Alphabet Inc. $GOOG Shares Purchased by Cypress Capital Group

Cypress Capital Group boosted its stake in Alphabet Inc. (NASDAQ:GOOG) by 0.9% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 41,239 shares of the information services provider’s stock after acquiring an additional 356 shares during the period. Alphabet accounts for about 0.9% of Cypress Capital Group’s holdings, making the stock its 29th biggest position. Cypress Capital Group’s holdings in Alphabet were worth $7,315,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in GOOG. Kingstone Capital Partners Texas LLC increased its position in Alphabet by 580,897.4% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider’s stock valued at $23,963,208,000 after acquiring an additional 135,064,454 shares during the period. Nuveen LLC acquired a new position in shares of Alphabet during the first quarter worth about $2,622,943,000. Vanguard Group Inc. increased its stake in shares of Alphabet by 2.4% during the first quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider’s stock worth $64,299,725,000 after acquiring an additional 9,687,855 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Alphabet by 9.9% during the first quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider’s stock worth $15,971,861,000 after acquiring an additional 9,243,959 shares during the period. Finally, Strs Ohio acquired a new position in shares of Alphabet during the first quarter worth about $369,713,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Stock Up 0.1%

Shares of NASDAQ GOOG opened at $251.88 on Friday. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $257.58. The company has a market capitalization of $3.05 trillion, a PE ratio of 26.82, a price-to-earnings-growth ratio of 1.70 and a beta of 1.00. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The firm’s 50-day moving average is $231.15 and its two-hundred day moving average is $192.08.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.19. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The company had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.67 billion. During the same quarter in the prior year, the firm earned $1.89 earnings per share. The company’s revenue for the quarter was up 13.8% compared to the same quarter last year. Equities analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. Alphabet’s dividend payout ratio is presently 8.95%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on GOOG shares. Hsbc Global Res upgraded shares of Alphabet to a “strong-buy” rating in a research note on Tuesday, October 7th. UBS Group set a $255.00 price target on shares of Alphabet and gave the stock a “neutral” rating in a research note on Thursday, October 9th. Raymond James Financial reiterated an “outperform” rating and set a $210.00 price target (up from $185.00) on shares of Alphabet in a research note on Thursday, July 24th. Morgan Stanley boosted their price target on shares of Alphabet from $210.00 to $270.00 and gave the stock an “overweight” rating in a research note on Thursday, October 2nd. Finally, Scotiabank reiterated an “outperform” rating and set a $310.00 price target on shares of Alphabet in a research note on Thursday. Six investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and a consensus target price of $244.68.

Insider Activity

In related news, insider John Kent Walker sold 23,820 shares of the company’s stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the transaction, the insider owned 42,999 shares of the company’s stock, valued at approximately $8,371,905.30. This represents a 35.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John L. Hennessy sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $200.00, for a total transaction of $200,000.00. Following the transaction, the director directly owned 6,916 shares in the company, valued at $1,383,200. The trade was a 12.63% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 210,872 shares of company stock worth $46,980,865. 12.99% of the stock is currently owned by corporate insiders.

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.