Cypress Asset Management Inc. TX Has $9.04 Million Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Cypress Asset Management Inc. TX lessened its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 7.9% in the first quarter, HoldingsChannel.com reports. The fund owned 59,230 shares of the information services provider’s stock after selling 5,099 shares during the period. Alphabet comprises approximately 2.5% of Cypress Asset Management Inc. TX’s portfolio, making the stock its 10th biggest holding. Cypress Asset Management Inc. TX’s holdings in Alphabet were worth $9,043,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Mark Sheptoff Financial Planning LLC increased its position in shares of Alphabet by 11.1% during the first quarter. Mark Sheptoff Financial Planning LLC now owns 600 shares of the information services provider’s stock worth $91,000 after buying an additional 60 shares during the period. Strait & Sound Wealth Management LLC increased its position in shares of Alphabet by 2.2% during the first quarter. Strait & Sound Wealth Management LLC now owns 2,898 shares of the information services provider’s stock worth $466,000 after buying an additional 61 shares during the period. Woodward Diversified Capital LLC increased its position in shares of Alphabet by 0.7% during the first quarter. Woodward Diversified Capital LLC now owns 8,609 shares of the information services provider’s stock worth $1,311,000 after buying an additional 62 shares during the period. Intergy Private Wealth LLC increased its position in shares of Alphabet by 1.9% during the first quarter. Intergy Private Wealth LLC now owns 3,393 shares of the information services provider’s stock worth $517,000 after buying an additional 63 shares during the period. Finally, Smith Anglin Financial LLC boosted its stake in Alphabet by 2.0% during the first quarter. Smith Anglin Financial LLC now owns 3,223 shares of the information services provider’s stock worth $491,000 after acquiring an additional 64 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on GOOG. Rosenblatt Securities lowered shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price on the stock. in a research note on Friday, June 28th. TD Cowen increased their target price on shares of Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Oppenheimer increased their target price on shares of Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Wolfe Research raised shares of Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. Finally, Morgan Stanley reissued an “overweight” rating and set a $165.00 target price on shares of Alphabet in a research note on Thursday, April 11th. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $182.86.

Alphabet Stock Down 2.3 %

Shares of Alphabet stock traded down $4.05 during trading hours on Friday, reaching $168.40. The company’s stock had a trading volume of 18,907,773 shares, compared to its average volume of 16,999,430. Alphabet Inc. has a one year low of $121.46 and a one year high of $193.31. The company has a market capitalization of $2.07 trillion, a P/E ratio of 25.83, a P/E/G ratio of 1.28 and a beta of 1.05. The stock’s fifty day simple moving average is $179.96 and its two-hundred day simple moving average is $162.74. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data 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. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The firm had revenue of $84.74 billion for the quarter, compared to analyst estimates of $84.22 billion. During the same period last year, the firm earned $1.44 earnings per share. The business’s quarterly revenue was up 13.6% compared to the same quarter last year. On average, research analysts forecast that Alphabet Inc. will post 7.62 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 9th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date of this dividend is Monday, September 9th. Alphabet’s payout ratio is currently 3.07%.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $168.00, for a total transaction of $114,576.00. Following the transaction, the chief accounting officer now directly owns 31,334 shares of the company’s stock, valued at $5,264,112. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $173.22, for a total transaction of $3,897,450.00. Following the completion of the sale, the chief executive officer now owns 2,258,011 shares in the company, valued at $391,132,665.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $168.00, for a total transaction of $114,576.00. Following the sale, the chief accounting officer now owns 31,334 shares of the company’s stock, valued at approximately $5,264,112. The disclosure for this sale can be found here. Insiders have sold 122,308 shares of company stock valued at $21,933,775 over the last ninety days. Corporate insiders own 12.99% of the company’s stock.

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.