Cypress Asset Management Inc. TX Has $4.44 Million Position in Alphabet Inc. (NASDAQ:GOOGL)

Cypress Asset Management Inc. TX trimmed its position in Alphabet Inc. (NASDAQ:GOOGL) by 3.6% during the first quarter, HoldingsChannel.com reports. The fund 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 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of GOOGL. Vermillion & White Wealth Management Group LLC acquired a new stake in shares of Alphabet during the fourth quarter worth about $30,000. Tributary Capital Management LLC bought a new position in Alphabet in the first quarter valued at approximately $30,000. DiNuzzo Private Wealth Inc. acquired a new position in shares of Alphabet in the fourth quarter valued at approximately $38,000. CarsonAllaria Wealth Management Ltd. increased its position in shares of Alphabet by 59.2% during the first quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock worth $44,000 after acquiring an additional 109 shares in the last quarter. Finally, Richardson Capital Management LLC boosted its stake in Alphabet by 87.5% in the 1st quarter. Richardson Capital Management LLC now owns 300 shares of the information services provider’s stock worth $45,000 after purchasing an additional 140 shares during the period. Institutional investors own 40.03% of the company’s stock.

Alphabet Price Performance

Shares of GOOGL stock traded up $0.15 on Tuesday, reaching $159.40. The company had a trading volume of 22,180,869 shares, compared to its average volume of 28,140,625. The stock has a market capitalization of $1.96 trillion, a PE ratio of 24.40, a price-to-earnings-growth ratio of 1.28 and a beta of 1.05. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. The business’s 50-day moving average is $178.11 and its 200 day moving average is $161.69. Alphabet Inc. has a one year low of $120.21 and a one year high of $191.75.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. The firm had revenue of $84.74 billion for 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 last year, the business posted $1.44 earnings per share. Equities research analysts forecast that Alphabet Inc. will post 7.62 EPS for the current fiscal year.

Alphabet Dividend Announcement

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

Insider Buying and Selling at Alphabet

In other Alphabet news, Director John L. Hennessy sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $185.85, for a total value of $278,775.00. Following the completion of the transaction, the director now directly owns 30,824 shares in the company, valued at approximately $5,728,640.40. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $185.85, for a total value of $278,775.00. Following the transaction, the director now directly owns 30,824 shares of the company’s stock, valued at $5,728,640.40. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction on 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 sale, the chief accounting officer now directly owns 31,334 shares in the company, valued at $5,264,112. The disclosure for this sale can be found here. Over the last three months, insiders sold 99,808 shares of company stock worth $17,732,125. 11.55% of the stock is currently owned by insiders.

Analysts Set New Price Targets

GOOGL has been the subject of a number of recent research reports. Sanford C. Bernstein upped their price target on Alphabet from $165.00 to $180.00 and gave the stock a “market perform” rating in a research report on Friday, April 26th. Royal Bank of Canada lifted their price target on shares of Alphabet from $200.00 to $204.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Robert W. Baird increased their price objective on shares of Alphabet from $160.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Jefferies Financial Group upped their target price on Alphabet from $215.00 to $220.00 in a report on Tuesday, July 9th. Finally, Roth Mkm lifted their price objective on shares of Alphabet from $202.00 to $206.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Six equities research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $203.74.

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.