Cumberland Partners Ltd Increases Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Cumberland Partners Ltd increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 27.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 126,289 shares of the information services provider’s stock after buying an additional 27,030 shares during the quarter. Alphabet accounts for about 1.5% of Cumberland Partners Ltd’s portfolio, making the stock its 21st largest position. Cumberland Partners Ltd’s holdings in Alphabet were worth $17,385,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. RWQ Financial Management Services Inc. lifted its position in Alphabet by 8.2% during the 4th quarter. RWQ Financial Management Services Inc. now owns 61,499 shares of the information services provider’s stock worth $8,591,000 after acquiring an additional 4,664 shares during the period. Robbins Farley lifted its position in Alphabet by 0.8% during the 4th quarter. Robbins Farley now owns 15,006 shares of the information services provider’s stock worth $2,096,000 after acquiring an additional 118 shares during the period. Ballast Advisors LLC lifted its position in Alphabet by 9.6% during the 3rd quarter. Ballast Advisors LLC now owns 15,747 shares of the information services provider’s stock worth $2,061,000 after acquiring an additional 1,385 shares during the period. Quantum Financial Advisors LLC lifted its position in Alphabet by 8.0% during the 3rd quarter. Quantum Financial Advisors LLC now owns 7,623 shares of the information services provider’s stock worth $998,000 after acquiring an additional 564 shares during the period. Finally, Colton Groome Financial Advisors LLC lifted its position in Alphabet by 3.8% during the 4th quarter. Colton Groome Financial Advisors LLC now owns 2,700 shares of the information services provider’s stock worth $377,000 after acquiring an additional 100 shares during the period. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $146.29, for a total value of $3,291,525.00. Following the completion of the sale, the chief executive officer now directly owns 2,377,691 shares in the company, valued at $347,832,416.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $146.29, for a total value of $3,291,525.00. Following the transaction, the chief executive officer now directly owns 2,377,691 shares in the company, valued at $347,832,416.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Ruth Porat sold 48,077 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $137.22, for a total value of $6,597,125.94. Following the completion of the transaction, the chief financial officer now owns 1,777,106 shares in the company, valued at $243,854,485.32. The disclosure for this sale can be found here. Insiders sold 275,129 shares of company stock worth $40,382,765 over the last ninety days. Corporate insiders own 0.88% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on the company. Stifel Nicolaus lifted their price target on Alphabet from $174.00 to $196.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Redburn Atlantic lifted their price target on Alphabet from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Wednesday, January 31st. JMP Securities boosted their price objective on Alphabet from $160.00 to $200.00 and gave the company a “market outperform” rating in a report on Friday, April 26th. Jefferies Financial Group boosted their price objective on Alphabet from $180.00 to $200.00 and gave the company a “buy” rating in a report on Friday, April 26th. Finally, Canaccord Genuity Group boosted their price objective on Alphabet from $190.00 to $210.00 and gave the company a “buy” rating in a report on Friday, April 26th. Five investment analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $190.60.

Alphabet Price Performance

NASDAQ:GOOGL opened at $163.86 on Thursday. Alphabet Inc. has a 12 month low of $103.71 and a 12 month high of $174.71. The stock has a 50 day moving average of $149.22 and a two-hundred day moving average of $141.95. The company has a current ratio of 2.15, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05. The firm has a market cap of $2.04 trillion, a P/E ratio of 25.13, a price-to-earnings-growth ratio of 1.29 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.40. The business had revenue of $80.54 billion during the quarter, compared to analyst estimates of $66.04 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. During the same period in the prior year, the business earned $1.17 earnings per share. On average, analysts expect that Alphabet Inc. will post 7.49 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 10th will be given a $0.20 dividend. The ex-dividend date is Monday, June 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.49%.

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.