Twin Capital Management Inc. Has $3.86 Million Stake in Alphabet Inc. (NASDAQ:GOOG)

Twin Capital Management Inc. trimmed its holdings in Alphabet Inc. (NASDAQ:GOOG) by 3.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,354 shares of the information services provider’s stock after selling 1,008 shares during the period. Twin Capital Management Inc.’s holdings in Alphabet were worth $3,855,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Tandem Wealth Advisors LLC acquired a new stake in shares of Alphabet in the third quarter valued at approximately $25,000. Bruce G. Allen Investments LLC acquired a new position in Alphabet during the fourth quarter valued at approximately $26,000. HWG Holdings LP acquired a new position in Alphabet during the second quarter valued at approximately $26,000. Equitec Proprietary Markets LLC acquired a new position in Alphabet during the fourth quarter valued at approximately $28,000. Finally, Buck Wealth Strategies LLC acquired a new position in Alphabet during the third quarter valued at approximately $32,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have commented on GOOG shares. Susquehanna boosted their price objective on shares of Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a research report on Wednesday, January 31st. Morgan Stanley restated an “overweight” rating and set a $165.00 price objective on shares of Alphabet in a research report on Thursday, April 11th. Oppenheimer boosted their price objective on shares of Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research report on Monday, April 8th. Stifel Nicolaus boosted their price objective on shares of Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Raymond James boosted their target price on shares of Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 24th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $159.86.

Alphabet Stock Performance

NASDAQ GOOG opened at $155.72 on Friday. The firm’s fifty day moving average price is $147.46 and its two-hundred day moving average price is $141.87. The stock has a market cap of $1.94 trillion, a PE ratio of 26.85, a PEG ratio of 1.45 and a beta of 1.05. Alphabet Inc. has a fifty-two week low of $103.27 and a fifty-two week high of $161.70. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.10.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The firm had revenue of $86.31 billion for the quarter, compared to analysts’ expectations of $85.28 billion. During the same quarter in the previous year, the firm posted $1.05 earnings per share. The company’s revenue was up 13.5% on a year-over-year basis. On average, equities analysts expect that Alphabet Inc. will post 6.78 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Frances Arnold sold 230 shares of the business’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total value of $35,433.80. Following the sale, the director now owns 15,104 shares of the company’s stock, valued at $2,326,922.24. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director John L. Hennessy sold 300 shares of the business’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $139.51, for a total value of $41,853.00. Following the sale, the director now owns 9,291 shares of the company’s stock, valued at $1,296,187.41. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Frances Arnold sold 230 shares of the business’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total transaction of $35,433.80. Following the completion of the transaction, the director now owns 15,104 shares in the company, valued at approximately $2,326,922.24. The disclosure for this sale can be found here. Insiders have sold a total of 251,339 shares of company stock valued at $36,377,482 over the last 90 days. 12.99% of the stock is owned by insiders.

About Alphabet

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.