Alphabet Inc (NASDAQ:GOOGL) Shares Sold by Twin Capital Management Inc.

Twin Capital Management Inc. cut its stake in shares of Alphabet Inc (NASDAQ:GOOGL) by 30.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 25,323 shares of the information services provider’s stock after selling 11,085 shares during the period. Alphabet makes up 1.9% of Twin Capital Management Inc.’s holdings, making the stock its 4th biggest holding. Twin Capital Management Inc.’s holdings in Alphabet were worth $27,420,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Kavar Capital Partners LLC boosted its stake in shares of Alphabet by 10.5% in the second quarter. Kavar Capital Partners LLC now owns 5,159 shares of the information services provider’s stock valued at $5,586,000 after purchasing an additional 489 shares during the period. Redmond Asset Management LLC boosted its stake in shares of Alphabet by 3.1% in the second quarter. Redmond Asset Management LLC now owns 2,543 shares of the information services provider’s stock valued at $2,754,000 after purchasing an additional 77 shares during the period. Watch Point Trust Co boosted its stake in shares of Alphabet by 38.3% in the second quarter. Watch Point Trust Co now owns 2,703 shares of the information services provider’s stock valued at $2,926,000 after purchasing an additional 749 shares during the period. Executive Wealth Management LLC boosted its stake in shares of Alphabet by 9.1% in the second quarter. Executive Wealth Management LLC now owns 2,013 shares of the information services provider’s stock valued at $2,180,000 after purchasing an additional 168 shares during the period. Finally, White Pine Investment CO boosted its stake in shares of Alphabet by 2.2% in the second quarter. White Pine Investment CO now owns 7,363 shares of the information services provider’s stock valued at $7,973,000 after purchasing an additional 159 shares during the period. Institutional investors and hedge funds own 33.96% of the company’s stock.

Several research analysts have recently commented on GOOGL shares. KeyCorp reissued an “overweight” rating and issued a $1,516.00 price objective (up previously from $1,430.00) on shares of Alphabet in a research note on Friday, July 26th. JPMorgan Chase & Co. raised their price objective on shares of Alphabet from $1,310.00 to $1,420.00 and gave the company a “positive” rating in a research note on Friday, July 26th. Jefferies Financial Group raised their price objective on shares of Alphabet from $1,450.00 to $1,500.00 and gave the company a “buy” rating in a research note on Friday, July 26th. They noted that the move was a valuation call. Stifel Nicolaus reissued a “hold” rating and issued a $1,287.00 price objective on shares of Alphabet in a research note on Tuesday, July 23rd. Finally, Canaccord Genuity raised their price objective on shares of Alphabet from $1,250.00 to $1,350.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Eight analysts have rated the stock with a hold rating and thirty-two have given a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $1,371.05.



Shares of NASDAQ:GOOGL traded up $9.89 during trading on Friday, hitting $1,179.21. 1,245,800 shares of the company were exchanged, compared to its average volume of 1,840,052. The stock has a market capitalization of $810.80 billion, a P/E ratio of 24.82, a PEG ratio of 1.29 and a beta of 0.97. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.98 and a quick ratio of 3.96. Alphabet Inc has a 12-month low of $977.66 and a 12-month high of $1,296.97. The firm’s 50 day moving average price is $1,159.77 and its 200-day moving average price is $1,158.17.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Thursday, July 25th. The information services provider reported $14.21 earnings per share for the quarter, topping the consensus estimate of $11.49 by $2.72. The business had revenue of $31.71 billion during the quarter, compared to the consensus estimate of $30.90 billion. Alphabet had a net margin of 23.43% and a return on equity of 20.15%. As a group, equities research analysts anticipate that Alphabet Inc will post 51.94 EPS for the current year.

Alphabet Company Profile

Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.

Featured Story: Coverage Ratio

Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc (NASDAQ:GOOGL).

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.