Cypress Asset Management Inc. TX decreased its position in shares of Alphabet Inc (NASDAQ:GOOG) by 6.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,457 shares of the information services provider’s stock after selling 282 shares during the quarter. Alphabet comprises about 2.0% of Cypress Asset Management Inc. TX’s investment portfolio, making the stock its 12th largest holding. Cypress Asset Management Inc. TX’s holdings in Alphabet were worth $5,959,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in GOOG. Lighthouse Financial Advisors Inc. acquired a new stake in Alphabet in the fourth quarter worth about $25,000. 1 North Wealth Services LLC acquired a new stake in Alphabet in the third quarter worth about $40,000. OLD Second National Bank of Aurora lifted its holdings in Alphabet by 50.0% in the fourth quarter. OLD Second National Bank of Aurora now owns 30 shares of the information services provider’s stock worth $40,000 after purchasing an additional 10 shares during the period. Wealthcare Capital Management LLC lifted its holdings in Alphabet by 300.0% in the fourth quarter. Wealthcare Capital Management LLC now owns 32 shares of the information services provider’s stock worth $43,000 after purchasing an additional 24 shares during the period. Finally, Cedar Mountain Advisors LLC acquired a new stake in Alphabet in the fourth quarter worth about $43,000. 33.80% of the stock is owned by institutional investors.
Shares of GOOG traded up $4.34 during trading hours on Friday, reaching $1,519.00. The company’s stock had a trading volume of 22,294 shares, compared to its average volume of 1,679,799. The firm has a market cap of $1,040.52 billion, a price-to-earnings ratio of 30.89, a P/E/G ratio of 1.69 and a beta of 1.02. Alphabet Inc has a 1-year low of $1,025.00 and a 1-year high of $1,529.63. The company has a quick ratio of 3.35, a current ratio of 3.37 and a debt-to-equity ratio of 0.07. The company has a 50 day moving average of $1,431.92 and a two-hundred day moving average of $1,295.96.
Several research firms recently weighed in on GOOG. Cfra upped their price objective on shares of Alphabet from $1,737.00 to $1,761.00 and gave the stock a “strong-buy” rating in a report on Thursday, February 6th. Jefferies Financial Group restated a “buy” rating on shares of Alphabet in a report on Tuesday, February 4th. William Blair restated an “outperform” rating on shares of Alphabet in a report on Tuesday, October 29th. Oppenheimer boosted their price objective on Alphabet from $1,530.00 to $1,620.00 and gave the stock an “outperform” rating in a report on Tuesday, February 4th. Finally, Pivotal Research boosted their price objective on Alphabet from $1,650.00 to $1,700.00 and gave the stock a “buy” rating in a report on Tuesday, February 4th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the company. Alphabet presently has a consensus rating of “Buy” and a consensus target price of $1,591.10.
In other news, major shareholder Capitalg Lp sold 830,211 shares of the stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $65.53, for a total value of $54,403,726.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Ann Mather sold 31 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $1,300.50, for a total value of $40,315.50. Following the completion of the sale, the director now directly owns 1,773 shares of the company’s stock, valued at $2,305,786.50. The disclosure for this sale can be found here. Insiders have sold 5,013,643 shares of company stock valued at $389,654,791 in the last ninety days. Company insiders own 12.99% of the company’s stock.
Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.
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