Twin Lakes Capital Management LLC Purchases Shares of 12,700 Alphabet Inc. (NASDAQ:GOOGL)

Twin Lakes Capital Management LLC bought a new position in Alphabet Inc. (NASDAQ:GOOGLGet Rating) during the 3rd quarter, Holdings Channel reports. The fund bought 12,700 shares of the information services provider’s stock, valued at approximately $1,215,000.

Other large investors have also added to or reduced their stakes in the company. Louisiana State Employees Retirement System bought a new stake in shares of Alphabet in the 3rd quarter valued at approximately $55,305,000. Griffin Asset Management Inc. raised its position in Alphabet by 1,900.0% in the 3rd quarter. Griffin Asset Management Inc. now owns 52,240 shares of the information services provider’s stock worth $4,997,000 after purchasing an additional 49,628 shares during the period. Farmers Trust Co. grew its stake in shares of Alphabet by 2.2% during the second quarter. Farmers Trust Co. now owns 5,924 shares of the information services provider’s stock valued at $12,910,000 after buying an additional 129 shares during the last quarter. Ziegler Capital Management LLC grew its position in Alphabet by 62.3% in the 2nd quarter. Ziegler Capital Management LLC now owns 33,282 shares of the information services provider’s stock valued at $72,531,000 after acquiring an additional 12,774 shares during the last quarter. Finally, Wilkinson Global Asset Management LLC grew its holdings in shares of Alphabet by 1,900.0% in the third quarter. Wilkinson Global Asset Management LLC now owns 6,460 shares of the information services provider’s stock worth $618,000 after purchasing an additional 6,137 shares during the last quarter. Institutional investors own 34.06% of the company’s stock.

Insider Buying and Selling

In related news, SVP Prabhakar Raghavan sold 22,203 shares of the stock in a transaction that occurred on Tuesday, January 3rd. The shares were sold at an average price of $89.75, for a total transaction of $1,992,719.25. Following the completion of the transaction, the senior vice president now owns 76,579 shares of the company’s stock, valued at approximately $6,872,965.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv bought 800,000 shares of Alphabet stock in a transaction on Monday, October 24th. The shares were bought at an average cost of $17.00 per share, for a total transaction of $13,600,000.00. Following the acquisition, the insider now directly owns 11,522,248 shares in the company, valued at $195,878,216. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Prabhakar Raghavan sold 22,203 shares of the stock in a transaction that occurred on Tuesday, January 3rd. The stock was sold at an average price of $89.75, for a total transaction of $1,992,719.25. Following the sale, the senior vice president now owns 76,579 shares in the company, valued at $6,872,965.25. The disclosure for this sale can be found here. In the last quarter, insiders purchased 1,461,702 shares of company stock valued at $36,999,217 and sold 190,744 shares valued at $8,564,640. 11.44% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts recently issued reports on GOOGL shares. Rosenblatt Securities dropped their price objective on Alphabet from $156.00 to $130.00 and set a “buy” rating on the stock in a research note on Wednesday, October 26th. New Street Research began coverage on shares of Alphabet in a research note on Wednesday, January 4th. They set a “buy” rating and a $118.00 price objective on the stock. Mizuho reduced their price objective on shares of Alphabet from $140.00 to $135.00 and set a “buy” rating for the company in a research note on Wednesday, November 30th. Royal Bank of Canada dropped their target price on Alphabet from $135.00 to $130.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 26th. Finally, MKM Partners reduced their price target on Alphabet from $140.00 to $134.00 and set a “buy” rating for the company in a research report on Wednesday, October 19th. Five research analysts have rated the stock with a hold rating, thirty-two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and a consensus price target of $132.00.

Alphabet Trading Up 3.5 %

Shares of Alphabet stock opened at $91.52 on Thursday. The stock has a 50 day moving average of $92.56 and a 200 day moving average of $102.52. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.47 and a current ratio of 2.52. The firm has a market capitalization of $1.18 trillion, a price-to-earnings ratio of 18.17, a PEG ratio of 1.53 and a beta of 1.09. Alphabet Inc. has a fifty-two week low of $83.34 and a fifty-two week high of $151.55.

Alphabet (NASDAQ:GOOGLGet Rating) last issued its quarterly earnings data on Tuesday, October 25th. The information services provider reported $1.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.25 by ($0.19). The company had revenue of $57.27 billion during the quarter, compared to analysts’ expectations of $58.36 billion. Alphabet had a net margin of 23.75% and a return on equity of 26.41%. During the same quarter last year, the firm posted $1.40 earnings per share. As a group, research analysts predict that Alphabet Inc. will post 4.68 earnings per share for the current year.

About Alphabet

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Alphabet Inc provides 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 offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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