Twin Lakes Capital Management LLC Sells 1,796 Shares of Alphabet Inc. $GOOG

Key Points

• Twin Lakes Capital Management LLC reduced its stake in Alphabet Inc. by 39.7% during the first quarter, selling 1,796 shares, leaving them with 2,733 shares valued at approximately $427,000.
• Several analysts have adjusted their ratings on Alphabet, with BNP Paribas downgrading the stock from "strong-buy" to "hold," while Oppenheimer raised their price target to $270.00.
• Alphabet announced a quarterly dividend of $0.21 per share, set to be paid on September 15th, which reflects an annualized yield of 0.4%.

Twin Lakes Capital Management LLC lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 39.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,733 shares of the information services provider's stock after selling 1,796 shares during the quarter. Twin Lakes Capital Management LLC's holdings in Alphabet were worth $427,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. ARQ Wealth Advisors LLC raised its position in shares of Alphabet by 39.3% in the fourth quarter. ARQ Wealth Advisors LLC now owns 4,964 shares of the information services provider's stock valued at $945,000 after purchasing an additional 1,400 shares during the period. Independence Bank of Kentucky raised its position in shares of Alphabet by 10.2% in the first quarter. Independence Bank of Kentucky now owns 14,907 shares of the information services provider's stock valued at $2,329,000 after purchasing an additional 1,376 shares during the period. Fermata Advisors LLC raised its position in shares of Alphabet by 2.7% in the first quarter. Fermata Advisors LLC now owns 9,771 shares of the information services provider's stock valued at $1,527,000 after purchasing an additional 259 shares during the period. jvl associates llc raised its position in shares of Alphabet by 3.5% in the first quarter. jvl associates llc now owns 10,055 shares of the information services provider's stock valued at $1,571,000 after purchasing an additional 343 shares during the period. Finally, Members Trust Co raised its position in shares of Alphabet by 84.7% in the first quarter. Members Trust Co now owns 4,999 shares of the information services provider's stock valued at $781,000 after purchasing an additional 2,292 shares during the period. Institutional investors own 27.26% of the company's stock.

Alphabet Stock Performance

GOOG traded up $0.60 during trading on Friday, reaching $241.38. 14,519,054 shares of the company's stock were exchanged, compared to its average volume of 22,624,780. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $242.57. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The business has a 50 day moving average price of $202.67 and a 200 day moving average price of $178.83. The company has a market capitalization of $2.92 trillion, a P/E ratio of 25.71, a PEG ratio of 1.62 and a beta of 1.01.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping analysts' consensus estimates of $2.12 by $0.19. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The firm had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.67 billion. During the same quarter in the previous year, the company earned $1.89 earnings per share. The business's revenue was up 13.8% compared to the same quarter last year. As a group, analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be paid a dividend of $0.21 per share. The ex-dividend date is Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. Alphabet's payout ratio is currently 8.95%.

Insider Activity

In other news, Director Kavitark Ram Shriram sold 15,000 shares of the business's stock in a transaction on Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $2,786,400.00. Following the sale, the director owned 240,400 shares in the company, valued at approximately $44,656,704. The trade was a 5.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $229.73, for a total transaction of $7,466,225.00. Following the completion of the sale, the chief executive officer owned 2,429,892 shares in the company, valued at $558,219,089.16. This represents a 1.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 254,710 shares of company stock worth $49,208,380 over the last 90 days. 12.99% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Raymond James Financial reissued an "outperform" rating and issued a $210.00 price target (up previously from $185.00) on shares of Alphabet in a research report on Thursday, July 24th. Phillip Securities lowered shares of Alphabet from a "strong-buy" rating to a "moderate buy" rating in a research report on Monday. Barclays restated a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. Cowen restated a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. Finally, Pivotal Research raised their price objective on shares of Alphabet from $245.00 to $300.00 and gave the stock a "buy" rating in a research note on Wednesday, September 3rd. Four analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $227.56.

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.