Twelve Points Wealth Management LLC Acquires 410 Shares of Alphabet Inc. $GOOG

Twelve Points Wealth Management LLC grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 8.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,364 shares of the information services provider’s stock after acquiring an additional 410 shares during the quarter. Twelve Points Wealth Management LLC’s holdings in Alphabet were worth $952,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of GOOG. ACT Advisors LLC. lifted its position in Alphabet by 3.5% in the 2nd quarter. ACT Advisors LLC. now owns 1,625 shares of the information services provider’s stock worth $288,000 after buying an additional 55 shares during the last quarter. LongView Wealth Management lifted its position in Alphabet by 1.1% in the 2nd quarter. LongView Wealth Management now owns 5,126 shares of the information services provider’s stock worth $909,000 after buying an additional 56 shares during the last quarter. Kooman & Associates lifted its position in Alphabet by 1.4% in the 2nd quarter. Kooman & Associates now owns 4,127 shares of the information services provider’s stock worth $732,000 after buying an additional 56 shares during the last quarter. Colton Groome Financial Advisors LLC lifted its position in Alphabet by 3.4% in the 2nd quarter. Colton Groome Financial Advisors LLC now owns 1,742 shares of the information services provider’s stock worth $309,000 after buying an additional 57 shares during the last quarter. Finally, NCM Capital Management LLC lifted its position in Alphabet by 2.2% in the 1st quarter. NCM Capital Management LLC now owns 2,802 shares of the information services provider’s stock worth $438,000 after buying an additional 60 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on GOOG. Robert W. Baird boosted their target price on Alphabet from $215.00 to $275.00 and gave the stock an “outperform” rating in a research report on Monday, September 22nd. Raymond James Financial restated an “outperform” rating and issued a $210.00 target price (up previously from $185.00) on shares of Alphabet in a research report on Thursday, July 24th. Lake Street Capital reiterated a “buy” rating on shares of Alphabet in a research report on Wednesday, July 9th. Phillip Securities downgraded Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research report on Monday, September 8th. Finally, Citizens Jmp upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Thursday, June 26th. Four analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $230.35.

Insiders Place Their Bets

In related news, CAO Amie Thuener O’toole sold 2,778 shares of the company’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $245.00, for a total value of $680,610.00. Following the sale, the chief accounting officer directly owned 17,293 shares of the company’s stock, valued at $4,236,785. This represents a 13.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider John Kent Walker sold 23,820 shares of the company’s stock in a transaction on Monday, August 4th. The stock was sold at an average price of $194.70, for a total value of $4,637,754.00. Following the completion of the sale, the insider directly owned 42,999 shares in the company, valued at approximately $8,371,905.30. The trade was a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 257,866 shares of company stock valued at $52,363,610 over the last three months. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Stock Performance

Shares of GOOG stock opened at $247.18 on Monday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $256.70. The company has a market capitalization of $2.99 trillion, a P/E ratio of 26.32, a PEG ratio of 1.67 and a beta of 1.01. The stock has a 50 day moving average price of $216.61 and a two-hundred day moving average price of $184.53.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.19. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The firm had revenue of $96.43 billion for the quarter, compared to analysts’ expectations of $93.67 billion. During the same period in the previous year, the firm earned $1.89 earnings per share. The business’s revenue was up 13.8% compared to the same quarter last year. Analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. Alphabet’s payout ratio is 8.95%.

Alphabet Company 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.