Alphabet Inc. $GOOG Stock Holdings Trimmed by Cumberland Partners Ltd

Cumberland Partners Ltd lowered its stake in Alphabet Inc. (NASDAQ:GOOG) by 37.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 171,228 shares of the information services provider’s stock after selling 100,355 shares during the quarter. Alphabet comprises about 2.1% of Cumberland Partners Ltd’s portfolio, making the stock its 15th biggest holding. Cumberland Partners Ltd’s holdings in Alphabet were worth $30,374,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Wisconsin Wealth Advisors LLC bought a new position in shares of Alphabet in the second quarter valued at approximately $480,000. Dynamic Technology Lab Private Ltd boosted its stake in Alphabet by 87.4% during the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 10,907 shares of the information services provider’s stock valued at $1,935,000 after purchasing an additional 5,086 shares in the last quarter. Howe & Rusling Inc. raised its stake in shares of Alphabet by 2.2% in the 2nd quarter. Howe & Rusling Inc. now owns 71,264 shares of the information services provider’s stock worth $12,642,000 after buying an additional 1,513 shares in the last quarter. Miller Financial Services LLC boosted its stake in Alphabet by 1.5% during the second quarter. Miller Financial Services LLC now owns 3,806 shares of the information services provider’s stock valued at $675,000 after buying an additional 56 shares in the last quarter. Finally, NFP Retirement Inc. grew its holdings in Alphabet by 31.9% during the second quarter. NFP Retirement Inc. now owns 13,679 shares of the information services provider’s stock worth $2,426,000 after acquiring an additional 3,305 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on GOOG shares. Barclays boosted their target price on shares of Alphabet from $250.00 to $315.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. Oppenheimer upped their target price on Alphabet from $300.00 to $345.00 and gave the company an “outperform” rating in a report on Thursday, October 30th. Weiss Ratings reissued a “buy (b)” rating on shares of Alphabet in a research note on Wednesday, October 8th. Morgan Stanley upped their price objective on shares of Alphabet from $210.00 to $270.00 and gave the company an “overweight” rating in a research note on Thursday, October 2nd. Finally, TD Cowen raised their target price on shares of Alphabet from $270.00 to $280.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. Seven equities research analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and an average target price of $324.81.

Alphabet Stock Up 2.8%

Shares of GOOG stock opened at $292.99 on Thursday. The stock’s 50 day simple moving average is $260.83 and its 200 day simple moving average is $212.43. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $304.25. The company has a market capitalization of $3.54 trillion, a price-to-earnings ratio of 28.89, a PEG ratio of 1.86 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Thursday, October 30th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The company had revenue of $102.35 billion during the quarter, compared to analysts’ expectations of $99.90 billion. During the same period in the prior year, the company earned $2.12 earnings per share. The business’s quarterly revenue was up 15.9% compared to the same quarter last year. As a group, research analysts predict that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Dividend Announcement

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

Insider Activity at Alphabet

In other news, Director John L. Hennessy sold 600 shares of the company’s stock in a transaction dated Thursday, November 13th. The shares were sold at an average price of $280.06, for a total transaction of $168,036.00. Following the completion of the transaction, the director owned 4,516 shares of the company’s stock, valued at approximately $1,264,750.96. This represents a 11.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Frances Arnold sold 112 shares of the stock in a transaction dated Thursday, October 30th. The shares were sold at an average price of $291.80, for a total transaction of $32,681.60. Following the completion of the sale, the director owned 18,004 shares of the company’s stock, valued at approximately $5,253,567.20. The trade was a 0.62% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 195,452 shares of company stock valued at $49,255,209. Company insiders own 12.99% of the company’s stock.

Alphabet Company 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.