Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Cypress Asset Management Inc. TX

Cypress Asset Management Inc. TX cut its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 3.6% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,822 shares of the information services provider’s stock after selling 1,079 shares during the period. Cypress Asset Management Inc. TX’s holdings in Alphabet were worth $4,442,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. OMC Financial Services LTD acquired a new stake in shares of Alphabet during the first quarter valued at $4,227,000. Hamilton Wealth LLC boosted its stake in shares of Alphabet by 4.4% during the first quarter. Hamilton Wealth LLC now owns 127,828 shares of the information services provider’s stock valued at $19,293,000 after acquiring an additional 5,423 shares during the last quarter. Objective Capital Management LLC boosted its stake in shares of Alphabet by 2.2% during the first quarter. Objective Capital Management LLC now owns 10,567 shares of the information services provider’s stock valued at $1,595,000 after acquiring an additional 229 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its stake in shares of Alphabet by 10.5% during the first quarter. DekaBank Deutsche Girozentrale now owns 11,596,975 shares of the information services provider’s stock valued at $1,753,286,000 after acquiring an additional 1,099,571 shares during the last quarter. Finally, Tactive Advisors LLC boosted its stake in shares of Alphabet by 16.1% during the first quarter. Tactive Advisors LLC now owns 5,193 shares of the information services provider’s stock valued at $784,000 after acquiring an additional 721 shares during the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Alphabet Stock Performance

Shares of Alphabet stock traded up $0.15 during trading on Tuesday, hitting $159.40. 22,180,869 shares of the stock were exchanged, compared to its average volume of 28,140,625. The stock’s fifty day moving average is $178.11 and its 200 day moving average is $161.69. The stock has a market cap of $1.96 trillion, a PE ratio of 24.40, a P/E/G ratio of 1.28 and a beta of 1.05. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. Alphabet Inc. has a 12 month low of $120.21 and a 12 month high of $191.75.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.85 by $0.04. The business had revenue of $84.74 billion during the quarter, compared to analyst estimates of $70.60 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same quarter in the prior year, the firm earned $1.44 earnings per share. As a group, sell-side analysts anticipate that Alphabet Inc. will post 7.62 EPS for the current year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 9th will be given a $0.20 dividend. The ex-dividend date of this dividend is Monday, September 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.50%. Alphabet’s dividend payout ratio is presently 12.27%.

Insider Activity at Alphabet

In other news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $168.00, for a total transaction of $114,576.00. Following the completion of the transaction, the chief accounting officer now owns 31,334 shares in the company, valued at approximately $5,264,112. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $182.84, for a total transaction of $4,113,900.00. Following the completion of the transaction, the chief executive officer now owns 2,204,885 shares in the company, valued at approximately $403,141,173.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $168.00, for a total transaction of $114,576.00. Following the sale, the chief accounting officer now directly owns 31,334 shares of the company’s stock, valued at $5,264,112. The disclosure for this sale can be found here. Insiders sold 99,808 shares of company stock worth $17,732,125 in the last 90 days. Corporate insiders own 11.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on GOOGL shares. Jefferies Financial Group boosted their target price on shares of Alphabet from $215.00 to $220.00 in a report on Tuesday, July 9th. Raymond James upped their price objective on Alphabet from $160.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. TD Securities lifted their target price on Alphabet from $200.00 to $220.00 in a report on Wednesday, July 10th. Mizuho upped their price target on Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Finally, Roth Mkm lifted their price objective on Alphabet from $202.00 to $206.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Six investment analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $203.74.

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.