Cypress Capital LLC Sells 198 Shares of Alphabet Inc. $GOOGL

Cypress Capital LLC trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.4% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,112 shares of the information services provider’s stock after selling 198 shares during the quarter. Alphabet accounts for approximately 0.7% of Cypress Capital LLC’s investment portfolio, making the stock its 27th largest position. Cypress Capital LLC’s holdings in Alphabet were worth $2,487,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in GOOGL. Tillman Hartley LLC lifted its holdings in shares of Alphabet by 14.1% in the 2nd quarter. Tillman Hartley LLC now owns 5,475 shares of the information services provider’s stock worth $965,000 after acquiring an additional 677 shares during the last quarter. Americana Partners LLC lifted its stake in Alphabet by 3.6% in the second quarter. Americana Partners LLC now owns 177,324 shares of the information services provider’s stock worth $31,250,000 after purchasing an additional 6,098 shares during the last quarter. Hughes Financial Services LLC boosted its position in shares of Alphabet by 39.9% during the second quarter. Hughes Financial Services LLC now owns 1,315 shares of the information services provider’s stock valued at $232,000 after buying an additional 375 shares during the period. Altman Advisors Inc. grew its stake in shares of Alphabet by 1.7% during the second quarter. Altman Advisors Inc. now owns 35,840 shares of the information services provider’s stock valued at $6,302,000 after buying an additional 586 shares during the last quarter. Finally, Fountainhead AM LLC raised its holdings in shares of Alphabet by 18.4% in the second quarter. Fountainhead AM LLC now owns 16,655 shares of the information services provider’s stock worth $2,935,000 after buying an additional 2,589 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Price Performance

Shares of GOOGL opened at $299.66 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The company has a 50 day moving average price of $262.39 and a 200-day moving average price of $213.40. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $306.42. The stock has a market capitalization of $3.62 trillion, a PE ratio of 29.55, a PEG ratio of 1.86 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. The company had revenue of $102.35 billion during the quarter, compared to the consensus estimate of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. Equities analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 8th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Monday, December 8th. Alphabet’s payout ratio is presently 8.28%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Daiwa Capital Markets boosted their price objective on Alphabet from $233.00 to $333.00 and gave the company a “buy” rating in a report on Thursday, November 6th. Truist Financial upped their price target on shares of Alphabet from $285.00 to $320.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Hsbc Global Res upgraded shares of Alphabet to a “strong-buy” rating in a report on Tuesday, October 7th. Loop Capital upgraded shares of Alphabet from a “hold” rating to a “buy” rating and upped their target price for the stock from $260.00 to $320.00 in a research note on Tuesday, November 18th. Finally, New Street Research lifted their price target on shares of Alphabet from $275.00 to $295.00 in a research note on Friday, October 24th. Four analysts have rated the stock with a Strong Buy rating, thirty-eight have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $305.33.

Insider Buying and Selling

In related news, Director Frances Arnold sold 112 shares of the firm’s stock in a transaction dated Thursday, October 30th. The stock was sold at an average price of $291.80, for a total transaction of $32,681.60. Following the sale, the director owned 18,004 shares of the company’s stock, valued at $5,253,567.20. This trade represents a 0.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Amie Thuener O’toole sold 2,778 shares of Alphabet stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $288.26, for a total value of $800,786.28. Following the completion of the transaction, the chief accounting officer owned 11,739 shares in the company, valued at $3,383,884.14. This trade represents a 19.14% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 225,174 shares of company stock valued at $58,095,223. Company insiders own 11.64% of the company’s stock.

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.