Twin Lakes Capital Management LLC Invests $1.22 Million in Alphabet Inc. (NASDAQ:GOOGL)

Twin Lakes Capital Management LLC purchased a new stake in Alphabet Inc. (NASDAQ:GOOGLGet Rating) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 12,700 shares of the information services provider’s stock, valued at approximately $1,215,000.

Other hedge funds have also added to or reduced their stakes in the company. Financial Enhancement Group LLC bought a new position in shares of Alphabet during the first quarter valued at about $31,000. Horizons Wealth Management bought a new position in shares of Alphabet during the 2nd quarter worth approximately $33,000. Schubert & Co boosted its position in Alphabet by 1,200.0% in the third quarter. Schubert & Co now owns 364 shares of the information services provider’s stock worth $35,000 after purchasing an additional 336 shares during the last quarter. Carolina Wealth Advisors LLC grew its position in shares of Alphabet by 1,900.0% during the 3rd quarter. Carolina Wealth Advisors LLC now owns 400 shares of the information services provider’s stock valued at $38,000 after acquiring an additional 380 shares during the period. Finally, Advocacy Wealth Management Services LLC increased its stake in shares of Alphabet by 72.7% during the 2nd quarter. Advocacy Wealth Management Services LLC now owns 19 shares of the information services provider’s stock worth $41,000 after purchasing an additional 8 shares during the last quarter. Institutional investors and hedge funds own 34.06% of the company’s stock.

Insider Buying and Selling at Alphabet

In related news, major shareholder 2019 Gp L.L.C. Gv acquired 800,000 shares of the stock in a transaction on Monday, October 24th. The stock was acquired at an average price of $17.00 per share, for a total transaction of $13,600,000.00. Following the completion of the purchase, the insider now owns 11,522,248 shares of the company’s stock, valued at $195,878,216. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, major shareholder 2019 Gp L.L.C. Gv acquired 800,000 shares of Alphabet stock in a transaction on Monday, October 24th. The stock was acquired at an average cost of $17.00 per share, for a total transaction of $13,600,000.00. Following the purchase, the insider now owns 11,522,248 shares in the company, valued at $195,878,216. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder 2021 Gp L.L.C. Gv bought 277,493 shares of the company’s stock in a transaction dated Friday, November 4th. The stock was purchased at an average price of $36.01 per share, for a total transaction of $9,992,522.93. Following the purchase, the insider now owns 870,895 shares of the company’s stock, valued at approximately $31,360,928.95. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 1,461,702 shares of company stock valued at $36,999,217 and sold 190,744 shares valued at $8,564,640. Insiders own 11.44% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on GOOGL. Atlantic Securities reduced their price objective on Alphabet to $115.00 in a report on Thursday, October 27th. Robert W. Baird lowered their price objective on Alphabet to $120.00 in a research note on Thursday, October 27th. StockNews.com began coverage on shares of Alphabet in a research note on Wednesday, October 12th. They issued a “hold” rating for the company. Rosenblatt Securities cut their price objective on shares of Alphabet from $156.00 to $130.00 and set a “buy” rating for the company in a report on Wednesday, October 26th. Finally, Sanford C. Bernstein cut their price target on Alphabet from $130.00 to $120.00 and set an “outperform” rating for the company in a report on Wednesday, October 26th. Five research analysts have rated the stock with a hold rating, thirty-two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $132.00.

Alphabet Stock Performance

Shares of GOOGL stock opened at $91.52 on Thursday. The stock has a fifty day moving average of $92.56 and a 200 day moving average of $102.52. The company has a quick ratio of 2.47, a current ratio of 2.52 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $1.18 trillion, a price-to-earnings ratio of 18.17, a PEG ratio of 1.53 and a beta of 1.09. Alphabet Inc. has a 52 week low of $83.34 and a 52 week high of $151.55.

Alphabet (NASDAQ:GOOGLGet Rating) last released its earnings results on Tuesday, October 25th. The information services provider reported $1.06 earnings per share for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.19). Alphabet had a return on equity of 26.41% and a net margin of 23.75%. The business had revenue of $57.27 billion during the quarter, compared to analysts’ expectations of $58.36 billion. During the same period in the prior year, the company earned $1.40 earnings per share. As a group, research analysts expect that Alphabet Inc. will post 4.68 earnings per share for the current year.

About Alphabet

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Alphabet Inc provides 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 offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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