Cumberland Partners Ltd Has $23.96 Million Holdings in Alphabet Inc. (GOOG)
Cumberland Partners Ltd cut its position in Alphabet Inc. (NASDAQ:GOOG) by 1.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 22,900 shares of the information services provider’s stock after selling 429 shares during the period. Alphabet comprises about 3.2% of Cumberland Partners Ltd’s portfolio, making the stock its 13th largest position. Cumberland Partners Ltd’s holdings in Alphabet were worth $23,962,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of GOOG. Vanguard Group Inc. grew its position in Alphabet by 3.0% in the second quarter. Vanguard Group Inc. now owns 20,440,038 shares of the information services provider’s stock valued at $18,574,476,000 after purchasing an additional 589,654 shares in the last quarter. BlackRock Inc. lifted its stake in shares of Alphabet by 4.8% during the 2nd quarter. BlackRock Inc. now owns 18,058,006 shares of the information services provider’s stock worth $16,409,850,000 after buying an additional 826,480 shares during the last quarter. FMR LLC lifted its stake in shares of Alphabet by 0.4% during the 2nd quarter. FMR LLC now owns 13,971,679 shares of the information services provider’s stock worth $12,696,484,000 after buying an additional 62,507 shares during the last quarter. Capital World Investors lifted its stake in shares of Alphabet by 13.9% during the 2nd quarter. Capital World Investors now owns 6,371,356 shares of the information services provider’s stock worth $5,789,842,000 after buying an additional 776,853 shares during the last quarter. Finally, Capital Research Global Investors raised its stake in Alphabet by 3.2% in the 2nd quarter. Capital Research Global Investors now owns 4,983,431 shares of the information services provider’s stock worth $4,528,593,000 after purchasing an additional 155,151 shares in the last quarter. Institutional investors own 34.84% of the company’s stock.
Shares of NASDAQ GOOG opened at $1,037.98 on Tuesday. The company has a market capitalization of $715,119.31, a PE ratio of 32.39 and a beta of 1.08. Alphabet Inc. has a 52-week low of $824.47 and a 52-week high of $1,186.89. The company has a debt-to-equity ratio of 0.03, a quick ratio of 5.11 and a current ratio of 5.14.
Alphabet declared that its board has initiated a share buyback plan on Thursday, February 1st that authorizes the company to buyback $8.59 billion in outstanding shares. This buyback authorization authorizes the information services provider to buy shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.
In related news, CEO Sundar Pichai sold 4,000 shares of the business’s stock in a transaction on Wednesday, January 17th. The shares were sold at an average price of $1,127.17, for a total transaction of $4,508,680.00. Following the transaction, the chief executive officer now owns 656 shares in the company, valued at approximately $739,423.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP David C. Drummond sold 5,690 shares of the business’s stock in a transaction on Monday, March 12th. The shares were sold at an average price of $1,164.43, for a total transaction of $6,625,606.70. Following the transaction, the senior vice president now owns 2,897 shares in the company, valued at approximately $3,373,353.71. The disclosure for this sale can be found here. Insiders have sold a total of 54,410 shares of company stock worth $58,606,136 in the last quarter. 13.92% of the stock is owned by corporate insiders.
GOOG has been the topic of several recent analyst reports. UBS reissued a “buy” rating on shares of Alphabet in a report on Thursday, January 11th. Morningstar reaffirmed a “neutral” rating on shares of Alphabet in a report on Friday, January 19th. Morgan Stanley reaffirmed a “buy” rating on shares of Alphabet in a report on Friday, January 12th. Piper Jaffray lifted their price target on shares of Alphabet from $1,150.00 to $1,300.00 and gave the company an “overweight” rating in a report on Thursday, January 11th. Finally, Vetr raised shares of Alphabet from a “strong sell” rating to a “sell” rating and set a $1,040.56 price target on the stock in a report on Tuesday, January 30th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $1,089.34.
Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.
Want to see what other hedge funds are holding GOOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOG).
Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.