock worth $57,000 after purchasing an additional 84 shares during the last quarter. Finally, Kieckhefer Group LLC bought a new stake in Alphabet during the 4th quarter valued at approximately $76,000. 27.26% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently commented on GOOG shares. Citigroup upped their price target on Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. increased their price target on shares of Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Oppenheimer upped their price objective on shares of Alphabet from $215.00 to $225.00 and gave the company an “outperform” rating in a research report on Thursday. Seaport Res Ptn raised Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Finally, Phillip Securities upgraded Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. Six analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $209.13.

Alphabet Stock Performance

NASDAQ GOOG opened at $205.60 on Friday. Alphabet Inc. has a 1-year low of $131.55 and a 1-year high of $207.08. The company has a 50 day moving average of $189.70 and a 200-day moving average of $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. The firm has a market cap of $2.52 trillion, a price-to-earnings ratio of 27.27, a PEG ratio of 1.27 and a beta of 0.99.

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

Insider Activity

In related news, Director Frances Arnold sold 441 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $171.06, for a total value of $75,437.46. Following the completion of the sale, the director now owns 16,490 shares of the company’s stock, valued at $2,820,779.40. This trade represents a 2.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Kavitark Ram Shriram sold 37,134 shares of the company’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total value of $6,870,532.68. Following the transaction, the director now directly owns 282,832 shares in the company, valued at approximately $52,329,576.64. This represents a 11.61 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 121,630 shares of company stock worth $22,258,133. 12.99% of the stock is owned by corporate 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.