Twelve Points Wealth Management LLC Boosts Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Twelve Points Wealth Management LLC boosted its position in Alphabet Inc. (NASDAQ:GOOGL) by 6.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,410 shares of the information services provider’s stock after buying an additional 399 shares during the period. Twelve Points Wealth Management LLC’s holdings in Alphabet were worth $991,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. von Borstel & Associates Inc. acquired a new position in shares of Alphabet during the 1st quarter worth $28,000. Elite Financial Inc. purchased a new stake in Alphabet in the 1st quarter valued at about $42,000. Anderson Financial Strategies LLC acquired a new position in shares of Alphabet during the 4th quarter valued at about $49,000. EQ Wealth Advisors LLC acquired a new position in shares of Alphabet during the 1st quarter valued at about $49,000. Finally, Navigoe LLC acquired a new position in shares of Alphabet during the 4th quarter valued at about $51,000. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total transaction of $5,801,900.00. Following the transaction, the chief executive officer directly owned 2,559,892 shares of the company’s stock, valued at approximately $456,991,919.84. This trade represents a 1.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kavitark Ram Shriram sold 10,500 shares of the firm’s stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $1,837,500.00. Following the transaction, the director directly owned 261,966 shares in the company, valued at $45,844,050. This trade represents a 3.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 182,943 shares of company stock valued at $31,223,348. Company insiders own 11.55% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Susquehanna dropped their target price on shares of Alphabet from $225.00 to $220.00 and set a “positive” rating for the company in a research report on Friday, April 25th. Morgan Stanley dropped their target price on shares of Alphabet from $210.00 to $185.00 and set an “overweight” rating for the company in a research report on Thursday, April 17th. Wedbush set a $190.00 target price on shares of Alphabet and gave the stock an “outperform” rating in a research report on Tuesday, April 15th. JPMorgan Chase & Co. decreased their price target on Alphabet from $220.00 to $180.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Finally, Roth Mkm restated a “buy” rating and issued a $220.00 price target on shares of Alphabet in a report on Wednesday, March 19th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and an average price target of $199.82.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $182.00 on Wednesday. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $207.05. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77. The business’s fifty day moving average price is $171.04 and its two-hundred day moving average price is $173.13. The firm has a market capitalization of $2.21 trillion, a PE ratio of 20.29, a P/E/G ratio of 1.27 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.79. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The firm had revenue of $76.49 billion for the quarter, compared to analyst estimates of $89.30 billion. During the same period last year, the company earned $1.89 earnings per share. On average, research analysts expect that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.46%. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date was Monday, June 9th. Alphabet’s dividend payout ratio (DPR) is 9.36%.

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.