Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Cumberland Partners Ltd

Cumberland Partners Ltd trimmed its holdings in Alphabet Inc. (NASDAQ:GOOG) by 1.0% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 277,378 shares of the information services provider’s stock after selling 2,685 shares during the period. Alphabet comprises 3.1% of Cumberland Partners Ltd’s holdings, making the stock its 6th biggest position. Cumberland Partners Ltd’s holdings in Alphabet were worth $36,572,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in GOOG. Everence Capital Management Inc. increased its stake in shares of Alphabet by 0.7% during the third quarter. Everence Capital Management Inc. now owns 124,950 shares of the information services provider’s stock worth $16,475,000 after purchasing an additional 830 shares during the period. Arkfeld Wealth Strategies L.L.C. increased its stake in Alphabet by 15.0% during the 3rd quarter. Arkfeld Wealth Strategies L.L.C. now owns 19,808 shares of the information services provider’s stock worth $2,757,000 after acquiring an additional 2,580 shares during the period. Essex LLC increased its stake in Alphabet by 6.3% during the 3rd quarter. Essex LLC now owns 29,660 shares of the information services provider’s stock worth $3,911,000 after acquiring an additional 1,768 shares during the period. Capital Investment Advisors LLC increased its stake in Alphabet by 14.1% during the 3rd quarter. Capital Investment Advisors LLC now owns 28,953 shares of the information services provider’s stock worth $3,817,000 after acquiring an additional 3,573 shares during the period. Finally, Onyx Bridge Wealth Group LLC increased its stake in Alphabet by 1.1% during the 3rd quarter. Onyx Bridge Wealth Group LLC now owns 22,332 shares of the information services provider’s stock worth $2,944,000 after acquiring an additional 234 shares during the period. 27.26% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Alphabet

In related news, Director Frances Arnold sold 230 shares of the business’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total value of $35,433.80. Following the completion of the sale, the director now directly owns 15,104 shares of the company’s stock, valued at approximately $2,326,922.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Alphabet news, Director Frances Arnold sold 230 shares of the business’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total transaction of $35,433.80. Following the completion of the sale, the director now directly owns 15,104 shares of the company’s stock, valued at approximately $2,326,922.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John L. Hennessy sold 800 shares of the business’s stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $159.56, for a total value of $127,648.00. Following the sale, the director now directly owns 7,991 shares of the company’s stock, valued at $1,275,043.96. The disclosure for this sale can be found here. Insiders sold 251,339 shares of company stock valued at $36,377,482 in the last three months. Corporate insiders own 12.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Raymond James raised their price objective on Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 24th. Morgan Stanley restated an “overweight” rating and set a $165.00 price objective on shares of Alphabet in a research note on Thursday, April 11th. Stifel Nicolaus raised their price objective on Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Susquehanna lifted their price target on Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a research note on Wednesday, January 31st. Finally, Oppenheimer lifted their price target on Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research note on Monday, April 8th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Alphabet has a consensus rating of “Buy” and a consensus target price of $159.86.

Alphabet Stock Down 2.0 %

Shares of GOOG opened at $157.95 on Friday. The company has a market capitalization of $1.96 trillion, a PE ratio of 27.23, a PEG ratio of 1.48 and a beta of 1.05. Alphabet Inc. has a 12 month low of $103.27 and a 12 month high of $161.70. The stock’s 50-day moving average price is $148.48 and its two-hundred day moving average price is $142.51. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.40. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The firm had revenue of $80.54 billion during the quarter, compared to analyst estimates of $78.75 billion. During the same period last year, the company posted $1.17 EPS. The business’s quarterly revenue was up 15.4% on a year-over-year basis. On average, analysts anticipate that Alphabet Inc. will post 6.79 EPS for the current year.

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.