Cutter & CO Brokerage Inc. Grows Position in Alphabet Inc. (NASDAQ:GOOGL)

Cutter & CO Brokerage Inc. increased its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,464 shares of the information services provider’s stock after buying an additional 154 shares during the quarter. Cutter & CO Brokerage Inc.’s holdings in Alphabet were worth $1,182,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in GOOGL. Aire Advisors LLC raised its holdings in Alphabet by 0.6% during the fourth quarter. Aire Advisors LLC now owns 11,772 shares of the information services provider’s stock worth $1,645,000 after purchasing an additional 68 shares during the last quarter. Defined Wealth Management LLC raised its holdings in Alphabet by 2.9% during the fourth quarter. Defined Wealth Management LLC now owns 2,531 shares of the information services provider’s stock worth $354,000 after purchasing an additional 71 shares during the last quarter. WealthCare Investment Partners LLC raised its holdings in Alphabet by 2.1% during the fourth quarter. WealthCare Investment Partners LLC now owns 3,473 shares of the information services provider’s stock worth $482,000 after purchasing an additional 71 shares during the last quarter. Peoples Financial Services CORP. raised its holdings in Alphabet by 0.4% during the fourth quarter. Peoples Financial Services CORP. now owns 16,690 shares of the information services provider’s stock worth $2,331,000 after purchasing an additional 72 shares during the last quarter. Finally, RAM Investment Partners LLC raised its holdings in Alphabet by 1.0% during the fourth quarter. RAM Investment Partners LLC now owns 7,550 shares of the information services provider’s stock worth $1,055,000 after purchasing an additional 73 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Trading Up 0.7 %

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

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.40. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The company had revenue of $80.54 billion for the quarter, compared to analysts’ expectations of $66.04 billion. During the same quarter in the previous year, the firm posted $1.17 earnings per share. Equities analysts forecast that Alphabet Inc. will post 7.49 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

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

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $166.80, for a total value of $3,753,000.00. Following the transaction, the chief executive officer now owns 2,280,511 shares in the company, valued at $380,389,234.80. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Alphabet news, Director John L. Hennessy sold 800 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $149.73, for a total transaction of $119,784.00. Following the transaction, the director now owns 7,164 shares of the company’s stock, valued at approximately $1,072,665.72. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $166.80, for a total value of $3,753,000.00. Following the transaction, the chief executive officer now directly owns 2,280,511 shares in the company, valued at approximately $380,389,234.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 275,129 shares of company stock worth $40,382,765. 0.88% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

GOOGL has been the subject of several recent research reports. KeyCorp raised their price target on Alphabet from $165.00 to $175.00 and gave the stock an “overweight” rating in a research report on Monday, April 22nd. Raymond James raised their price target on Alphabet from $160.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Wells Fargo & Company raised their price target on Alphabet from $141.00 to $168.00 and gave the stock an “equal weight” rating in a research report on Friday, April 26th. Wedbush raised their price target on Alphabet from $175.00 to $205.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Finally, Jefferies Financial Group raised their price target on Alphabet from $180.00 to $200.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Five research analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $190.60.

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.