Twin Capital Management Inc. Has $22.89 Million Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Key Points

• Twin Capital Management Inc. has decreased its stake in Alphabet Inc. (NASDAQ:GOOGL) by 3.2% in the first quarter, making it the firm's 5th largest position, worth approximately $22.89 million.
• A number of hedge funds have increased their positions in Alphabet, with Integrated Capital Management LLC increasing its stake by 6.9% during the same quarter.
• Alphabet recently announced a quarterly dividend of $0.21 per share, representing an annualized yield of 0.43%, with a payout ratio of 8.95%.

Twin Capital Management Inc. decreased its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 3.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 148,025 shares of the information services provider's stock after selling 4,876 shares during the quarter. Alphabet accounts for approximately 2.7% of Twin Capital Management Inc.'s portfolio, making the stock its 5th largest position. Twin Capital Management Inc.'s holdings in Alphabet were worth $22,891,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in GOOGL. Eagle Capital Management LLC grew its stake in Alphabet by 0.7% during the 4th quarter. Eagle Capital Management LLC now owns 50,132 shares of the information services provider's stock worth $9,490,000 after purchasing an additional 371 shares in the last quarter. Brighton Jones LLC boosted its stake in shares of Alphabet by 3.9% in the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider's stock valued at $20,886,000 after buying an additional 4,110 shares during the period. Revolve Wealth Partners LLC grew its position in shares of Alphabet by 3.5% during the fourth quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider's stock worth $2,826,000 after buying an additional 506 shares in the last quarter. Highview Capital Management LLC DE increased its stake in shares of Alphabet by 3.6% during the fourth quarter. Highview Capital Management LLC DE now owns 29,100 shares of the information services provider's stock worth $5,509,000 after buying an additional 1,003 shares during the period. Finally, Hudson Value Partners LLC increased its stake in shares of Alphabet by 22.7% during the fourth quarter. Hudson Value Partners LLC now owns 73,282 shares of the information services provider's stock worth $13,873,000 after buying an additional 13,564 shares during the period. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $184.38, for a total transaction of $5,992,350.00. Following the sale, the chief executive officer owned 2,527,392 shares in the company, valued at approximately $466,000,536.96. This represents a 1.27% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kavitark Ram Shriram sold 18,566 shares of the firm's stock in a transaction on Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $3,448,820.16. Following the transaction, the director directly owned 243,400 shares of the company's stock, valued at $45,213,984. The trade was a 7.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 249,298 shares of company stock valued at $43,505,967 over the last quarter. Corporate insiders own 11.64% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Citizens Jmp upgraded Alphabet from a "market perform" rating to an "outperform" rating and set a $220.00 target price for the company in a research note on Friday, June 27th. Sanford C. Bernstein upped their target price on shares of Alphabet from $185.00 to $195.00 and gave the company a "market perform" rating in a report on Tuesday, July 22nd. BNP Paribas lowered shares of Alphabet from a "strong-buy" rating to a "hold" rating in a research note on Thursday, June 26th. Susquehanna boosted their price target on shares of Alphabet from $220.00 to $225.00 and gave the company a "positive" rating in a research report on Thursday, July 24th. Finally, Morgan Stanley raised their price objective on Alphabet from $185.00 to $205.00 and gave the stock an "overweight" rating in a report on Monday, July 21st. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $211.39.

Alphabet Price Performance

Alphabet stock traded up $0.78 during trading hours on Wednesday, hitting $196.53. The stock had a trading volume of 32,265,287 shares, compared to its average volume of 37,021,776. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $207.05. The stock has a market capitalization of $2.38 trillion, a price-to-earnings ratio of 20.93, a PEG ratio of 1.30 and a beta of 1.00. The stock's fifty day moving average is $177.49 and its two-hundred day moving average is $173.11. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet's payout ratio is currently 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.